All About Group Health Insurance Policies In India

Group health insurance protects individuals who share a connection, such as bank customers, society members, or employees and employers of the same company. Group health insurance policies allow organisations, banks, housing societies, and businesses to offer their members and employees health insurance coverage in the event of a medical emergency.

Here are some benefits of a group health insurance policy:

Comprehensive health cover

A group health insurance policy will cover all your medical expenses, such as those associated with ambulance services, medications, specialists, and more.*

Comprehensive medical benefits

Group health insurance policies typically include coverage for the expenses incurred by medical treatment for various medical conditions. This may include hospitalisation in the event of an accident in addition to regular hospital benefits.*

Cashless claims

When it comes to cashless medical claims, insurers and hospitals work together. It would be best to get admitted to a hospital that is part of a network to qualify for cashless treatment. The bills are directly resolved between the insurer and the healthcare facility.*

Flexible terms

The group health insurance policy owner can select the policy term, which can be tailored to meet the group’s size and medical requirements.

Added benefits

Some of the rider options available for group health insurance include protection against several pre-existing conditions and providing coverage for maternity care. Additionally, there is a wide variety of other available rider options.*

What makes group health insurance so important for you and your family?

Due to changing circumstances, you must look after not only your health but also the health of your family. One can experience unexpected health issues at any time, which can quickly deplete one’s savings. In times like these, having access to group insurance can be of great assistance.*

What factors contribute to the popularity of group health insurance plans?

Tax deductions

Employees and their employers can benefit from the tax advantages of group insurance plans. Consequently, both parties stand to benefit from this policy.**

Lower premiums

This insurance plan offers lucrative benefits in addition to lower premiums. The rider covers can be added and customised as per preference.*

Here’s what’s covered under a group health insurance policy:

  • Coverage for a group of people
  • Covers medical expenditures for diseases, accidents, and illnesses
  • Pre- and post-hospitalisation charges that cover expenses before hospitalisation and after discharge in the recovery phase*
  • Flexibility to add a spouse, up to three children (aged three months to 25 years), and other dependents at extra cost.*
  • Cashless facilities and direct expense settlements are also available.

Important exceptions to the coverage of group health insurance

Exclusions in group health insurance include:

  • Pre-existing health conditions
  • Tests and mandatory medical processes
  • No coverage for those outside the age range.
  • Illness or injury from war
  • No coverage for external durables like lenses, wheelchairs, etc.

If you are looking for a type of health insurance to insure a group of people with no worries, you can go for group health insurance and protect them from harm.

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* Standard T&C Apply.

** Tax benefit is subject to change in prevalent tax laws

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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