Best Group Insurance Policy in India

How Can You Find the Best Group Insurance Policy in India Online?

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Health insurance is vital for every individual and business alike. It ensures that you have financial cover against medical emergencies and can protect your savings from being wiped off. Group health insurance is an essential part of the employee experience today and goes a long way in defining the work culture of an organization. For many employees, especially freshers, it often becomes the first-ever health coverage they own in their name.

So we thought it would be best to discuss the best group insurance policy in India and how to go about choosing the right one for your employees.

Key Features of Group Insurance Policy

As the name suggests, a group insurance policy is for a group of people who are looking to get insured. Such plans are most popular in the corporate world, where organizations secure insurance on behalf of a handful of their staff.

Pre-existing Disease Health Insurance-Cardiac Ailments
Cardiac Ailments

Here are the key features of the best group insurance policy in India –

  • No waiting period is attached to such policies
  • Tie-up with the best hospitals in the country to provide cashless facilities
  • Employees get pre and post-hospitalization costs as part of the policy
  • Includes coverage for dependents
  • Pre-existing ailments and maternity expenses are also usually covered

Why Should I Buy a Group Insurance Policy?

Here are the reasons that propel group insurance policy a few notches higher than individual health policies–

  • Helps small businesses save money and make the most of the facilities available
  • Aids in improving the retention of top talent
  • Reduces company expenses in acquiring and retaining the right employees
  • Businesses can enjoy tax benefits on the premiums paid
  • Improves employee loyalty and increases productivity

What Is Covered in Group Insurance Policy?

Like other health insurance plans, the best group insurance policy in India would cover the eligible employees against healthcare expenses, including pre-hospitalization charges, in-patient hospitalization expenses, ambulance and transportation, post-hospitalization charges, and more.   

What Is Not Covered in Group Insurance Policy?

Individual insurance plans come with a wide array of exclusions. The best group insurance policy in India specifies areas it won’t cover. Still, the list is not as comprehensive and includes pre-existing illness, external durable items, war/radiation-induced illness/injuries, voluntary medical tests, and dental and pregnancy-related treatments.

Benefits of Group Health Insurance for Employers

Here is how choosing the best group insurance policy can bode well for employers–

  • The emphasis on taking care of valuable employees helps the brand in generating goodwill
  • Helps in attracting and retaining the right talent
  • Enables the brand to reduce costs per employee
  • The employer is eligible to avail of several tax benefits by paying a premium for group insurance policies
  • Because the policy covers a handful of people, there is a lower chance of issues during claim approval

Benefits of Group Health Insurance for Employees

Here is how employees benefit from being a part of group insurance policy –

  • Offers coverage with lower restrictions than most individual health policies
  • The terms of group insurance policy with respect to health check-ups, waiting period, and other aspects are usually more lenient than individual health policies
  • Most group insurance policies extend their coverage to family members of the employees covered.
  • Provides broad coverage for most health-related aspects

How Does Group Insurance Policy Work?

An employer purchases a group health insurance policy and then offers it to their employees. These plans cannot be availed of by individuals and require at least 70% of participation for them to be valid. Once the organization zeroes in on a plan, the workforce is given an option to accept or decline coverage.

The best group insurance policies in India also come with tier-based plans, where the employer can avail of basic coverage or advanced coverage with riders depending on the importance of the employee.

In most cases, the employer and the employee split the premium outflow. Depending on the chosen premium payment plan, the apportioned amount can be deducted monthly, quarterly, half-yearly, or annually.   

How to File a Claim for Group Health Insurance?

The insurer has a tie-up with a myriad of hospitals all across the country. The insured is required to get treatment in a network hospital. The family members are responsible for providing the policy details and other required documentation to the hospital.

After getting discharged, the employee will have to send all the expenses related to hospital medical bills to the employer, who will then send it to the insurance company. The insurer will evaluate the authenticity and the coverage and will get the claim settled after verification.

Why Choose Vital’s Group Health Cover?

In most cases, group health insurance claims are a hassle-free affair and are resolved faster compared to individual health insurance policies. The biggest benefit of it is the exclusion of the waiting period criteria, enabling employees to be covered as soon as the policy activates. 

At Vital, we specialize in providing complete health coverage for your workforce. We have rolled out affordable monthly subscription plans that do not impact your cash flows negatively while providing ample coverage for all your employees’ healthcare needs.

In addition, we have a completely digitized process where you can navigate all your benefits and other terms via our app. You can also add and remove employees via your dashboard effortlessly. Click here to explore the best group health insurance policy in India with Vital.


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