How Group Health Insurance Policy Can Benefit Both Employees and Employers


You can protect your workers and employees from accidents, work-related injuries, disability or any other hazards when they come to work by taking a group health insurance for your employees. Basis the coverage you buy, a group medical insurance policy will provide healthcare cover to every employee in your organisation and in some cases also extend coverage to their families.

What is a group health insurance policy?

A group health insurance policy will provide coverage to the people belonging to the same group. These insurance plans are uniform in nature, therefore all the employees covered by the group policy will enjoy the same benefits. Any organisation can either design their insurance plan or choose a pre-planned group health insurance policy offered by an insurer of repute.

You can buy Employee Health Insurance provided by reliable financial institutions such as Bajaj Finserv to get a sum insured of up to Rs.50 lakh for every individual. Apart from this, you can benefit from coverage for dependents (spouse and children), cashless claims procedure, add-on benefits and a flexible tenor. Moreover, Bajaj Finserv offers you perks by way of discounts and waivers when you cover a group of people through one policy. Inclusions of an Employee Health Insurance policy include reimbursement for treatment, medicines, specialists and even an ambulance.

Here are the advantages of group medical insurance policy for both employees and employers.

Benefits for employees

  • Group health insurance policies cover pre-existing diseases from the day you join the organisation offering the policy. Therefore, you won’t have to abide by a waiting period before you can make a claim.
  • You benefit from comprehensive coverage with this policy.
  • Usually, its maternity coverage includes both C-section and normal deliveries that will help you during a pregnancy. Some plans will also cover the new-born without having a maternity cover for a period of up to 90 days.
  • Group health insurance is a great way to reinforce your personal health insurance policy as well as that of your spouse and children.

Benefits for employers

  • In a competitive work environment retaining employees may seem difficult. However, if you offer your employees good benefits in the form of health insurance, it gives them a reason to continue working for the company.
  • You can enjoy tax benefits as per the stipulations of the Income Tax Act on the premium that you pay.
  • By purchasing a group health insurance policy you can provide better healthcare to more employees at a lower cost.

So the next time you are evaluating a job keep this perk in mind. On the other hand, if you are an employer looking to buy insurance for your employees, then before you do, check your pre-approved offer from Bajaj Finserv. It’s the simplest and quickest way to access adequate coverage affordably, without navigating tedious application processes.