Group health insurance plan is an insurance policy which covers many people under one plan. There are no predefined numbers for the people to be included in buying a group health insurance policy. To avail a group health insurance plan, the members of the group must be employees of a company or members of an organization. Employers or organizations offer Group/ employee health insurance policy in order to retain their employees/ members and to gain their trust for a longer period.
You can also avail a group health insurance policy if you are a self-employed individual. Many banking, as well as Non-Banking Financial Companies (NBFCs), offer group health insurance plans. However, the terms and conditions of every group health policy would vary from one financial provider to the other. There are two cases in which you can get a group health insurance plan, they are:
- If you are an employee – If you are an employee of any company, the company can buy the insurance plan for you. This can happen from the employer’s side in two ways; either they partially pay your premiums or completely pay your premiums. If your premium has been paid partially, the other part of your premium can be deducted from your salary.
- If you are self-employed – If you are self-employed, you can form a group of people who are interested in buying similar health insurance plan as you. The number of people to be in a group for registering under the group insurance policy is not predefined. The only thing to be taken care of is, you cannot find people for your group after convincing the group insurance plan provider.
Why should you prefer a group health insurance policy?
The health insurance for employee is beneficial and completely hassle-free as it requires less documentation with only a single group policy which works for each member who is covered under the plan. Also, you can get coverage for your spouse and children along with your group health insurance plan. For securing the group of employees, you have to pay an only single premium against all the medical expenses that may arise in the future. The procedure of group health insurance policy is easy and can be completed in comparatively lesser time.
Features & Benefits of Purchasing a Group Health Insurance
- Medical benefits
- Cover dependents
- Save time and money
- Cashless claims
- Comprehensive coverage
- Flexible terms
- Online application
- Extended benefits depending on the insurer
- No strain on employees
If you are not employed with any company, you can still be a part of a Health Insurance for employee in case your spouse, your children or your parent are a part of any company. Because, the group health insurance provided to the employees by their employer, also covers the spouse, children, and parents as beneficiaries of the policy.
Buying group health insurance policy through Bajaj Finserv
If you happen to be a loan customer of Bajaj Finserv, it will be effortless and quick for you to get the group health insurance. Bajaj Finserv provides certain discounts on the group health insurance policy and cashless facilities with easy reimbursements which makes it more beneficial for both, the employer and the employee. However, if you are not a loan customer even then, there is nothing to worry. Bajaj Finserv has the solution for all your queries. The company offers a wide range of health insurance plans from which you can choose the one that suits your financial requirements. Some additional benefits of availing health insurance plan from Bajaj Finserv includes a quick online application, hassle-free claim settlement, and affordable premium rates. Additionally, you can renew your policy online from the online portal of Bajaj Finserv.