- About Coverfox
Group health insurance policy is a type of health insurance or mediclaim plan that provides coverage to a group of employees of an organization. The employees can avail the health cover for themselves or their family members as per the given sum insured. Every major company (private and public) is required to provide group cover to their respective employees on an annual basis.
For the employees, it is a perk of working in the company and does not require any premium payment from their (employees) side.
Not everyone in India can afford health insurance coverage. A group employee cover is ideal for salaried individuals who cannot buy a separate health insurance coverage policy. The best part about group health cover is that it is completely provided by the employer/organization. You, as an employee, are not required to pay for the premium amount.
In addition, the employees also have an option to include their respective family members under a corporate group cover (spouse, children, and parents). Employers can avail of the following gains, such as tax benefits, low-cost cover, motivated employees, and increased employee retention.
Note: The day an employee resigns from the company, the group cover will not be applicable.
Here are the key benefits of getting covered under a group insurance coverage policy.
Employees do not have to pay for the cover. It is provided by the employer
There is no health-check up required
Pre-existing diseases and illnesses are covered from day one
There is no waiting period
Comes with maternity benefit and newborn baby cover
Provides comprehensive cover against a number of diseases and conditions
Low premium payment in comparison to individual healthcare policies
Provides tax benefits to the employer
Employees remain highly motivated; reduces retention
Who can be Covered in a Group Health Plan?
If you are an employer looking for a new group health coverage plan, you have come to the right place. At Coverfox, you can buy, compare, and renew top group health insurance plans from the best insurance providers in India. Call us on 1800 209 9930 to know more.
Here is a list of things to consider before buying a group health cover:
Here is a list of the best health insurance policies in India for 2020. Get complete details on Coverfox.
|Insurance Company/Plan||COVID-19 Cover||Network Hospitals||Renewable Option|
|Royal Sundaram Group Insurance Plan||Yes||3000+||Lifelong Available|
|Oriental Group Insurance Cover Plan||Yes||4300+||Lifelong Available|
|National Insurance Group Cover||Yes||6000+||Lifelong Available|
|New India Assurance Group Cover||Yes||1200+||Lifelong Available|
|Universal Sompo Group Insurance||Yes||4000+||Lifelong Available|
|Cholamandam MS Group Insurance||Yes||8000+||Lifelong Available|
|HDFC ERGO Group Insurance||Yes||10000+||Lifelong Available|
|IFFCO Tokio General Group Insurance||Yes||4200+||Lifelong Available|
|Start and Health Allied Group Insurance||Yes||9800+||Lifelong Available|
|Manipal Cigna Group Health Insurance||Yes||4500+||Lifelong Available|
|SBI General Group Insurance Cover||Yes||3000+||Lifelong Available|
|Care Health Group Cover||Yes||5400+||Lifelong Available|
|Max Bupa Group Health Insurance Cover||Yes||4000+||Lifelong Available|
|ICICI Lombard Group Health Insurance||Yes||6500+||Lifelong Available|
|Edelweiss General Insurance Group Cover||Yes||2500+||Lifelong Available|
|Bharti AXA General Insurance Group Cover||Yes||4500+||Lifelong Available|
|Bajaj Allianz General Insurance Group Cover||Yes||6500+||Lifelong Available|
Note: All information has been sourced from the official website of the respective insurers.
In Simple Words,
If you are a salaried employee, you will be entitled to a group cover by your company. A group cover is essential if you do not have an alternate health insurance plan. Get complete details on group health insurance policies online on Coverfox.