Insurance is an important component of your employee benefits packages. More employees today have access to group medical insurance policies which cover medical, dental and vision expenses as well as life insurance for their families. Insuring your employees takes planning. However, there are several types of plans to choose from when deciding how best to cover […]
Articles Tagged: Group Insurance Policy
What is Group Insurance Policy?
Group Insurance Policy refers to the type of health insurance that covers a ‘group’ of people instead of one individual. So, the only condition is for all members of one group to include in a single policy is that the group’s risk should be homogeneous. The ‘Groups’ can be of two types: Formal Groups (Employer-Employee): […]
How can I structure a Group Insurance Policy for employees ?
Structuring a Group Insurance policy depends on the structure of the organization. Small organizations; i.e. those consisting of less than 50 employees, will have a very different set of hierarchy than that of a large organization comprised of 10,000 employees. Depending on the homogeneity of the group members the organization may even have to purchase […]
Don’t have to declare existing insurance when buying new one
Published in Mint on 17th Feb 2015, Written by Abhishek Bondia I suffered a fire-related accident at home and was hospitalized. I have two insurance policies. How can I claim from these companies as the hospital said it will provide only one discharge form? —Karen D’Silva Most medical insurance policies are indemnity policies. You are […]
Relevant information in group insurance proposal
Relevant information in group insurance proposal When discussing insurance, a proposal is a request to provide insurance or in other words, the form that you fill when you want to buy insurance. Relevant information What then is relevant information in the context of an insurance proposal? This refers to the facts and information that the […]
What all benefits are coverable under a group insurance policy?
As the term itself says, a group insurance policy offers insurance cover to a group of people, which can be employers-employees, professionals, cooperative societies, and certain other sections. The benefits of group insurance policies are available to people irrespective of their age, economic background as well as profession as long as they remain members of […]