Group Insurance
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Product Advantage
Group Health Insurance
Health
insurance significantly superior to individual covers. Group
Health is now a standard in many sectors. It is an important
consideration in attracting and retaining employees.
Group Personal Accident
Cover costs
of accident related injury or disability. Personal Accident
is particularly relevant when you have a large workforce on
the move. It covers permanent total disability, permanent
partial disability, temporary total disability and medical
expenses in an accident.
Group Term
Pays the family a large
amount if an employee dies for any reason. Group Term
ensures that the family is financially stable even if the
main wage earner in the family dies.
Statutory Covers
Workmen
Compensation, Group Gratuity, Group Superannuation, Group
EDLI. These are often contractual or statutory requirements
or address risks that are mandatory to take on. Manage your
regulatory requirements efficiently.
Group Travel
One insurance for all
travelers in the company. Group policies are easier to
manage than individual insurances, paperwork and
underwriting is simpler and renewal more effective.
Benefits Overview
Improves Employee Satisfaction
Companies that offer well designed group insurance policy for employees such as group health insurance, group personal accident and group term attract and retain employees more effectively.
Get Better Returns
Products such as Group Gratuity and Group Superannuation manage funds more effectively. This means that there is a higher probability of getting better returns on the funds.
Simplify Paperwork
Traditionally insurances pertaining to overseas travel were bought individually. When many people travel frequently this is cumbersome to manage. A group travel policy can provide 24/7 cover to all traveling employees in one insurance. This very concept is also possible for health, accident and other such insurances.
Get Competitive Prices
Group insurance allows you to buy excellent cover at competitive rates. That’s because group cover tends to pool risk together and gives economies of scale.
Administer With Ease
Group policies are easier to manage than individual insurances. The paperwork as well as the underwriting processes are far simpler. Renewal is more effective since it is easy to keep track of a single insurance.
Better Claims Settlement
Because group plans have fewer restrictions and are managed by experienced intermediaries, claims settlement is better and faster.
Why SecureNow
Deep
Product Knowledge
Product Knowledge
We have specialized underwriters and tie-ups with international experts.
Cost-effective
Insurance
Insurance
We work with all insurers to get you the best options- both in terms of price and features.
Quick Turnaround
Cover notes are issued within hours of request. This documentation is sufficient for any contractual requirement.
Strong Claim Support
We manage all aspects of your claim - from preparing documentation to follow-up with the insurer.
Value Added
Services
Services
We will advice you on risk management best practices.
Policy Administration
System (PAM)
System (PAM)
See all your contracts renewal information in one place. Place service requests on PAM.
Mint SecureNow
Mediclaim Rating
Mediclaim Rating
A comprehensive, fact-based rating of all the individual health insurance products in the market. This is the benchmark for comparing health insurance.
Notify
An android and iOS app to keep track of all your insurances. Get insurance contracts and other details instantly. Renewal reminders sent over phone and email.
FAQs
Group insurance policy is usually
taken by employers for a group of employees as part of welfare
scheme. Such policies may also be offered by Banks to a group
of same credit card holders etc. In some cases insurers will
allow a non-employer employee group to be formed.
The premium amount of such
insurance schemes is less because a single policy covers a
large groups of people, which brings down the administrative
cost and paper work, this lowering the premium amount. Also, a
large group gives more negotiating power to the employer
vis-à-vis the insurer.
Group Insurance scheme can be broadly classified as -
Statutory –
- Group Employee's Deposit Linked Insurance (EDLI)
- Group Gratuity
- Workmen Compensation
Voluntary –
- Group Health Insurance
- Group Term Insurance
- Group Superannuation
The number of members of a group
largely depends upon the type of policy and statutory
obligations. It also depends upon the discretion of the
insurer. Generally groups can be formed with as few as 5
people.
Exclusions depends upon the terms
and condition of the respective group policy and varies for
each corporate.
Much of the research can be done
online. However, most insurers will insist on some traditional
paperwork such as a signed proposal form.
