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Group Insurance

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Group Insurance 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 of Group Insurance

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.

How does Group Insurance work?
How to Get a Quote?

You can get quotes for your choice of group insurance plan online with few clicks. Some of the group insurance plan may not have online calculator. For these our team will connect with you within 24 hours and provide you quotes related to your choice of group cover.

Documents Required to Get the Policy?

List of documents varies from one group insurance plan to other. However, some basic documents will be needed for almost all group insurance plans:


  • Proposal Form
  • Declaration Form
  • Reports as required by the Insurer
  • Any other Document as required by the insurer

The documents may vary depending on the type of group insurance scheme you opt for. Some of these documents are commonly required across all group insurance plans.

How to file a Claim?

Group insurance claim documentation ranges from the type of claim filed and the policy. In all cases it is important to:


  • Notify the insurance company/agent/TPA of the insurer as soon as possible about the possibility of a claim
  • Provide all the relevant documentation and information about the incident
  • Cooperate with the investigator/evaluator assigned by the insurer

Why SecureNow

Deep
Product Knowledge

We have specialized underwriters and tie-ups with international experts.

Cost-effective
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

We will advice you on risk management best practices.

Policy Administration
System (PAM)

See all your contracts renewal information in one place. Place service requests on PAM.

Mint SecureNow
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.

PROPOSAL FORMS
CLAIM FORMS
POLICY WORDINGS
NETWORK HOSPITAL LIST

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.

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