Why one needs Group Health insurance? In today’s uncertain times, having a Group Health Insurance policy or Group Medical Insurance has become increasingly essential for both employers and employees. A comprehensive group health plan not only provides financial protection to employees and their families but also benefits employers by attracting and retaining a talented workforce. This […]
Why are Insurtech platforms changing the Insurance Landscape?
The insurance industry is undergoing a major rethink. With the rise of digitalization and innovation, there has been a steady growth in new technologies, products, and services that are revolutionizing the industry. Consequently, a new industry has come into being: Insurtech. The advancement of tech in the insurance sector has been remarkable. Insurtech is making […]
Are Full-Stack Digital Insurers Truly Disruptive?
Full-Stack Digital Insurers are insurance firms that are fully licensed and controlled by a regulatory authority. At the outset, not every InsureTech firm is eager to collaborate with incumbents. Many platforms highlighted in the ecosystem are actively attempting to outmatch incumbents. But whether such platforms will actually succeed is yet to be seen. This viewpoint […]
Can you cancel your policy and seek refund during the policy period?
You are allowed to cancel your policy anytime during the policy period provided there is no settled or outstanding claim in the policy. All you need to do is to send a written request to the insurer for cancellation along with the reason for cancellation. The insurer accepts the following reasons for policy cancellation – […]
What are the limitations of a Group Health Insurance for an employee?
Though group health insurance policies are extremely flexible by design in terms of enrollment and operability, they come with their own set of limitations. Below we highlight a few limitations of the group health insurance program – The employee has little or no control over their individual coverage. Designed the benefit structure of the […]
Types of endorsement scales in group medical insurances
As an organization contemplating group medical coverage (GMC), you might have encountered different types of endorsement methods. This post helps to make sense of these endorsement methods. Insurers frequently use two types of endorsements methods in the case of group medical insurance: Pro-rata As the name suggests, pro-rata means proportionate. In this endorsement method, the […]
Why do I need a group health insurance policy?
A group health insurance policy covers a group of individuals under a single plan. The policy features affordable premiums and provides good health coverage to the insured members of the group. Corporations usually opt for a group medical insurance policy as an employee welfare benefit. The policy covers the employees of the organization for their […]
Importance of Group Health insurance – Infographic
These days more and more companies have become employee-centric and group health insurance has become one of the most preferred benefits to attract and retain talented employees. Group health insurance policy or Group Medical Insurance can provide a number of benefits for individuals. One of the main advantages is the cost savings that can be realized through […]
Five healthcare benefits only available in a Group Health Insurance Policy
One of the most important goals that any employer seeks to achieve is employee satisfaction. An organization may provide various facilities to make its employees feel comfortable. These include suitable parking space in the office area, good-quality stationery, and free beverages or decent food options in the office canteen. Some organizations also organize free medical […]
Can startups buy group medical insurance?
Most group health insurance plans need a minimum of 20 members, but many early startups usually have only 8-10 employees. If you own a startup, you can always pick a group health insurance policy that covers both employees and their immediate family members. In doing so, you can reach the minimum limits set by the […]