What are the advantages and disadvantages of a group-based indemnity policy?

What are the advantages and disadvantages of a group-based indemnity policy? A Group based indemnity policy comes with both advantages and disadvantages. Advantages – 1. Waiver of medical underwriting – Medical tests are not mandatory for group insurance schemes. Hence policy issuance is guaranteed for members who may have pre-existing medical conditions. 2. Waiver of […]

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10 Factors Organisations Must Be Aware Of While Offering A Group Policy

Group Insurance Schemes can be one of the best employee benefits that an organization can provide to its employees. These policies enable the employer to fulfill the individual’s personal requirements by providing him the financial security after retirement and in special cases like accidents, physical injury, or bad health condition. The benefits of the Group […]

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5 Group Policies which are a must for any Organisation

A successful organisation is made with the efforts of its employees. They work efficiently together to take the organisation to desired heights. Being the owner, it is considered as your responsibility to work towards the welfare of your employees. You would realise that constant motivation is the key to the efficient work of any employee, […]

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Conversation With SecureNow-Health Plan

Below video is an extract from Your Money show of CNBC Awaaz aired on 20th September 2016. The show discusses the importance of buying health insurance at an early age. It discusses no claim bonus and waiting period in mediclaim policies. It also shares a perspective on whether a person should buy an individual health […]

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Why India Needs an Obamacare Clone?

The Union budget of 2016-17 is being regarded as a progressive budget from the standpoint of health insurance. Under the new scheme, the government has announced coverage up to 1 lakh rupees per family. The premium of health insurance from has been increased from rupees 15,000 to 20,000 and from 20,000 to 30,000 for senior […]

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10 Benefits you should customize in a Group Insurance Policy

With increasingly stressful work environments and very less activity, majority of organizations are aware of the need to cover their employees with some sort of medical and personal accident coverage. While providing a group health insurance policy an organization or association, mainly covers various health aspects, health insurance coverage, affordability, and scope of benefits. What […]

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Few insurers give group term cover even for 10 employees

Published in Mint on, Dec 04 2012, Written by Kapil Mehta My adviser has asked me to purchase a keyman insurance. What are the benefits? —Singh Keyman is a term insurance that is purchased by a company on the life of its key personnel. If the key person dies, the death benefit is paid to […]

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Only the defined set of groups can buy group insurance

Published in Mint on 17 November, 2015, Written by Abhishek Bondia I am part of a large charitable trust. Can we buy life insurance policy for all members? We are not employees of the trust. —Karunesh Walia The Insurance Regulatory and Development Authority of India has defined eligible groups for the purpose of group insurance. […]

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Can a husband and wife have group health insurance?

Group health insurance plans are the healthcare benefits offered to the group, company or  all the eligible members of typically a group of employees. Most of the companies offering healthcare benefits for employees also allow them to avail cover for their dependent family members such as a spouse, dependent children and parents. That means group […]

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What are the advantages of group plans?

Generally, group insurance plans are purchased by the organisation or employers for their employees and for the well-being of their family. Group health insurance plans are customised based on the needs of the group and its members. Group plans offer numerous advantages to both employer (group) and employees (members). Following are the advantages offered by […]

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