It is quite common for an employee’s cost-to-company (CTC) to include the insurance premium paid by the employer. This insurance premium could be for several group policies, including group health insurance, group term life, and group personal accident. Differentiated insurance benefits based on Group grades A large number of employees do not pay close attention […]
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 financial security. After retirement and in special cases like accidents, physical injury, or bad health conditions. The benefits of the Group Policy […]
5 Group Policies which are a must for any Organization
A successful organization is made with the efforts of its employees. They work efficiently together to take the organization to desired heights. Being the owner, it is your responsibility to work towards the welfare of your employees. You would realize that constant motivation is the key to the efficient work of any employee, whether a […]
Types of Group Insurance Policies available in India
Following are the different types of Group Insurance Policies available in India: 1. Group Term Life Cover(Group Term Plan): This type of policy offers a life cover to each member (insured) working in the group (organization). While the premium is collected from the group owner, same can be deducted from the salary of the employees […]
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 […]
Can You Buy a Group Insurance Policy for Your Group/Association?
You can buy a group insurance policy if there are members who gather together with a common purpose or engage in a common activity. Further, there are some other guidelines that should be considered to buy a group insurance policy, like: 1. Most of the group insurance policies are about the employer-employee. However, other groups […]
What are the Benefits of a Group Insurance Policy?
As the term itself says, a group insurance policy is designed to offer insurance cover to various groups of people, like employers-employees, professionals, cooperative societies, credit card holders, etc. The main motive is to offer insurance cover to people at low premium rates. Most of the insurers in India have come up with group insurance […]
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 […]