How does Group Insurance Cover work?

The group insurance cover is the single contract taken by a group administrator (i.e. a company, a society, etc.). The contract provides coverage to multiple beneficiaries (group members), i.e. the employees of the company. The administrator is responsible for the payment of premium in respect of a group policy. In case of any incident (which […]

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Types of Group Insurance Policies available in India

Following are the different types of group insurance policies available in India: Group Term Life Cover:This type of policy offers a life cover to each member (insured) working in the group (organisation). The premium is collected from the group owner which can be deducted from the salary of the employees on a monthly basis. Group […]

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How can I structure a Group Insurance Policy for employees ?

Structuring a Group Health policy depends on the structure of the organization. Small organizations; i.e. those consisting 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 different […]

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When Relying on Insurance Covers offered by Employer is a Good Idea?

Group Insurance schemes are often looked down upon in comparison to an individual insurance policy (said to have a greater benefit of customization). It seems as if there are no probable advantages to Group Insurance schemes and one can do without them as well. But, the reality differs a bit. Group Insurance provided by any […]

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