Health insurance is one of the most important insurance covers. It’s the second most bought insurance afterlife insurance in our country. Employers always try to offer the employees to buy group health insurance, as an employee benefits package as it covers all the employees under a single master policy and is available at economical pricing.
With the availability of so many group health insurers in India, it has become easy to go for group health insurance for startups. Still, not all startups like the idea to buy group health insurance for their teams. One of the key reasons is the low awareness among startups of various plans available in the market.
Additional Read: How to buy a Group Health Policy?
A reputed intermediary like an insurance broker can help a startup tremendously by offering competitive group health insurance quotes and a personalized servicing experience in comparison to a single insurer.
Importance of group health plan considered by startups:
- Universal Plan: Irrespective of the size of the firm or industry nature, this policy can be taken by most start-ups. No matter if your start-up has 10 people or 50 people, group health insurance is a relevant plan.
- Sense of Security for Employees: Joining a startup is usually considered a risky proposition. Companies can build a trust factor for employees through this as a value/benefit and can also come at par with other companies in the market. It also helps in retaining the workforce. This will also attract good talent to your company.
- Cost-Effective Plan: Being a startup, there is a high probability of having a lot of young employees in the team. So by the virtue of the age factor, a cost-effective plan can be available for the first-timers. There are also options to include parents.
- Investment for long-run productivity: This plan provides a sense of financial stability and peace of mind to your employees which fosters productivity in the organization. This plan facilitates motivation as it provides a financial shield at the time of medical emergencies.
- Good reputation in the market: A comprehensive health plan attracts better talent. Word of mouth is an important factor that can place your startup amongst front runners as a leading employer. Enjoy the perks, valued internally and externally because of this good investment.
Additional Read: How Group health insurance plans can help small-and-medium-scale businesses in India
Written By-
Mayank Sharma
MBA Finance
He is a professional who brings extensive knowledge and expertise to the field of group health insurance. He has dedicated 7years to helping individuals and businesses navigate the complexities of insurance. Having worked closely with numerous clients and insurance providers, he deeply understands the nuances of group health insurance policies. With a reputation for providing insightful and informative content, he leverages his industry experience to educate readers about the importance of group health insurance and its benefits. Through their articles, Mayank Sharma aims to empower individuals and businesses to make informed decisions about their healthcare coverage, ultimately promoting healthier and more secure communities.
