₹1 Lakh cover starting at ₹110/month/employee+
View Plans
With employee satisfaction become a priority for most business owners these days, many companies have started providing extensive perks to their team members. Often confused with each other, group personal accident insurance and group mediclaim policy are among the most commonly provided employee benefit programs. Both of these help employees with any unexpected health emergencies and related financial burdens. Read on to know more about these plans.
Affordable prices
Dedicated claims manager
All round wellness benefits
As the name indicates, a group medical coverage policy is a customized program offered to a set of people with the same benefits to all its members. This plan offers assistance with hospitalization expenses, reimbursements of out-patient expenses, maternity care, and also covers families in many cases.
Group personal accident is specifically tailored for any damages caused due to accidents, injuries, or such. This plan covers you even if the employee is off duty or not, in the country or outside. It also has options for benefits like ambulance charges, education cover for two dependents, and other add-ons.
While both plans are made for a group of employees, there are some distinct differences. Here’s a table to help you understand these better:
Categories |
Group Mediclaim Policy |
Group Personal Accident Insurance |
Purpose |
A broad plan covering the health needs and medical expenses of all the employees |
A plan tailored to protect employees mostly from sudden accidents or injuries that may render them disabled or deceased |
Family Cover |
Extended to employee’s family |
Covers only several accident-related bodily injuries or the death of the employee |
Limitations |
Treatments carried outside the policy’s geographical limits are not covered |
Treatments will be covered irrespective of the geographical area |
Benefits |
Helps with financial expenses incurred due to diseases, injuries, non-fatal accidents, maternity, and child care expenses, etc. |
Provides reimbursements only in cases of juries or death caused by accidents and other consequent expenses as per the policy. |
Like explained previously, this policy provides help with the treatment and hospitalization expenses of usual health concerns as covered by the policy. The premium paid is significantly lower than individual plans and hence very affordable for everyone. Here are some of its benefits offered:
This plan is tailored to assist employees who may face unfortunate accidents that are fatal or render them injured or disabled. Because of its huge coverage, it is also known as 24- hour worldwide accident policy. Here are its benefits:
As it is with most group insurance plans, there are some circumstances where these plans will not provide any compensation or benefits. A few of them are:
Other than the benefits and safety that a group health insurance plan offers, here are a few reasons why they are good for both the employer and their teams:
To Conclude
Both group health insurance and group personal accident insurance are plans made to suit the different needs of employees. The plans can be customized depending on the requirements of the group as well as with other add-ons which the employee can purchase. In case of unfortunate accidents or sickness, corporate group health insurance can be very helpful for the employer and the employee, along with their family.
Group Health Insurance Premium Calculator
Who do you want to insure?
Minimum lives should be 7
Include maternity coverage
Wellness At Work
Benefits of group health insurance