Bajaj Allianz Group Health Insurance

In India, most organizations provide group health insurance policies to their employees along with profit sharing, bonuses, gratuity, meal coupons, and other facilities like a pension plan, childcare, work from home, and many more.

Generally, a group health insurance policy is customized for every organization as per the requirements of their employees. A group health insurance policy takes care of all the expenses related to various health care services that the employees of a company and the family of the employees, if covered.

Under a group health insurance policy, the sum insured is the same for all the employees, and employees are as well given an option to increase the sum insured as per the requirements. The premium that is paid towards a Group Health Insurance plan can be shared between employee and employer. However, in some cases, the employer pays the complete premium amount and thus offers the benefits of a health insurance policy for free to its employees.

One such group health insurance plan is Bajaj Allianz Group Health Insurance. It has many features and benefits that can help an employer to provide financial protection to its employees in case of health issues.

Features and Benefits of Bajaj Allianz Group Health Insurance

Provides better healthcare services to the employees of an organization that has taken this plan.
The policy offers cashless claim settlement in more than 6000 network hospitals.
It provides comprehensive healthcare service at affordable premiums.
The company has 24x7 customer support.
Bajaj Allianz Health Insurance Company has its in-house Health Administration Team that provides quick disbursement of claims.
Provides the option of family floater and individual cover.
The policy offers income tax benefits U/S 80C of the IT Act.

Bajaj Allianz Group Health Insurance – Inclusions:

The inclusion of coverage offered by this policy are as follows:

Charges of the ambulance are covered.
Expenses of a newborn baby and maternity hospitalization expenses are covered.
Pre-existing diseases are also covered.
All the expenses related to daycare procedures are covered.
Post and pre-hospitalization expenses are offered.
Charges of operation theatre are also covered.
Pacemaker cost, dialysis expenses, expenses of organ transplant, radiotherapy, and chemotherapy expenses are also covered.

Bajaj Allianz Group Health Insurance – Exclusions:

The exclusions of a Bajaj Allianz Group Health Insurance policy are as follows:

Self-injury or self-harm is not included.
Injuries that are caused because of any involvement of the policyholder in criminal activities are not included.
HIV and AIDS treatments are not covered.
Injuries incurred because of being a victim of any criminal activity are not covered.
Suicide and attempt to suicide are also not covered.
Plastic and cosmetic surgeries unless they are suggested medically are as well not covered under the group health insurance policy offered by Bajaj Allianz Health Insurance Company.

Bajaj Allianz Group Health Insurance - FAQs

Q1: What are tax benefits offered under the Bajaj Allianz Group Health Insurance plan?

Ans: The premiums that one pays against a group health insurance policy offered by Bajaj Allianz Health Insurance Company are eligible for tax deductions U/S 80C of the Income Tax Act, 1961.

However, tax benefits offered under group health insurance plans are subject to some other conditions as well. So, it is suggested to check with the tax consultant to ensure the fulfillment of various other conditions before going to make any claim.

Q2: What are the various types of groups that can be considered in a group health insurance plan?

Ans: The groups are generally classified into two types – a group of employers – employees and a group of non-employers – employees. Generally, the groups that opt for a group health insurance plan are an employers-employees group. However, in the case of a non-employers-employees group, the group members have to have the same or common purpose or they must engage in common economic activity. A society and employee welfare association are some of the examples of a non-employer – employee group. A group must not be formed to avail benefits of a group health insurance plan.

Q3: Can an individual opt for a group health insurance policy?

Ans: No, an individual is not eligible to opt for a group health insurance policy. For availing the benefits of a group health insurance policy, you have to be part of a group.

Written By: PolicyBazaar - Updated: 22 March 2021

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