Personal Loan Procedure & Eligibility

A Group Health Insurance is a type of health insurance plan that covers a group of people who work under the same organisation. This is often offered as a valuable benefit for employees as the premium for the same is usually borne completely by the employer. The group health insurance coverage can be extended to the family members of the employees in some cases (parents, dependents etc). This insurance plan is also referred to as corporate health insurance or employee health insurance.

However, the price for this is comparatively much lesser as compared to individual health insurance plans. This also benefits employers in tax reductions, therefore making it beneficial for both the employer and employee.

A Group Health Insurance entails that the policyholder will be an organisation, and sub-policies will be given to its members. Usually, only one person will be covered in that policy.

In a Retail Health Policy, on the other hand, the policyholder will be the customer, and it can be taken for an individual or for a family. It also provides NCB (No Claim Bonus), free medical check-ups, and even portability to other insurance companies.

For self-employed individuals, a day off from work due to ill health or a medical emergency can result in loss of business, thereby increasing chances of financial stress. For peace of mind and financial stability in such times, as a self-employed individual, you must have a health insurance plan. The health insurance policy will help you get the required medical treatment and meet financial requirements in times of need.