Group health insurance is a type of health insurance policy also known as the employee health insurance policy is usually taken by the organisations to provide health insurance cover to their employees and their families in certain situations. Group health insurance is a tailor made policy which can be customizable as per the needs and requirements of the customer. Most of the insurance companies offer group health insurance or employee health insurance policy as per the needs and requirements of the customers.
The group health insurance policy can be partially or completely funded by the employees depending on the understanding between the employer and the employees. Employees can even avail income tax exemptions for the premium paid towards the employee health insurance policy. According to the section 80D of income tax, the maximum deduction one can avail from the amount paid towards health insurance premium and preventive health check-ups is ₹1 lakh.
The employee health insurance policy doesn’t have waiting periods unlike the retail or personal health insurance policy. A health insurance policy can have waiting periods for upto 4 years from the date of taking the policy for the first time. The group health insurance policy may include maternity and newborn cover on payment of additional premium. The premium of a group health insurance policy cannot be given upfront as the policy is a customized policy where many factors decide the premium.
- ICICI Lombard GHI:- The group health insurance policy from ICICI Lombard stands in the list of top 5 GHI policies in the market. ICICI Lombard provides many value Add-ons such as health checkup, eye checkup, unlimited online doctor consultation etc. The premium of ICICI Lombard justifies the coverage offered.
- HDFC Ergo GHI:- The group health insurance from HDFC ergo is the most sought after Insurance in the Indian market. They offer coverage such as inpatient hospitalization, network hospitals, cashless claim settlement facility, maternity benefits, newborn child cover etc. at reasonable rates.
- Star Health GHI:- Star health insurance is the pioneer in the health insurance segment in India in both market share and innovation. Star health insurance takes a larger pie in the health insurance business in India. Almost 40%-50% of the group health insurance business done in India is through Star health insurance. They offer different health insurance products apart from the group health insurance.
- Nivi Bupa GHI:- Nivi Bupa health insurance is one of the top 5 in the group health insurance policy in India. Nivi Bupa offers group health insurance policy as per the needs and requirements of the customers with many add-ons such as check-ups, consultations etc.
Bajaj Allianz GHI:- Bajaj Allianz is one of the top 5 insurance companies in India. They offer different health insurance policies in addition to the group health insurance policy. The group health insurance policy from Bajaj Allianz is very simple and competitive in the insurance market. They offer Maternity cover, pre and post Hospitalization cover etc. as a part of the group health insurance policy.
