health insurance

What is Group/Employee Health Insurance?

Group/Employee Health Insurance Plan Definition

Group insurance is a type of insurance plan that covers a pre determined group of people under one single policy. The groups can be employer-employee or non employer-employee (For e.g, holders of the same credit card, savings bank account holders of a bank or members of the same social or cultural association and so on). Like most insurance policies, group policies cover a host of medical expenses, based on the policy chosen by the group. Some plans covering group medical insurance for employees ensure coverage for hospitalization, boarding costs, consultant fees, anesthesia charges, costs of diagnostic materials and oxygen and X-ray and dialysis charges among others. Cashless facilities are available and bills are directly settled with hospitals. There is coverage for post and pre hospitalization charges for a particular time period. There may be maternity benefits available for some policies. There may be hospitalization coverage for procedures like chemotherapy, tonsillectomy and eye surgery.

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There may be extended coverage for specific ailments over and above the benefits of hospitalization. There may be coverage for pre-existing ailments post payment of extra premiums. Domiciliary expenditures may be covered by some policies as well. Benefits which are optional include waiting period waivers, ambulance charge reimbursements and first year exclusions.

Disclaimer - *Conditions apply. This product is offered under the Group Insurance scheme wherein Bajaj Finance Limited is the Master policyholder. The insurance coverage is provided by our partner Insurance Company. Bajaj Finance Limited does not underwrite the risk. IRDAI Corporate Agency Registration Number CA0101. The above mentioned benefits and premium amount are subject to various factors such as age of insured, lifestyle habits, health, etc (if applicable). BFL does NOT hold any responsibility for the issuance, quality, serviceability, maintenance and any claims post sale. This product provides insurance coverage. Purchase of this product is purely voluntary in nature. BFL does not compel any of its customers to mandatorily purchase any third party products.”