Group insurance for employees strengthens workforce

The backbone of any company is on its employees. So, it becomes essential to secure their health with group insurance for employees.

Employee physical health is one of the biggest concerns in today's competitive and high pressure work environment.  Taking care for the well being and health of the employees as well as their families, works as a great motivating factor which further leads them to deliver their best output in their work field. Also, employees being the most valuable resource it becomes the responsibility of every company to secure their health. Let us focus upon the key benefits of group insurance for employees.

-A group insurance reduces per person premium, for example life insurance coverage for Rupees two Lakh may cost Rs 200 per annum in a group policy, while the same plan when opt by a single person will cost Rupees 400 per annum.

- The waiting period for commencement of a cover reduces irrespective of age, gender, class etc.

-Instead of verification or evaluation of every single individual one by one, in a group insurance all employees automatically becomes eligible for the insurance plan. Hence, it saves time.

-Policy servicing gets easier, better and faster giving minimum headaches to the employer.

-Through payroll deductions premiums are paid, which gives no extra hassle to the employees.

-At the time of need, every employee gets emergency insurance coverage, even if they have a personal policy. This leads to take better care for employee’s health.

-Employees get benefited from reasonable healthcare. Apart from that, by group health insurance packages an employee can obtain special treatments that may be too expensive to bear otherwise for an individual.

Most of the companies and organizations are now offering several group insurance plans which also act as benefits package to their employees. When a company buys a health insurance policy in a group, not only the group of employees becomes insured, also the company gets good returns from the investments. The individual employee who has participated in the group insurance plan is issued the insurance certification which acts as a health plan. Along with peace of mind, these group health insurances helps to lead a tension free, healthier life and making them more successful as an corporate employee.