Benefits in group policies can be customized for various employee groups based on their relative place in the organization via designation, tenure and salary, or based on their life-stage via marital status and family size
Standard exclusions of an individual plan can be covered under a group plan. For example, suicide cover in group term life insurance, or pre-existing ailments in group health insurance
Customized add-ons can be bought. For example, off-shore cover for group personal accident insurance
Flexible Economics
Payment options in group policy can be suited to match the needs of the organization. For large policies above 2 Crore in premium , employers can pay via installments
Employer funded group policies are annually renewable. At the time of renewal, employers can rengotiate cost based on their loss trends, size and benefit structure.
Employers have a wide choice of insurance companies. More importantly, the insurer can be changed annually without loss of historically earned benefits.
Employee Friendly Design
Employee benefits policies can be continued by the employee after leaving the firm. For example, group health insurance can be ported to an individual health insurance plan. Employee can then carry forward the lapsed waiting period
Old policies can be transfered to employees at original cost. For example, employer-employee life insurance, can be continued by an employee, if employer transfers the policy
Corporate insurance policies can offer supplementary cover at employee’s cost such as top-up health insurance.
