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Paybima

Group Medical Accident

Deciding the group medical policy can be quite the hassle for you. How can one take the best call?

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Group Medical Insurance Policy

If you thought that a health insurance plan can be availed only by an individual and his family, think again. There are group mediclaim plans as well which offer coverage to the members of a registered group. If you are also a part of a registered group and your group has bought a mediclaim policy, you can also enjoy health insurance coverage under the group medical insurance policy. Let us understand the policy in details.

Features of a group medical insurance policy

A group mediclaim insurance plan has various unique features which are as follows:

Eligible groups

A group, to avail a medical insurance policy for its members, has to be registered and recognized. The members must not form a group only for the purpose of insurance. Some commonly accepted groups which can buy group medical insurance policy include:

  • Employer-employee groups
  • Clubs
  • Trade unions
  • Societies, etc.

Policy issued

One policy is issued covering all the members of the group. The policy is called a Master Policy and is issued for one year. After every year, the policy has to be renewed.

Sum Insured

The Sum Insured offered under a group mediclaim policy is usually limited in nature. It might be different for every member or a flat cover for all members. The Sum Insured can also be uniform across members in a particular level in the group.

Premiums

The best part about group mediclaim policies is the lower premium rates. Premiums are lower in group plans than in individual health insurance plans

Continuity

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