|
When you purchase a health insurance policy, you are required to pay the provider a certain premium on that policy. This premium consists of a monetary payment payable at regular intervals, in return for which the consumer will receive his insurance money when he or she so needs. However, it is not always the consumer who directly deals with the healthcare provider on a first-hand basis. One of the several spin-offs on the concept of health insurance today is group health insurance. Group insurance policies are those that allow several individuals to avail of a policy collectively, usually through the organization that employs them. Thus, this medium of health insurance is also known as corporate health insurance. Most corporate bodies are obliged to provide healthcare benefits to their employees by law. In other countries, where this is not so, a cautious working class has learnt to ensure that they receive health benefits before they lend their services to a corporate businesses as employees. However, these groups need not necessarily share an employee-employer status, in which case the term corporate health insurance does not apply. A few advantages of group health insurance policies over individual health insurance is that most group insurance policies provide cover for pre-existing diseases, whereas individual insurance policies do so either after a given period of time, or not at all. Thus, if one already suffers from diabetes and would like to have it covered for through health insurance, they will be more likely to get it through a group plan. Another aspect of an individual health insurance policy is that the insured cannot make a claim from the insurer within the first thirty days of the policy becoming valid. However, group insurance plans often provide for this option. Furthermore, group insurance policies are known to offer maternity benefits to women, whereas individual insurance policies may allow women to make maternity claims only after a period of a year, perhaps even a few years, but most likely not at all. Yet another benefit of opting for health insurance in a group is that most group plans do not stipulate a medical examination prior to the granting the insurance policy. Individual plans, on the other hand, may require the insured to first undergo a thorough medical examination, usually conducted by a doctor chosen by the healthcare provider. As a result, the provider may choose to not grant the individual with insurance if the medical exam results do not look to be in the provider’s favor. Over and above these benefits, group insurance policies are presided over by a professional relationship manager, who works to find the best insurance options for the group and those who are a part of it. ________________________________________________________________________________________________ It is very essential to have a health insurance policy. Author Pranav Sharma is an experienced insurance professional and widely read expert on general insurance based in Mumbai. Pranav helps readers opt for best health insurance policy in India.
Related Articles -
Health Insurance, Health Insurance India, Health Insuance Online, Health Insurance Policies, Medical Insurance,
|
