GENERAL INSURANCE BLOG

A group health insurance plan for employees is a group mediclaim plan purchased by a company for all its employees. The employees get basic coverage against common ailments and treatments. The employers usually deduct a certain sum from the CTC of the employees to pay for the premium of the policy. Also, they may decide to either share the premium burden or pay it fully themselves.

This trend of insuring employees' health and well-being has been followed for a long time. It establishes a bond of trust and responsibility the company takes for its employees. But how exactly is group health insurance beneficial? Here are the perks of buying a group health insurance policy for employees.

1. Cost efficient:
Since such policies are bought to cover many people, insurance companies provide them at a good discount. If the employer buys the same number of health insurance plans individually for his employees, it will cost him much more.

2. Motivation booster:
A group health insurance policy is a symbol of the care and concern of an employer for his employees. The employees feel valued that the employer is taking care of them. This acts as a motivation, and they work in a more dedicated and devoted manner towards the company. Also, such policies act as a retention tool. Employees think twice before changing jobs since they feel attached to the employer and the company.

3. Zero waiting period for pre-existing diseases:
A regular health insurance policy provides coverage for pre-existing diseases after 3- 4 years of buying the policy. However, there is no waiting period for the coverage of certain pre-existing diseases, such as diabetes, hypertension, etc., under a group health insurance plan. Employees get full coverage for any possible medical expenditure from day one.

4. Preferential treatment:
The buyers of group health insurance policies are big customers for the insurance companies. Hence, the insurance companies cannot afford to annoy them and have to deal with them as a priority. The employees get preferential treatment at the time of passing of claims.

5. Maternity coverage:
Regular health insurance plans usually do not provide maternity coverage and assistance. However, a group health insurance plan comes with automatic maternity coverage. The newborn child also gets automatic protection under the policy as a dependent after 90 days of birth.

6. Full family cover:
The group insurance plans provide health insurance benefits for the employee and his family. He can avail of the benefits for up to 5 dependents at no extra cost. Family-floater plans under regular policies charge much higher premiums for providing similar coverage.

7. Premium as a business expense:
An employer who pays the premium for a group health insurance policy for his employees can claim it as a business expense. It is treated as a benefit that he is providing to his employees. He can book the expenses in the profit and loss account like a general business expense and save on taxes.

8. Validity of the policy:
As per the IRDAI, an employee can migrate to an individual health insurance policy from a group health insurance plan while leaving or changing his job. He will have to complete some formalities with the insurance company for the same. Also, this depends upon the insurance company to continue or terminate the policy.

9. No medical checkups:
Another benefit of a group health insurance plan is that it does not require any medical checkups of the employees before buying the policy. The usual health insurance plans require a medical checkup before issuing the policy.

Buying a group health insurance for employees is often a win-win situation for the employer and the employees. There are many benefits and perks of such policies, which we have already gone through above. Moreover, such a policy is compulsory for employers and mandatory by law. Choose the best health insurance company in India that takes care of your most valuable assets- your employees.

Click HERE to buy the best health insurance.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Cat eyes reflectors are also known as road studs or raised pavement markers. They are safety devices installed on the roads and reflect or emit light flashes at night. You can commonly see them on roads or highways while driving. Drivers use them as lane markers to guide vehicles on dark roads.

Cat eyes reflectors reflect light to a light source, such as a car’s headlights. Hence, when driving on a dark patch of road, these reflectors reflect back light to your vehicle. This helps you to identify the sides and centre of the road and minimise the chances of a mishap.

Types of cat eyes reflectors:

There are primarily four types of cat eyes reflectors in use.

1. Plastic:
Reflectors made of plastic are the least durable and not as strong as the other types of reflectors. They are good to use on the sides of bridges and highways.

2. Aluminium:
These reflectors are made of aluminium and hence, are strong enough to withstand the load of heavy vehicles. These have reflective objects installed inside them. They are also ideal to use in the middle of the roads because of their strength and durability.

3. Glass:
You will also spot reflectors made of hardened safety glass. They come with a coating on their bottoms that reflect the light back to the source.

4. LED:
LED cat eyes reflectors are the most advanced as they have solar panels on their tops. This acts as their energy source and helps them to emit blinking light at night. They provide the brightest light and have much better visibility than the above three types of reflectors.

Advantages of cat eyes reflectors:

● Enhanced visibility:
The primary advantage of cat eyes reflectors is to make night driving safe and secure and minimise the chances of accidents. They help to make corners of traffic lanes visible at night and ensure that the drivers do not skid away from the roads, especially at dangerous curves.

● Prevent unsafe lane changing:
Cat eyes reflectors mark the lanes on the roads. This ensures that vehicles do not frequently change lanes or swerve from one lane to another, causing accidents.

● Speed control:
Cat eyes reflectors also act as a road rumbling strip. The traffic automatically slows down while passing over them since they act as barriers to speed. Thus, they help to control rash driving.

● Durable and easy to install:
These reflectors are very durable, economical, and easy to install than other lane markers. They do not come out by themselves when attached to the roads. Also, there is very little chance of their theft. Hence, they have a very long life.

● Multi-coloured:
Cat eyes reflectors are multi-coloured. While this increases their aesthetic beauty, each colour has a special meaning too. White reflectors denote lane divisions and centre marking on the roads, and red reflectors denote lines that we cannot cross. Green reflectors denote the lines we can cross, such as entrances to service lanes.

Cat eyes reflectors are excellent warning devices on roads inside cities and highways. They have a special role on highways since there are few streetlights, and vehicles run at high speeds. The governments have increased their usage in recent years. It is a step in the right direction as they enhance the safety and security of all types of vehicles plying on the roads.

Similar to cat eyes reflectors, online motor insurance takes care of our vehicles in the best way possible. Buy motor insurance online and receive the safety and security of insurance combined with the convenience of buying it right from your home or workplace without visiting the insurance office personally. Hence, it is the best form of comprehensive coverage and the most recommended one.

Click HERE to buy motor insurance online.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

The Covid-19 pandemic has led to a demand for health insurance policies. People are now aware of the importance of health insurance cover in case of sudden hospitalisations and expensive treatments. Moreover, many people also opt for it to avail of tax benefits.

Let us take you through a few lesser heard facts about health insurance plans in India. This will facilitate you to make a better and informed choice if you are also planning to buy a health insurance policy for yourself and your family.

1. NRI health insurance policy:
It is now possible for a non-resident Indian (NRI) to avail of health insurance cover in India. An NRI person will have to submit residence proof along with other necessary documents. Companies use Indian parameters to ascertain the cost of the treatment and premium amount. The treatment will have to be done in India to enjoy the policy benefits.

2. Pre-existing diseases:
Yes, you can get health insurance coverage even with pre-existing diseases. The insurance company will start coverage after 36 or 48 months of buying the policy, as per the terms and conditions. You will have to disclose the ailment at the time of buying the policy; otherwise, the insurance company can reject your claim at a later date.

3. Limits:
There are sub-limits set under your policy cover for certain types of expenditure. Generally, insurance companies put a cap on room rents based on the total sum insured. For example, suppose your total policy cover is 10 lakh rupees, and the room rent has a cap of 1% of the total cover. You are eligible to spend only Rs.10000/- a day on the room rent. You will have to pay it from your pocket if it exceeds that amount.

4. Recharge of the insured amount:
Exhausted your health insurance coverage amount? No need to worry. Some insurance companies allow us to recharge or upgrade our policy cover amount! For example, suppose we have insurance coverage of 5 lakhs INR, and it gets exhausted. We can opt for the refill and reinstate the cover if we need it over the remaining tenure.

5. Daycare coverage / Maternity coverage:
Many health insurance companies have started providing cover, even for daycare procedures. The patient need not be hospitalised for over 24 hours to benefit from the cover. This has made it convenient for people undergoing procedures such as chemotherapy, dialysis, radiotherapy, etc. Similarly, some policies now provide us coverage for maternity-related expenditures as well.

6. No age restriction:
Some insurance companies have started providing health insurance coverage without restricting the insured's age. People over 65 years of age can also get health insurance coverage now. Moreover, they can also buy a family floater plan and get coverage for their spouse and other family members as well.
The policy will remain functional and valid until the insured continues to pay the premium for the policy timely. They cannot deny the coverage with the growing age of the insured.

7. Reimbursement policy:
When purchasing, we generally check the network hospitals first in our health insurance policy in India. It is believed that the policy benefits will apply only in those hospitals. This is not the case.
Coverage is valid and works even when admitted to a non-network hospital. It does not matter if it is not on the list of eligible hospitals for cashless treatment under a policy. Patients will have to settle the bill themselves at the time of discharge. The insured will get reimbursed from the insurance company at a later date after the submission of all the required documents.

One should carefully go through the terms and conditions of a policy before opting for it. You should not just get lured by a low premium amount. It may exclude coverage for certain treatments and facilities, and you may suffer later at the time of need. The benefits and coverage provided under health insurance plans in India vary from one company to another. Hence, be prudent and choose your health insurance policy wisely.

Click HERE to know more about the best health insurance plans in India.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

When we talk about travel, everyone likes to get some discounts and save money on expenses. You can save on many things, like a flight, a place to stay, food, insurance, car rental, etc. Always remember that an insurance plan is essential as it helps cover many things, like your flight getting cancelled or your baggage being stolen. Buying general insurance India is a prudent practice when planning your trip

Here are some valuable suggestions which help you reduce travel expenses, irrespective of the destination. Travel smart with our nifty tips!

1. Compare flight tickets online:
Nowadays, comparing fares of different airlines has become convenient online. You can browse a third-party site on your browser, type in your location, destination, and return trip, and instantly get the list of available airlines. Book your ticket 4 to 5 months before your departure, as booking at the last minute can be costly.

2. Try to travel by train:
Train travel is slower than air, but it can save you a lot of money. Book your train tickets online to access different options and avoid paying any commission to the agents.

3. All you need to do about your luggage:
You should know that checked-in baggage fees can add up, especially when you travel by air. Try packing a single carry-on luggage, and you can avoid wasting time checking in and picking up luggage during transit or when you land at your destination. Also, you may buy online general insurance India before your journey to cover the loss or theft of bags and avoid the fear of losing your baggage.

4. Get the best hotel deals:
Most people go for big hotel brands, which ensure a luxurious stay, but there are several charges for amenities you might never consider using during your trip. Overbooking also makes these hotels expensive and crowded.
Opting for affordable hotels that provide excellent amenities and hospitality is a smart way to save money. When planning your trip, you can research and compare the budget and facilities of different hotels through different online hotel booking portals.

5. Book activities ahead of time:
Most people mistakenly buy tickets for museum entry, park admission, and other activities on the spot or when the prices rise due to too much demand. Book tickets for such activities before you visit them and avail yourself of discounts and rewards. You can also get a group discount if you are travelling in a group.

6. Use rewards programs:
Joining rewards programs offered by airlines and hotel chains can help you snatch some fantastic deals. If you plan to visit multiple cities during your trip, book your first hotel and use your accumulated points to book the next one at another destination.

*A smart tip to save more on your transportation
When visiting a new destination, search for the available public transport in that city and book them in advance if you plan to explore the location during the busy season. Don’t be afraid to ask the locals about transportation & the best places to be & eat. This helps save money and explore the city in & out from the view of a local!

Follow these tips to plan a perfect trip without putting much strain on your pocket. Get good general insurance India that covers several things. Look for special coverage in your insurance if needed. If you smartly know how to use online resources, then you’ll successfully execute budget-friendly trips almost every time.

Click HERE to buy general insurance India

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.