As MSME - should you buy group Health Insurance Policy

As MSME - should you buy group Health Insurance Policy?

Let us assume that number of employees working in the company are 12.

Should MSME buy Group health Policy for its employees?

The answer is:

• Yes, it should buy Group health policy as it has following advantages:
• 30 days Cooling off period Waived off
• Two Years waiting period Waived off
• Pre-existing disease waiting period waived off
• Maternity covered from the day one

There is a good possibility that company may get some discount as the group size increases.

MSME employees can buy individual health Insurance policy.

Assuming sum assured is Rs 1 lakh the premium can be Rs 1450 per individual. The policy to be issued will be a normal policy with conditions:

• Cooling Off period -30 days
• 2 Years waiting period apply
• Maternity will not be covered
• Pre-existing to be covered as per list of the insurance company (Standard 4 Years)

To take care of your employees MSME should go in for Group Policy. Any questions reach us at sksethi@riainsurance.com