Imsurance & Medical Benefits

Dear All,

I am currently reviewing the benefits for my company employees for India region and would like to understand as to how can we give better medical benefits to out employee.
We have a group insurance for our employees in India, but i would like to understand if their is a scope for Insurance coverage policy to cover dental, group term life, personal accident, outpatient expenses or how can we look at giving employees the maximum benefits in term of dental, group term life, personal accident, outpatient charges.

Pls mail me at . Your kind help will be highly solicited.

Regards
Swapneel

Dear Swapneel
You can approach any one of insurance companies for full details of coverage of medical insurance benefits.
With regards

L.Kumar

hI
As suggested by Mr Kumar, you should approach any of the insurance companies

However I will share whatever little knowledge I have on this subject

1. Dental Some insurance companies have stated covering dental provided it involves hospitalization. May be in another two or three years time, more comprehensive policies would come in india as in west in the area of dental You need to wait till then.

2.Group Term Life I do not understand this But you have policies to Cover all employees under Employees Deposit Linked Insurance Benefits are liberal and it is a statutory requirement


3. Personal Accident Many schemes are available starting from rs 10000 to 10 lakhs It covers all accidents

4. Out patient expenses or called domiciliary benefits You can negotiate with the Insurance company and more premium you pay, more benefits you will get It depends on your finances

Siva

__________________
T.Sivasankaran

Dear Siva,

Many thanks for your prompt response could you please elaborate a bit more on Employees Deposit Linked Insurance Benefits and the statutory requirement of EDLI, applicabilty and scope of the same.

Pls send me mails at

Regards
Swapneel

Hi,

The employee benefits insurance market today conists of three product:
1. Group Hopsitlization Plan : covers hospitalization expenses and related pre & post hosp. OPD expenses, this plan can alos be extended to cover maternity expenses. There are exclusions like preexisting illness and 9 month waiting period for maternity. Depending on your employee size and growth you have the ability to customise these policies to a large extend. ( offered by general insurance companies )
2. We currently donot have any defined insurance plan to cover stand alone dental /vision/diagnostics/OPD expenses. Some companies do have a self funded, well defined plans that is administered by health services companies (unitedhelthcare).The tax implication on this benefits needs to be addressed .

3. Group Term Insurance : Basically available as annual policies and pure term basis.Cover ranges from annual to 5 times annual salary as sum assured.You have the option of tking riders for accident related disabilities and crtical illnesses.( life insurance companies)
4. Group Personal accident policies covers : disabilities( permanent, partial & temperory), dismemberment and accidental deaths.... ( offered by general insurance companies)

for further details , you may write to me at