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We are a 93 employee company. i need to understand individual mediclaim policy to each employee is better or we should go for group policy. Rajesh
The good health of the employee is in the best interest of the Employer. Therefore many corporate take this policy, as in a uncertain world like today it holds a lot of importance both for Employer & employee.

For employer it works as way to take care of a very big personal need of an employee & the employee feels more connected to the organization and also sometimes it works as a good retention tool.

For Employee it is something which gives them a monetary safeguard against the big amounts that needs to be spend in the event of illness of his/her near & dear ones.

Some general questions on Group Mediclaim :-

What is Group Mediclaim Insurance.

Group mediclaim is a policy which an organization / employer / Association / corporate takes for its employees.

How it is different from Individual Mediclaim?

Individual Mediclaim Policy is taken by an individual for himself and his family, where as Group Mediclaim policy is for group of people and their families. There are certain benefits / coverage which are available in Group Mediclaim Policy and not in Individual Mediclaim . listing herewith some of them . These could be –

Pre-Existing Disease coverage

Room Rent capping removal

Maternity Benefit inclusion

Baby day 1 Coverage

30 days waiting period waiver

Corporate Buffer.

Who do you define as your dependants?

Immediate and first family which includes, employee, spouse, 2 kids and employee's parents.

Are parents also usually covered under this policy?

Employees' parents are covered. Again, it depends on the employer.

Is the coverage given to employees based on the grade at which one is?

Can be made flexible. Managers and above . But it is not necessary. Policy can be tailor made.

Do Insurance companies have a floater policy?

Yes, Insurance companies do have floater policy. It would be beneficial if you have a headcount of more than 100 or so, because insurance companies normally don't extend floaters for a lesser headcount.

Does it make sense to have a floater policy?

It does make sense from the employee's point of view if dependent family is covered.

What if in a floater policy the group coverage amount is utilized by other dependants & when it comes to the employee's illness there is nothing left... in such case what do you do?

That is a risk which the employee needs to take. Because the deciding power is left with the employee. The employer cannot pool in for the employee's illness.

However, there is another clause which can be introduced in the policy called Corporate Buffer, where the employer takes an additional coverage e.g Rs. 10 lakhs or so and extends the coverage to employees on a case to case basis. This would work best with a fixed coverage, where the employers over head is also not very high( low premiums for fixed policy) and the employee also can request for an extended coverage (@ the discretion of the management).

Is there a min. for which an employee needs to be insured for?

The minimum amount covered for is Rs. 50000/- pa.

Breif about my self :-

My name is Deepak Gupta and I am an insurance professional from Delhi. If you have any requirement or any kind of problem and or any query related to insurance,

you may send me the detail.

You may ask regarding any sort of Insurance . I Can help you in

• Inviting quotes from insurance companies on your behalf and I am sure I will be able get you the best coverages in the lowest premium.

• I Conduct interactive session to ensure that you are well informed as to the process followed in case, a claim arises.


Thanks a lot I will share your reply with my senior HR manager Ms.Rajeshree. and will get back to you. Thanks a lot again for your prompt reply and guidance. Rajesh
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