Group Health Insurance
Group Health Insurance is a comprehensive coverage that provides financial protection to employees and employer both in case of illness, injury, or death caused. Employees can always avail additional benefit by taking add on coverages or covering parents, in-laws etc.
How it benefits as Employee?
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Affordable Coverage
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Comprehensive Benefit Package
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No or Few Waiting Periods
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Coverage for Dependents
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Financial Security and Peace of Mind
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Access to Quality Healthcare Network
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Boosts Overall Wellness and Job Satisfaction
Group health insurance typically comes with lower premiums and reduced out-of-pocket costs for employees, making health care more accessible.
Employees often get extensive coverage, including hospitalization, maternity care, dental, optical, and other health services - all under a single policy.
Group plans usually waive waiting periods for pre-existing conditions, allowing employees to enjoy coverage from day one.
Group plans usually waive waitiEmployees can often add their spouses, children, or other dependents to their group health policy at a reasonable rate. ng periods for pre-existing conditions, allowing employees to enjoy coverage from day one.
With health expenses taken care of, employees can avoid financial stress related to health issues, focusing instead on their recovery or daily routines.
Most group health insurers collaborate with a large network of hospitals, doctors, and diagnostic centers, ensuring convenient and cashless treatment for employees.
Comprehensive health coverage contributes to a happier, healthier, and more productive workforce - strengthening loyalty and motivation.
How it benefits as Employer ?
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Attracts and Retains Talent
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Boosts Employee Morale & Productivity
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Cost-Effective Coverage
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Tax Advantages
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Reduces Employee Turnover Costs
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Promotes a Healthier Workforce
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Simplifies Administration
Offering group health insurance helps employers stay competitive in the job market. Quality health benefits are a key factor for candidates when choosing between job offers and for employees deciding to stay long-term.
When employees have access to affordable healthcare, they feel valued and secure. This leads to greater job satisfaction, lower absenteeism, and higher productivity.
Group policies generally cost less per employee compared to individual policies because of risk pooling. Employers may also get better rates and benefits through group plans.
Premiums paid by employers for group health insurance are typically tax-deductible as a business expense. In some countries, contributions are also exempt from certain payroll taxes.
By offering health benefits, businesses can reduce turnover and the associated costs of hiring and training new employees.
Group health plans often include wellness programs, preventive care, and regular health check-ups, which can reduce long-term healthcare costs and improve overall employee health.
Compared to managing multiple individual plans or reimbursements, a single group health insurance plan is easier to administer.
Group Personal Accident Insurance
Group Personal Accident Insurance (GPA Insurance) is a type of insurance policy that provides financial protection to a group of individuals-typically employees of a company or members of an organization-in the event of accidental death, disability, or injury.
Key Features
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Coverage for Accidents
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Group Coverage
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24/7 Worldwide Protection
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Customizable Sum Insured
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Low Premiums
- Accidental Death Benefit : 100% sum insured paid to nominee.
- Permanent Total Disability : Up to 100% of the sum insured.
- Permanent Partial Disability : Based on severity (e.g., loss of limb, vision).
- Temporary Total Disability : Weekly compensation for loss of income.
- Medical Expenses : Reimbursement for treatment costs related to the accident (optional).
- Funeral Expenses : Lump sum payout for final rites (optional add-on).
- Children’s Education Benefit : Financial assistance for dependent children in case of death / permanent disability.
- Enhances employee welfare and loyalty.
- Provides financial support in case of workplace or commuting accidents.
- Can be included as part of a comprehensive employee benefits package.
- Corporates
- SMEs
- NGOs
- Educational Institutions
- Government and Semi-Government bodies
Provides compensation in case of accidental death, permanent/temporary disability, or partial disability.
A single policy covers all members of a group, reducing administrative hassle and cost.
Covers accidents occurring anywhere in the world, at any time-on or off duty.
Can be tailored based on employee grade, salary, or uniform coverage across all employees.
Premiums are generally lower due to the group nature of the policy.
Typical Benefits
Benefits for Employers
Who Should Buy?
Group Term Insurance
Group Term Insurance is a type of life insurance policy that provides life cover to a group of people under a single master policy-typically used by employers to provide financial protection to their employees' families in the event of untimely death.
Key Features
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Single Master Policy
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Fixed Tenure
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Life Coverage
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Flexible Sum Insured
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Affordable Premiums
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No Medical Tests (Up to a Limit)
One policy covers all members of the group, simplifying administration and cost.
Usually valid for one year and renewable annually.
Provides a lump sum payout to the nominee in case of the insured member’s death during the policy period.
Can be uniform for all members or based on factors like designation, salary, or employment grade.
Premiums are comparatively lower than individual term plans due to group nature.
In most cases, medical tests are not required for employees up to a certain coverage limit.
Core Benefits
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Death Benefit
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Employee Well-being
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Voluntary Option
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Portability Option
Lump sum payment to nominee in case of death during the policy term.
Enhances the company’s image as a responsible employer.
Employees may be allowed to enhance their cover by paying extra premiums.
Some insurers allow conversion to an individual policy on exit or retirement.
Optional Riders (Add-ons)
- Accidental Death Benefit
- Critical Illness Cover
- Disability Benefit Rider
- Terminal Illness Benefit
Why Employers Should Offer Group Term Insurance
- Boosts employee morale and retention.
- Fulfills part of statutory or contractual obligations.
- Offers financial protection to employee's families.
- Cost-effective group benefit with high perceived value.
Who Can Opt for It?
- Corporates and SMEs
- Government departments
- Banks and financial institutions
- Associations, cooperative societies, etc.
Group Travel Insurance
Group Travel Insurance is a single policy that covers a group of people (typically 5 or more) traveling together for the same purpose — whether it’s a corporate trip, school excursion, sports event, religious pilgrimage, or leisure tour. It provides financial protection against unforeseen travel-related risks.
Key Features
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Medical Cover
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Trip Cancellation / Interruption
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Baggage Loss / Delay
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Passport Loss
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Personal Liability
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Accidental Death & Disability
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24/7 Assistance
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Customizable Plans
Emergency hospitalization, accidental injuries, medical evacuation, and repatriation
Reimbursement for canceled or cut-short trips due to emergencies
Compensation for lost, delayed, or damaged baggage
Expenses related to obtaining a new passport
Covers legal liability due to third-party bodily injury or property damage
Lump-sum benefit in case of accidental death or permanent disability
Emergency support like medical help, travel arrangements, etc.
Different coverage options based on age, duration, region, and travel purpose
Coverage Zones
- Domestic Group Travel Insurance
- International Group Travel Insurance
a. Asia-only plans
b. Worldwide including / excluding USA & Canada
Common Exclusions
- Pre-existing medical conditions (unless specifically covered)
- Adventure sports (can be add-on)
- War, terrorism (may require special inclusion)
- Travel against medical advice
- Illegal or reckless acts (e.g., drunken driving)
Claim Advisory Services
PIB Offers Claim Advisory Services with a large network of professionals working in segments. We assist our client in filing the required documentation for claims.
These services help ensure that claimants receive fair compensation, minimize delays, and avoid the pitfalls of technical or procedural errors during the claim process.
Key Services Offered
Claim Assessment & Documentation
Liaison with Insurance Company
Expert Advice on Policy Interpretation
Claim Dispute Resolution
Loss Assessment & Valuation
Post-Settlement Assistance
a. Reviewing the incident and policy details
b. Helping gathers necessary documents (e.g., FIR, medical reports, invoices)
c. Ensuring all claim forms are properly filled and submitted
a. Acting as a mediator between the insured and the insurer
b. Communicating and negotiating on behalf of the claimant
a. Expert Advice on Policy Interpretation
b. Identifying hidden clauses, sub-limits, or waiting periods
a. Supporting in case of delays, underpayments, or rejections
b. Assisting in filing grievances with ombudsman or regulator (IRDAI in India)
a. Independent evaluation of the loss or damage for fair claim estimation
b. Engaging certified surveyors if needed
a. Ensuring the full and timely release of the settlement amount
b. Advising on tax implications or reinvestment options (if applicable)
Why Use Claim Advisory Services?
- Faster Claim Settlement
- Higher Chance of Approval
- Accurate Claim Value Estimation
- Professional Support During Stressful Times
- No Missed Deadlines or Technical Errors
Risk Management Services
