How to choose the right employees group insurance scheme for your business

As a business owner or HR manager, choosing the right employees group insurance scheme is an integral step for any business. Whether it is the premium charged, the scope and extent of coverage, add-ons, deductibles, waiting periods, exclusions, sum insured, or specific requirements of employees, there are a lot of factors to consider when choosing an insurance policy. This confusion can lead to either inadequate coverage or getting a worse plan for your organisation.

So, whether you are a decision maker or someone researching insurance providers and policies for your organisations, consider reading this article thoroughly. 

How to choose the right employees group insurance scheme for your business

Why should companies opt for employees group insurance?

In 2020, following the Indian Government’s mandate requiring professional organisations to provide health insurance to their employees, companies have been looking for specialised corporate medical insurance policies that offer coverage to all employees in a single plan. Companies looking to provide health insurance to all of their employees in a convenient, cost-effective, and customisable manner can opt for an employees group insurance scheme.

So whether it is the customisability of the policy allowing employers to provide higher scope and extent of coverage at a lower price when compared to purchasing individual plans for each member.

How to choose the right employees group insurance scheme for your business?

  • Speak with your employees to understand their needs and expectations

The first step to choosing the right employees group insurance is to first speak with your employees and understand their specific needs to determine non-negotiables and good to-haves. 

  • Assess your business and determine a budget for the policy

Assess the profitability of your business and determine how much you would like to reinvest into securing your employees from the financial impact of medical risks. 

  • Consider the various retail plans and customise them based on your group’s needs

As group plans are highly customisable, employers can compare the retail plans and determine what additional coverages they might want for their organisation.

  • Assess the projected premium charged for the plan

Check the projected premium charged for the customised plan and compare it with the assigned budget.

  • Assess the network hospitals of the insurer

Check the hospitals and healthcare centres in the insurer’s network to see if preferred healthcare providers and hospitals are on this list.

  • Consider the reliability of the insurer

Check the claim settlement ratio, customer reviews, and online testimonials to assess the insurer's reliability. 

  • Check special clauses like waiting periods, deductibles, co-pays, etc

It is also essential to check special clauses like waiting periods, co-pays, etc., to understand a policy's specifics.

  • Assess the turnaround time for cashless claims

Assess the turnaround time for cashless claims at network hospitals to understand the overall reliability and availability at times of need.

  • Claims handled by TPA or in-house

It is also essential to consider whether an insurer handles claims in-house or through a third-party administrator. This is because there might be pros and cons for both methods.

Based on these factors, companies can choose the right corporate health insurance plan for their needs. It is typically recommended that HR managers and business owners consider the insurer's reliability and make purchasing decisions accordingly.

What are the benefits of employees group insurance from Niva Bupa?

Companies still unsure which insurer or policy to consider can consider group insurance plans from Niva Bupa. Niva Bupa is one of India's leading health insurance providers, with unique and relevant plans for the varying needs of Indians. Whether it is the retail plans or plans built from the ground up based on the employees' needs, there are several benefits of opting for a group health plan from Niva Bupa.

Here are a few key benefits employers should consider when opting for a group health plan from Niva Bupa:

  • Comprehensive health coverage

A group insurance plan has comprehensive health coverage for dozens of medical risks.

  • Financial security for the employee

Being covered from medical risks means that if an employee is ever hospitalised or treated for a medical ailment, they can claim settlement, with the insurer paying the medical expenses per the policy terms and conditions. 

  • Employer-sponsored plans

Group health plans are typically partially or wholly sponsored by the employer, allowing employees to benefit from a comprehensive plan without paying out of pocket.

  • Pre-existing disease coverage

Group plans also allow for pre-existing disease coverage, enabling all employees to avail of medical benefits without worrying about pre-existing conditions.

  • Maternity and new-born expenses

Group plans also come with coverage for maternity and newborn child expenses.

  • Coverage for dependents

Group plans come with coverage for the spouse and minor children of the employee. 

  • No pre-policy checkup

Group insurance plans also do not require a pre-policy checkup, allowing everyone to take out a policy without worrying about getting a medical checkup before the policy.


As an employer, choosing a suitable employees group insurance scheme can make the difference between an inadequate or expensive policy and a specialised one that considers all employees' needs. By following the above-given steps and keeping in mind those factors, whatever the needs of the group and the employees are, it is possible to procure the right insurance policy for everyone's needs. 

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