20 smart questions HRs must ask their brokers before buying group health insurance
Hidden Costs? Ask These 20 Questions Before Buying Group Health Insurance
By Pazcare
May 5, 2025
Group Health Insurance For The Consumer Services Industry Employees
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Industry Wise Group Health Insurance Policy For Employees
Consumer services industry - overview
The consumer services industry provides myriad services to its customers. The business deals with education services, training services, daycare services, etc. The majority of these services are becoming online as it is less time-consuming and more efficient.
People have shifted their focus from offline to online because of the highly competitive nature of the business. Online consumer services include banking, shopping, and bill payments among others. A number of companies are involved in making consumers’ lives easier by providing services with just a click on the phone. Around 1.89 Lac companies provide consumer services in India. 7.78 Lac people are white-collar workers, managing the logistics and backend work for companies with 0-100 employees. Similarly, 2.97 Lac and 1.47 Lac people are employed to take care of companies with 100-1000 and 1000+ employees.
Why buy group health insurance for the consumer services industry?
- Tailor-made benefits
Your group health insurance policy will only cover the benefits of your choice and requirements. You can easily make adjustments to suit your employees.
- Tax exemption
One of the biggest benefits of investing in group health insurance is that the amount paid towards the premium can be used to claim tax benefits under Section 80D of the Income Tax Act. Hence, group health insurance tax benefits can be used by the employer/employee.
- Satisfied employees
Offering health benefits will create a sense of satisfaction that they will get adequate financial assistance in medical emergencies.
- Family coverage
Your employees can insure their family by including spouse, children, and parents or in-laws in the group health insurance policy provided by their employer. However, the group health insurance policy coverage is subjected to the type of group plan opted by the employer.
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Things to know before buying group health insurance for the consumer services industry
- Easy endorsements
Confirm with your insurer about the endorsement policy beforehand to avoid any delays in the future.
- Claim settlement ratio
The first marker of a reliable insurer is the claim settlement ratio of the previous policy year.
- Network hospitals
Having a wide range of network hospitals should always be preferred as it would become easier for your employees to locate a network hospital near them.
- Exclusions in policy
Make sure to go through the fine print of the insurance policy to understand the exclusions in the group health insurance policy of yours.
Hence, these are some of the important things to know before buying the employee group health insurance
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For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.
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Group health insurance for consumer services industry employees FAQs
Does the group health insurance provide coverage for ICU rooms in case of hospitalization?
Yes, ICU and room rent charges are included in the in-patient hospitalization clause of group health insurance. The expenses incurred are capped and included in the insurance policy.
How many times can group health insurance be claimed in a year?
You can claim group health insurance till your sum insured gets exhausted in a financial year.
Are group health insurance cashless?
You can get cashless treatment from your group health insurance if you choose to get treated in a network hospital.
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