Group Health Insurance - For the higher education Industry

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Number of Employees

*Value should be between 2 and 500

20
  • 2
  • 100
  • 200
  • 300
  • 400
  • 500

Total estimated yearly premium

*only basic terms and conditions applied

100,000

₹ 5,000 per life

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Median Fixed Cover

Rs 3 Lac sum insured

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Maternity Cover

Yes

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OPD Cover

No

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Doctor Consultations

Yes

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Wellness programs

Weekly

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Type of policy

Employee only, Employee, Spouse, Children / Employee, Spouse, Children, Parents/in-laws

check mark icon Median Fixed Cover check mark icon Maternity Cover
Rs 3 Lac sum insured Yes
check mark icon OPD Cover check mark icon Doctor Consultations
No Yes
check mark icon Wellness programs check mark icon Type of policy
Weekly Employee only, Employee, Spouse, Children / Employee, Spouse, Children, Parents/in-laws
check mark icon Median Fixed Cover
Rs 3 Lac sum insured
check mark icon Maternity Cover
Yes
check mark icon OPD Cover
No
check mark icon Doctor Consultations
Yes
check mark icon Wellness programs
Weekly
check mark icon Type of policy
Employee only, Employee, Spouse, Children / Employee, Spouse, Children, Parents/in-laws

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Higher education industry - Overview

It is often said that the most crucial years of an individual’s life are the years spent in college. The higher education industry yearly gives thousands of skilled workforce to the different industries. It helps generate employment opportunities as well. 

Many universities are part of this industry providing educational opportunities to people belonging from different social and economic backgrounds. There are many schemes run by the government as well to provide financial assistance and scholarships to people. 

India has about 3.42 Lac higher education universities, giving employment to the present as well as future generations. The employee ranges are - 

  1. 0 - 100 employees - 1.07 Lac 
  2. 100 - 1000 employees - 1.45 Lac
  3. 1000+ employees - 6.21 Lac

Why buy group health insurance for the higher education industry?

Group health insurance has become an absolute necessity now. The pandemic took several lives, leaving people all over the world hopeless. But now that people have stabilized themselves and come out of the pandemic almost sane, no stones should be left unturned to protect the lives of those who survived. 

  1. 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 yourself. 

  1. Tax exemption 

One of the biggest benefits investing in a group health insurance gives is that the amount paid towards the premium is exempted from tax, according to the Income Tax Act of 1961. 

  1. Satisfied employees

Your employees will have a sense of satisfaction that they will get adequate financial assistance in medical emergencies. 

  1. 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. 

Things to know before buying group health insurance for the accounting industry 

There is a pool of insurance available in the market. You should make sure that you’re making the right choice while buying group health insurance for your employees. 

  1. Easy endorsements 

Confirm with your insurer about the endorsements beforehand to avoid any unnecessary problems during the addition or deletion of employees. 

  1. Claim settlement ratio

The first marker of a reliable insurer is the claim settlement ratio in the previous financial year. Higher the number, the higher the reliability of the insurer. 

  1. Network hospitals 

Having a wide range of network hospitals should always be preferred as it would become easier for your employees located all over India to get treated. 

  1. Exclusions in policy

Make time to go through the fine print of your chosen insurance policy. Read through the exclusions section thoroughly to avoid any problems in the future.

Industry/Higher Education group health insurance reviews

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Why buy a group health insurance
policy online from Pazcare?

  • Choose the suitable policy with our consulting approach
  • Custom-made plan with health and mental wellness add-ons
  • The tech-enabled Pazcare dashboard to manage endorsements
  • Integrate the dashboard with your HRMS tool
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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 higher education industry employees FAQs

Who can take group health insurance for their employees?

Any business owner can provide their employees with group health insurance. ‘Paz for startups’ provides group health insurance benefits to companies with as low as 2 employees.

Are dependents covered under group health insurance?

Yes, you can add your spouse, children, and parents/in-laws to your group health insurance policy.

What is not covered in group health insurance?

Often plastic surgeries, botox treatment, and suicide attempts are excluded from your group health insurance.