Group Health Insurance - For the human resources 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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Human resources industry - Overview

The human resource industry is of utmost importance to every company. It deals with finding, recruiting, and managing the right talent for the right job position. HRs not only hire and recruit but they are also responsible for training and retaining the same. 

HRs play an important role in maintaining the quality of the workforce to suit the ever-changing work environment. The value that any HR professional brings to the table is commendable because they have to be up to date regarding every new law and regulation, which might affect the daily operations of the company or business. They help in increasing the productivity and efficiency of their employees by keeping them engaged and motivated throughout. 

India is the home to about 1.39 Lac companies that are centered around the human resource industry. 4.83 Lac people are working in 0 -100 employee companies while 2.10 Lac people are involved with 100 - 1000 employee companies. Moreover, 1.15 Lac individuals are working for big companies with over 1000+ employees. 

Why buy group health insurance for the human resource industry?

It goes without saying that HRs take care of their employees in many ways than one. Buying a group health insurance policy could add to that list too.

  1. Enhanced productivity

Knowing that the employees have a safety net to fall back on in urgent cases can be a major stress relief. It will not hamper your employees’ productivity in adverse situations. 

  1. Customized plans

You can get your health insurance plans customized by your insurer. Apart from the basics, your group health insurance policy can include smaller operations as well, if required. 

  1. Job satisfaction 

Your employees will feel more at ease knowing that they are taken care of by their employers. 

  1. Employee retention 

One of the key features, why incentives and benefits are present, is to retain employees. Investing in health insurance will do just that. 

Things to know before buying group health insurance for the human resources industry

With everything being digitalized, you might get confused amongst the pool of insurances that are at your fingertips. But there are some parameters that you should keep in mind while purchasing a group health insurance plan. 

  1. Claim settlement ratio 

You should check the CSR of the insurance company to get to know more about the insurer. A higher CSR means that the insurer is more credible. 

  1. Endorsement process 

While you recruit new employees every now and then, the endorsement should be done smoothly to avoid any friction in the process. 

  1. Network hospital list 

Since the pandemic, work from home has become a common ground for companies. Because the employees are located in different cities, make sure that the insurer has a long list of cashless network hospitals to reach every employee, in times of need. 

  1. Add-on benefits 

Make sure to check out the number of benefits your group health insurance is providing like dental cover, eye surgery, maternity benefit, etc. 

Industry/ Human Resource 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 human resources employees FAQs

Is it mandatory to buy group health insurance for employees?

Yes, IRDAI has mandated that employers should provide group health insurance policies to every employee.

What is the eligibility to buy group health insurance?

An employee who is 18 or above is eligible to get a group health insurance policy from their employer.

Can the sum insured be increased?

With an extra premium, you can increase your sum insured. Pazcare offers a super top-up feature through which the sum insured can be increased by up to 20 Lacs.