Group Health Insurance - For the mechanical & industrial engineering 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

Talk to our experts to get exact premium estimates

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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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Mechanical & industrial engineering industry - Overview

The mechanical and industrial engineering industry go hand in hand. Mechanical engineering focuses on the development, design, integration, repairs, and maintenance of machines. Whereas, industrial engineering centers around the improvement of business processes. 

The mechanical engineering industry solely focuses on creating big tools and types of equipment which revolves around power-producing machines. The industrial engineers in turn brainstorm on the most effective and productive way of managing people and business ideas. 

Both of these industries require specialized skills to be eligible for working in these sectors. About 3.3K companies make use of the expertise and skills that the industrial and mechanical engineers bring with them. 24.3K people having specialized skills are a part of companies having 0 - 100 employees. And 11.8K people are involved with companies having 100 - 1000 employees. More than 32K people are employed in companies having more than 1000 employees, which shows just how many specialized and skilled taskforce are present in India.

Why buy group health insurance for the mechanical & industrial engineering industry employees?

With the employees working religiously for their industry, burnout or stress is inevitable. It might lead to health problems. It is important for an employer to provide health benefits to his or her employees. 

  1. Tax exemption 

According to the Income Tax Act of 1961, the premium paid by the employers for group health insurance is exempted from tax.  

  1. Tailor-made policy 

Your group health insurance can easily be customized according to your employees’ requirements. You can choose to add or delete benefits as well.  

  1. Retain employees 

In the competitive job market, providing a salary is not enough. Employees look for incentives in addition to their salary package and offering health benefits will leave an employer with a hardworking staff.   

  1. Job satisfaction 

Employees’ efficiency and productivity increase when they have a sense of belonging to their organization. Your employees’ job satisfaction will improve knowing that they are protected under any medical urgency. 

Things to know before buying group health insurance for the mechanical & industrial engineering industry

With technology taking over, a pool of insurance has been opened. You can easily compare different policies offered by the insurance companies and chose what is best for your employees. 

  1. Claims experience 

The claims experience should be seamless as your employees will have enough stress with the hospitalization or injury or illness.

  1. Claim settlement ratio 

The CSR should be on the higher end as it ensures the credibility of the insurer. 

  1. Ease of endorsements 

You can choose to opt for an insurer that does not have an external TPA, to make the endorsement process simpler and more efficient. 

  1. Add-on benefits 

Make sure to have add-on benefits to cover more procedures at a minimum cost.

Industry/ Mechanical & Industrial Engineering 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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Group health insurance for mechanical & industrial engineering industry employees FAQs

Are pre-existing diseases covered in group health insurance?

Pre-existing diseases may or may not be covered according to your insurance policy. They generally have a waiting period of a few months before you can make a claim.

What are some lesser-known add-on benefits of group health insurance?

Restoration benefits and convalescence benefits are some lesser-known additional benefits.

Can my newborn child be covered in a group health insurance policy?

After a baby becomes 90 days old, he or she is eligible to be included in a group health insurance policy.