Group Health Insurance For Pharmaceutical Industry Employees

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Number of Employees

*Value should be between 2 and 500

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Total estimated yearly premium

*only basic terms and conditions applied

₹ 100,000

₹ 5,000 per life

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	Median Fixed Cover			Maternity Cover
	Rs 3 Lac sum insured			Yes
	OPD Cover			Doctor Consultations
	No			Yes

	Wellness programs			Type of policy
	Weekly			Employee only, Employee, Spouse, Children / Employee, Spouse, Children, Parents/in-laws


	Median Fixed Cover
	Rs 3 Lac sum insured
	Maternity Cover
	Yes

	OPD Cover
	No

	Doctor Consultations
	Yes

	Wellness programs
	Weekly

	Type of policy
	Employee only, Employee, Spouse, Children / Employee, Spouse, Children, Parents/in-laws

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Industry Wise Group Health Insurance Policy For Employees

Pharmaceutical industry - overview

The pharmaceutical industry develops, researches, discovers and produces medicines or drugs to be used as medication, with the aim of providing or treating the symptoms of a patient. The industry is governed by a lot of laws and regulations as it includes a lot of drugs and chemicals. India has about 7.4K such companies that are dealing with the pharma industry.

The companies are mainly focused on biotechnology, chemicals, and biological products and compounds, to vaccinate or treat patients. They are also responsible for the distribution, retail and wholesale supplies of these medications.

Based on employee strength, the number of employees in companies having -

0-100 employees - 32.1K
100-1000 employees - 57.3K
1000+ employees - 142.8K

Why buy group health insurance for the pharmaceutical industry?

Here are a few reasons to buy employee group health insurance for the pharmaceutical industry.

Economical and affordable

Buying a group health insurance policy is more affordable as the premium paid is reduced because the number of insurance takers increases.

Customized plans

You can easily get tailor-made insurance policies just for your team according to their requirements.

Increased productivity and efficiency

Your employees will have a financial safety net and their stress will be reduced. They will feel more at peace knowing that any medical emergency can be tackled easily.

No medical test required

Unlike common retail plans, group health insurance policies do not require prior medical testing. The policy can start from day 1 without any waiting period.

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

Easy endorsement

It is important to choose a policy on which you can easily add/delete employees. Some companies have external TPA which makes it a bit cumbersome to check policy details and addition or deletion of employees

List of network hospitals

Your employees can live in any part of the country and need medical assistance. During these times a large network hospital chain is required to make sure adequate medical attention is being given to the patient.

Claim settlement ratio

Always check the claim settlement ratio before choosing an insurer as it provides a much clearer picture of the insurance company.

Add-on benefits

Ensure that sufficient add-on benefits are there if you need to include them in your group health insurance policy. Some common covers include dental surgery, eye operation, etc.

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