Difference between OPD and IPD [Treatment + Insurance]
Learn the meaning of OPD and IPD, its differences and claim process.
By Pazcare
October 31, 2023
Group Health Insurance For Pharmaceutical Industry Employees
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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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For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.
Group health insurance for pharmaceutical industry employees FAQs
How many types of policies are available in group health insurance?
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There are 3 types of policies -
- Employee only
- Employee, spouse, children
- Employee, spouse, children, parents/in-laws
What is the super top-up feature?
Through the Super top-up feature, you can increase the sum insured by up to 20 Lacs on your base policy.
. Can a newborn be included in the group health insurance policy?
Yes, maternity and newborn benefits are there in group health insurance plans.
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