1. #1
    Unregistered

    What is group insurance scheme?

    I am working in a private limited. I want to know about the group insurance scheme. What are the benefits for the employees & employer who are going through the scheme?

  2. #2
    Ashok Array
    Join Date
    Jul 2012
    Posts
    2,293

    Re: What is group insurance scheme?

    Quote Originally Posted by Unregistered View Post
    I am working in a private limited. I want to know about the group insurance scheme. What are the benefits for the employees & employer who are going through the scheme?
    Dear Aspirant,

    The group insurance scheme is a type of insurance policy which is taken by the company/organisation/govt.in order to cover the employees for insurance according to the cadre & level.The premium amount is paid directly to the insurance company by the concerned company/organisation/govt. which in turn is collected from the employees per month from their salary.

    Here the premium & insurance amount is same for a particlar class of the employees.The premium amount & insurance amount is determined according to the salary of the employees.

    The benifits of this scheme are

    (1)It is the cheapest way of insurance to the employees.

    (2)It adds a welfare policy of the employer to the employees.

    (3)It is easy to settle the clim in case of death of the employees.

    (4) No need to go to the insurance company neither to pay premium nor to get claim.

    Hope you are satisfied with the reply.

    Thanks.

    Ashok


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