Get Lifestyle Health Plans 2021-2024

In April 2020, the Indian government made it mandatory for all employers to provide mediclaim policy for employees in India.

Yes, coverage for employees, also known as group health insurance policy, is compulsory in India post COVID-19. Before getting into the details, here's a quick explanation of the distinction between different Group Mediclaim Policies: When you get coverage for yourself, it is called Individual Health Insurance.

The Insurance Regulatory and Development Authority of India (IRDAI) has clearly made it mandatory for companies to buy group medical insurance policies for their employees. It is an obligation that companies in any sector have to strictly maintain. There is no exception in this case.

The average annual premium for employer-sponsored health insurance plans can range from INR 5,000 to INR 20,000 per person, depending on these factors. For example, a younger and healthier employee may be able to secure a more affordable health insurance plan with basic coverage.

1) Meaning and Scope. Employee health insurance policies are purchased by an employer for the benefit of the employees. It offers affordable healthcare benefits for the employees. Such policies are termed as group plans. Here, the premium charged is less as the risk is spread between a huge group.

In India, as per the Motor Vehicles Act, it is mandatory that all vehicles that operate in any public space must have a motor vehicle insurance cover. Policyholders must have at least 'third party liability' motor insurance cover even when opting for the basic insurance plans.