Group Critical Illness Cover
Group Critical Illness Cover provides employees with lump sum benefits upon diagnosis of specified critical illnesses, offering financial support and peace of mind.
- Financial Security
- Enhanced Employee Benefits
- Tax Benefits
What is Group Critical Illness Cover?
Group Critical Illness Cover is a specialized insurance policy providing a lump sum benefit to employees upon the diagnosis of specified critical illnesses. This cover offers financial support during serious health conditions, helping employees manage high costs associated with critical illnesses and ensuring peace of mind.
What is covered under Group Critical Illness Cover?
Specified Critical Illnesses
Includes major illnesses like cancer, heart attack, stroke, kidney failure, major organ transplant, and multiple sclerosis.
Lump Sum Benefit
One-time payment upon diagnosis of a covered critical illness, regardless of actual medical expenses incurred.
Extended Coverage
Additional critical illnesses and conditions may be covered, depending on the insurer.
Waiting Period
A specified waiting period (e.g., 30 to 90 days) must be completed before coverage becomes effective.
Survival Period
The insured must survive for a certain period (e.g., 30 days) after diagnosis to claim the benefit.
Medical Documentation
Diagnosis must be confirmed by a certified medical practitioner, with relevant medical reports and documentation provided.
What is covered under Group Critical Illness Cover?
Specified Critical Illnesses
Includes major illnesses like cancer, heart attack, stroke, kidney failure, major organ transplant, and multiple sclerosis.
Lump Sum Benefit
One-time payment upon diagnosis of a covered critical illness, regardless of actual medical expenses incurred.
Extended Coverage
Additional critical illnesses and conditions may be covered, depending on the insurer.
Waiting Period
A specified waiting period (e.g., 30 to 90 days) must be completed before coverage becomes effective.
Survival Period
The insured must survive for a certain period (e.g., 30 days) after diagnosis to claim the benefit.
Medical Documentation
Diagnosis must be confirmed by a certified medical practitioner, with relevant medical reports and documentation provided.
What are the exclusions under Group Critical Illness Cover?
Pre-existing Conditions
Illnesses or conditions that existed before the start of the policy may be excluded.
Non-Listed Illnesses
Diseases or conditions not specified in the policy are not covered.
Self-inflicted Injuries
Illnesses resulting from self-harm or suicide attempts are excluded.
Substance Abuse
Illnesses arising from alcohol or drug abuse are not covered.
Participation in Hazardous Activities
Illnesses caused by engaging in hazardous activities or sports may be excluded.
Why companies should take Group Critical Illness Cover for their employees?
Financial Security
Provides significant financial support during serious health crises, helping manage high treatment costs and related expenses.
Enhanced Employee Benefits
Improves the overall benefits package, making the company more attractive to current and prospective employees.
Employee Well-being
Demonstrates the company’s commitment to employee health, boosting morale and job satisfaction.
Tax Benefits
Premiums paid for Group Critical Illness policies are usually tax-deductible as a business expense.
Assess Employee Needs
Understand the specific health risks and needs of your workforce.
Choose Comprehensive Coverage
Select a policy covering a wide range of critical illnesses.
Communicate Clearly
Ensure employees understand the coverage details, including the list of covered illnesses and the claim process.
Regularly Review and Update
Periodically review and update the policy to ensure it continues to meet the needs of employees.
Why companies should take Group Critical Illness Cover for their employees?
Financial Security
Provides significant financial support during serious health crises, helping manage high treatment costs and related expenses.
Enhanced Employee Benefits
Improves the overall benefits package, making the company more attractive to current and prospective employees.
Employee Well-being
Demonstrates the company’s commitment to employee health, boosting morale and job satisfaction.
Tax Benefits
Premiums paid for Group Critical Illness policies are usually tax-deductible as a business expense.
Assess Employee Needs
Understand the specific health risks and needs of your workforce.
Choose Comprehensive Coverage
Select a policy covering a wide range of critical illnesses.
Communicate Clearly
Ensure employees understand the coverage details, including the list of covered illnesses and the claim process.
Regularly Review and Update
Periodically review and update the policy to ensure it continues to meet the needs of employees.
FAQs over Group Critical Illness Cover
Financial Protection Against Life-Threatening Illnesses
Support your employees with financial security in tough times. Go Insure India’s Group Critical Illness Cover provides a lump sum payout upon diagnosis of severe illnesses, helping them focus on recovery without financial stress. Safeguard their well-being while strengthening loyalty and trust.