Pros and Cons of Availing Group Health Insurance

Everyone knows about group health insurance, but for those who aren’t aware of it, yet - a group health insurance is a custom policy designed to provide healthcare coverage to a particular group i.e employer-employee groups or non-employer-employee groups.
As a prerequisite condition to avoid issues later, it’s always better to know all the pros and cons of the product/service that you are buying. Same goes for buying a Group Health Insurance, hence, below are the pros and cons of Group Health Insurance.

Know More Info Visit- What is Group Employee Health Insurance?

The Pros of Group Health Insurance

Lower premium: As a number of people are covered through one insurance, group health insurance is generally cost-effective - 30% cheaper than regular insurance schemes, leading to lower premiums.
Maternity Benefits: Group health insurance policies come with maternity coverage, unlike other health insurance policies where you have to pay extra for the same.
Waiting Period: This type of insurance plan has no waiting period. You can sign the agreement and start availing the benefits immediately.
No Medical Check-up Required: Unlike other health insurance policy, you don’t have to submit a medical certificate or go through multiple health checkups.

Read Also: What You Need To Know About Group Health Insurance?

The Cons of Group Health Insurance

Policy Discontinues when you leave the job: As the policy is mostly provided by the employer, once you leave the job you the policy will discontinue and you’ll no longer be able to enjoy the health coverage you were entitled with as per the policy. However, you can surely opt for the same policy again if your new employer offers health insurance to its employees.

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