Group health insurance plans extend coverage for specific critical illnesses above the hospitalisation cover. Offers cover for less than 24 hours of hospitalisation for specific treatment procedures like eye surgery, chemotherapy, tonsillectomy, etc.

The primary advantage of a group plan is that it spreads risk across a pool of insured individuals. This benefits the group members by keeping premiums low, and insurers can better manage risk when they have a clearer idea of who they are covering.

The group insurance policy protects against the risk of credit as well as life. The coverage of the insurance is directly proportional to the loan amount and the rate of interest. In case of the unfortunate death of a member, the death benefit will be paid to the nominee.