Indian Insurance

Group insurance offers life insurance defense under group policies to a variety of groups such as employers-employees, professionals, co-operatives, weaker sections of society, etc. It also gives insurance coverage for people in certain standard occupations at the lowest likely premium cost.

Group insurance plans have low premiums. Such plans are chiefly beneficial to those for whom other normal policies are a costlier proposition. Group insurance plans extend cover to large segments of the inhabitants including those who cannot afford individual insurance.

A number of group insurance schemes have been intended for various groups. These include employer-employee groups, relations of professionals (such as doctors, lawyers, chartered accountants etc.), and members of cooperative banks, welfare funds, credit societies and weaker sections of society.