Page 113 - MEDICAL AND HEALTH INSURANCE

MEDICAL AND HEALTH INSURANCE

b. Another voluntary group

Any agents or the distributors of big corporate clients who may come together for a

common scheme to purchase a PMI policy at an agreed premium consideration.

c. Company employee plan

Usually, the company will arrange a plan for the employees and the premium is paid

by the employees on a voluntary participation basis.

7.1.3 EXPLAIN CORPORATE / COMPANY GROUP MARKETS

A group company scheme is a scheme for the employees and may range from a few

employees to a large group of employees. The company may be a sole proprietorship,

partnership, private limited, public listed or public limited. Must remember that the
coverage is taken up by the company as part of its obligations and the benefits are

paid directly to the employees. It can be categorized as:

a. Company - part employees paid

The company only pays for part of the premium and tin employees pay a part as well.

Generally, the company would pay for the bigger part of the share for the basic cover
and the employees may pay a small portion for some extension of benefits.

b. Company - employee pay for dependents only
The company pays for the employee coverage only, whereas the employees will have

to pay for their own spouses/children to be covered.

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