What is the basic difference between individual and group health insurance coverage?
An individual policy is purchased by you directly from us. With a Group Health Insurance Policy, the group is the master insured and the insurance company contracts with the group. Insurance certificates, issued to a participating member, acts as your policy. In addition, group health insurance often contains special coverage’s that are not available or are very expensive on an individual basis. The purchasing power of the group makes this economically feasible.
An individual policy is purchased by you directly from us. With a Group Health Insurance Policy, the group is the master insured and the insurance company contracts with the group. Insurance certificates, issued to a participating member, acts as your policy. In addition, group health insurance often contains special coverage’s that are not available or are very expensive on an individual basis. The purchasing power of the group makes this economically feasible.
Individual Health insurance is what you buy as a family of 1 to 6 persons. Oriental Insurance is the one which gives Oriental Happy Family Floater Policy, where a family of upto 10 persons can be covered. Group Health Insurance policy is what is issued to a corporate or a group or to an association and covers a group (generally more than 100 persons).
