By IANS
Chennai : The Kolkata based National Insurance Co. has tightened its norms for group health insurance policies despite several new entrants in the market and even life-insurers getting into this growing segment.
The non-life insurance company has decided to offer its tailor-made group health insurance policies only to companies that cover more than 100 employees under a single policy, officials told IANS.
For companies with fewer employees, National Insurance will offer only its normal mediclaim insurance policy where the premium is higher and risk cover inflexible.
Tailor made policies offer clients the flexibility of choosing the premiums on floater-basis to cover family members – for a fixed insurance value the family members can also be covered at a nominal extra charge.
It also has other features like covering pre-existing ailments and others.
“The company is now implementing its existing guidelines strictly. Earlier the operating offices – branch and divisional offices – used to issue tailor-made policies rather indiscriminately,” said one official.