Employees May Face Deductions In Salary As Group Term Life Insurance To Become Expensive By 10-15%

If you have taken health insurance coverage for yourself and your family through your employer’s group insurance policy as well as your premiums are also deducted from your own salary, then the deduction could be increased, Zee Business’ Anurag Shah reports.

Most companies have made preparations to improve the premium of group insurance by 10 per cent to 15 per cent. The pressure on group mediclaims is increasing as a result of continuous upsurge in the burden of COVID related claims and medical inflation, and losing ratio of businesses has increased significantly recently, Shah said. Government general insurance firms endure to 70 per cent stake in group mediclaims.



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