Group COVID Insurance for SME's Industries & Companies

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What is the Digit Illness Group Insurance?

Digit’s Illness Group Insurance is a COVID specific cover to help you cover for your employees from potential expenses of the coronavirus. This includes treatment and hospitalization expenses towards the treatment of the COVID-19. The same can be availed for small, medium or big organizations and businesses.

Features of Digit Illness Group Insurance

What is covered under Digit Illness Group Insurance?

What is not covered under Digit's Group Illness Insurance?

What are the benefits of Digit's Group Illness Insurance?

Affordable premium

Generally, group health insurance policies premiums are comparatively cheaper than standard health insurance premiums. Additionally, since the digital group illness policy is specific to the COVID-19 only, the premiums for the same are affordable.

Coverage for dependents

Digit’s group illness insurance is not only to cover your employees, but one can also include their dependents such as their spouse and up to two children, with each member receiving an individual coronavirus cover.

Minimum waiting period

Unlike health insurance policies, the waiting period for Digit’s group illness insurance is up to 15-days only. Additionally, there is also a waiver possible!

Digital Processes

Given that we’re a digital insurance company, all our processes – from buying to claims are digital and zero-touch.

One point of contact

No multiple points of contact or third parties are involved. Just one point of contact with Digit and that’s it!

Sufficient Sum Insured

Although this illness group insurance policy is dedicated to the COVID-19 only, you can pick a sum insured up to 5 lakhs, which is almost as much as even comprehensive corporate plans cover, but here it’s for a single illness!

Who should go for the Digit Group Illness Insurance?

1. Small Businesses

Small businesses usually don’t invest in a group health insurance plan. These include businesses with minimum 7 employees (excluding dependents) - such as local retail shops, showrooms, and salons among many others.

If you fall into this category and don’t have any medical insurance for your employees, you can at least get Digit’s Group Illness Insurance that will cover them during this widespread pandemic.

2. Small & Medium Enterprises and Early Stage Startups that can’t afford a comprehensive corporate health insurance plan

We understand that not all enterprises can afford a comprehensive medical plan for their employees. That’s why, a customized offering like the Digit Group Illness can be an affordable option to at least cover them against hospitalization & treatment expenses of the coronavirus.

Given the rise in cases in India and the ongoing economic crisis, this works has a valuable shield for your employees and consecutively your business.

3. Large Organizations without a group medical plan

Most large organizations and companies offer group medical plans as a benefit to their employees.

However, given the current economic slowdown, many companies haven’t renewed their group medical plans or simply don’t have one yet.

If you fall into any of these categories, you could at least get a customized COVID-19 cover like the Digit Group Illness Insurance that is beneficial for your employees and affordable enough to maintain your company’s balance sheets!

4. Companies with higher Group Medical Insurance claims

Typically, when corporate plans are to be renewed, the renewal premium increases if there have been more claims during the year.

Given how widespread the coronavirus is in India, you can choose to get a temporary, additional group covid cover, which can help with covid claims and reduce the renewal premium on your Group medical insurance plan which doesn’t only help save on some additional costs now, but also in the long-term.

Difference between Digit’s Group Illness Insurance and Digit’s Group Health Insurance?

Digit Illness Group Insurance	Digit Group Health Insurance
Digit’s Group Illness Insurance is a cover specific to a single illness and in this case, it is specific to covering hospitalization and treatment expenses of the coronavirus.	Digit’s Group Health Insurance is a comprehensive health insurance cover that covers treatment and hospitalization of many illnesses and diseases, including the covid-19 as well.
The premium for Digit Group Illness Insurance will be comparatively lesser since it comes with limited benefits and only focuses on the coronavirus.	The premium for Digit Group Health Insurance is slightly higher given that it covers for a range of healthcare benefits.

FAQs about Digit Illness Group Insurance

All

Who should buy the Digit Group Illness Insurance?

Given the current situation today- both from a healthcare and economic perspective, it is recommended that all companies- no matter how big or small and especially those without any existing corporate plans should at least cover their employees from the coronavirus.

I already have a corporate health insurance plan for my employees. Should I still get a covid-specific cover as well?

If your current corporate plan doesn’t cover coronavirus then yes, you should probably get a covid-specific cover to cover for your employees. But if your corporate plan covers the same you can still consider getting a covid-specific cover.

This is because, at the rate of pandemic is progressing, the likelihood of claims in existing corporate policies will be high. This will in-turn affect premiums for corporate health covers at the time of renewals next year, and probably for few more subsequent years.

By taking a separate covid cover, at a low premium, you will save on the high renewal premium for next few years.

What is the claim settlement ratio for Digit’s Group Illness Insurance?

Our overall claim settlement ration for corporate health insurance plans is currently at 93.37%.

I have a small business; can I still cover my workers with Digit’s Group Illness Insurance?

Yes, you can. Unlike other corporate health insurance plans, our Group Illness Insurance Policy is applicable to businesses with minimum 10 members.

What if one of my business members already has coronavirus, will expenses for the same be covered?

No, people who’ve already been infected with the coronavirus cannot be covered.

Analysing your group health details

What is the Digit Illness Group Insurance?

Features of Digit Illness Group Insurance

What is covered under Digit Illness Group Insurance?

Hospitalization expenses

Road ambulance charges

Second medical opinion

Pre & post hospitalization expenses

ICU expenses (no room rent restriction!)

Home hospitalization

What is not covered under Digit's Group Illness Insurance?