Lawyers and legal professionals in India have immense importance for their extensive service. In such a populated country, the need for getting legal services for various matters is a common thing. For this, so many legal firms have grown in the country. Whether freelance lawyers or lawyers working in a legal services company, the number of people attached to the profession is increasing rapidly.
Like every other profession, lawyers also need steady financial support to meet their needs during medical emergencies. The noble profession does not provide similar income for all the lawyers in the trade. This is why many choose a job in the legal service companies instead of practicing freelance service. Both the groups can apply for the group healthcare policies. When you work under an employer, then the group Mediclaim is bought and provided by the employer. In contrast, when you work freelance, you can create an informal group to buy the policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More.
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The legal profession in the country
India has more than 600,000 practicing lawyers, ranking second in the whole world! So, you can imagine the scope of employment and service produced by the legal sector in India. As discussed earlier, the income is not always proportional and gets decided upon the expertise of the professional. Legal firms employ young and experienced lawyers for meeting the legal requirements and handling the cases. The number of law firms in the country is also increasing at a rapid pace, with some companies having large financial resources and some struggling to find the base. As a result, group healthcare policies also have different plan coverage offerings for the lawyers.
- Covid and lockdown impact: Due to countrywide lockdown, the courts in India were closed for a long period. With online court sessions, most freelance lawyers faced financial troubles during 2020. Having a group healthcare policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More in such times helps in providing financial support during medical treatments. It is a prime reason why most legal firms in India should offer healthcare insurance to the lawyers in their companies to ease their needs.
The need for the insurance
Besides the lockdown impact on the professional sector and income of the lawyers, there are also other reasons why they need a group healthcare policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More. The insurance acts as a service benefit to the lawyers working in the legal firm. For freelance lawyers, there is a provision to buy the group policies if they are part of an informal group. Especially, the legal firm employers should focus on providing the insurance coverage to the lawyers serving in the company to ensure the following –
- Better employee(lawyer) retention in the company
- A compact package to the young lawyers
- Excellent for reputation management
Best features that make the plan beneficial
Not every group healthcare policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More is as useful as you think of it. Why? Because the plan coverage attributes are different with the different insurance companies. Selecting the right group Mediclaim that suits the needs of the associated service can be a tricky choice. Although the overall offerings of healthcare insurances are similar, certain crucial aspects make it apt for the requirements. So, it is better to discuss with the lawyers working in your firm to understand what they require in the Mediclaim policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More. Following are some of the notable features that must be present in the group healthcare coverage for lawyers –
Plan coverage for lawyers and their family members
Cashless treatment coverage is a must alongside reimbursement facilities. The policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More you pick should offer extensive plan coverage for the policyholderA policyholder is an individual or entity that owns an insurance policy and pays the premium in exchange for coverage. More within an affordable premium range. Pre-and post-hospitalization expenses, maternity coverage, diagnostic charges, daycare expenses, and much more need to be under the policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More terms to ensure optimal plan support during medical emergencies. Employers providing comprehensive policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More support for the dependent family members of the employee should see to it that the insurance offers premium coverage plans within a reasonable budget.
No-claim benefits and discounts
As discussed earlier, the legal firms in India cannot specify an age range for those working in the firm. There can be young lawyers in their 20s and older professionals beyond the age of fifty. So, guessing the rate of policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More claims can be tricky. For employers, it is better to find a policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More that offers no-claim discounts at premium prices. This way, even if fifty percent of the employees of older age claim for policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More coverage, you can still lower the overall renewal expense with the no-claim bonuses.
Special coverage features and add-onsAdd-ons, also known as riders or optional covers, are additional benefits that can be purchased along with a standard insurance More
As employers, you should always provide your employees a chance to customize the policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More. It helps them meet their medical needs without hesitation and financial distress. Easy add-onsAdd-ons, also known as riders or optional covers, are additional benefits that can be purchased along with a standard insurance More and sum extension will eliminate the need of maintaining an individual Mediclaim policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More for their treatments. For customizable policies, you can ask the lawyers working in your firm to contribute to the extra expenses while you manage the basic premium cost for policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More renewal.
PlanCover, the most trusted insurance broker, can help you find the customised group health insurance policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More for lawyers. They offer multiple insurances from the leading IRDA-approved insurance companies in India. All you require is to specify the requirements and budget. Their team will manage the rest and bring the best deal. Reach out to them now.
An affordable premium for long term benefit
Lawyers do not usually switch their jobs like IT professionals. Unless they get a better package, they tend to stick to their job to ensure a good career reputation. A long career in a reputed firm adds to their own benefit. So, as an employer, you should be ready to pay the premium charges for the long term. While it is beneficial for the employer as they can create a good team of employees, it can be financially stressful(in some cases) to continue the policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More for a long. Hence, always find a balance in the affordability factor and policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More features to ease the requirements.
For those buying the policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More
Purchasing industry-specific group healthcare can be a tough choice if you do not know how to proceed. Connecting to an insurance broker is the best option. They offer more than one insurance plan to meet your specifications and requirements. First, make a list of the healthcare policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More features and then discuss with the insurance broker to get the best deal.
