This is a comprehensive coverage policy which covers a specific group of people - usually employees of an organization, or members of a club, etc - against death and disabilities due to accidents/natural causes.
Group medical insurance members are benefited in several ways. Firstly, they get Insurance coverage at comparatively lower prices as the risk profile is quite evenly distributed amongst the employees.
Secondly, these plans provide are provided without much formalities and paperwork for individuals, which makes them quite popular in the corporate world.
Unlike conventional health insurance plans that are expensive, these group plans are available at varying prices and coverage offered by the employer. Thus, it saves employees from the burgeoning cost of medical treatments, thereby helping the Company to retain its valuable resources, and also contribute to the overall growth and progress of both Company & Employee.