🛡️ Best Group Health Insurance in India for Small Companies (10 Employees)
In today’s competitive work environment, offering health insurance coverage to your employees isn’t just a benefit—it’s a necessity. For small companies with a workforce of 10 employees, finding the right group health insurance that balances comprehensive coverage, affordability, and ease of onboarding can be challenging.
To help you choose the best plan, we’ve compared top insurance providers in India, highlighting their benefits, approximate premiums, Jharkhand vs Bangalore pricing, and minimum team size requirements.
✅ Best Group Health Insurance Options for Small Companies (10 Employees)
🥇 Bajaj Allianz Group Health Insurance – Best Overall Pick
- Minimum requirement: 7 employees (ideal for your 10-member team)
- Sum insured: ₹1 lakh to ₹5 lakhs
- Claim settlement ratio: 98%
- Network hospitals: 6,500+
- Key features:
- Covers 130+ daycare procedures
- Includes dialysis, chemotherapy, radiotherapy
- Zero waiting period for pre-existing diseases
- Both cashless and reimbursement claims
- In-house administration for faster processing
✅ Why Choose: Cost-effective, flexible, and trusted with high settlement ratios—Bajaj Allianz is perfect for startups and growing SMEs.
🥈 SBI General Group Health Insurance
- Minimum employees: 7 (as per some brokers)
- Sum insured: ₹1 lakh to ₹5 lakhs
- Claim settlement ratio: 97%
- Network hospitals: 6,000+
- Key features:
- Covers hospitalization, day-care, pre & post expenses
- No medical tests needed for enrollment
✅ Why Choose: Trusted government-backed insurer with low entry barriers and decent pricing for small teams.
🥉 ICICI Lombard Group Health Insurance
- Minimum team size: 10 employees (perfect match)
- Sum insured: Up to ₹5 lakhs
- Claim settlement ratio: 94%
- Network hospitals: 9,500+
- Key features:
- Unlimited teleconsultations
- Wellness and fitness programs
- Paperless claims and onboarding
- Covers maternity and newborns from day one
✅ Why Choose: Ideal for metro-based teams (like Bangalore) with strong digital and wellness support.
⭐ Star Health Group Insurance
- Minimum size: 7 members (including family members)
- Sum insured: ₹1 lakh to ₹1 crore
- Key features:
- Waiver of waiting periods available
- Floater family coverage
- No medical screening
- Cashless across 14,000+ hospitals
✅ Why Choose: Great for teams with dependents or family inclusions. Flexible floater policies.
💰 Premium Breakdown (Estimated)
Premiums vary significantly based on age, city, risk profile, and add-ons like maternity, OPD, or critical illness.
| Provider | Bangalore (Zone A) | Jharkhand (Zone B/C) | Avg Per Employee/Year |
|---|---|---|---|
| Bajaj Allianz | ₹6,000–₹7,000 | ₹4,500–₹5,500 | ✅ ₹5,000–₹6,500 |
| SBI General | ₹5,500–₹6,500 | ₹4,000–₹5,000 | ✅ ₹4,500–₹6,000 |
| ICICI Lombard | ₹8,000 | ₹6,000 | ✅ ₹7,000 |
| Star Health | ₹7,000–₹9,000 | ₹5,000–₹6,500 | ✅ ₹6,000–₹7,500 |
| ACKO / Digit | ₹2,500–₹5,000 | ₹1,500–₹3,500 | 💸 Starting ₹960 (Digit) |
📝 Note: Final premium will depend on:
- Average age of your employees
- Medical history and risk factors
- Chosen add-ons (maternity, critical illness, OPD)
- Location (metro vs non-metro pricing)
- Sum insured (₹5 lakh in this case)
🧾 What to Look for in a Group Health Plan
| Criteria | Why It Matters |
|---|---|
| Minimum employee requirement | Ensures eligibility for small businesses |
| Claim settlement ratio | Indicates insurer’s reliability |
| Hospital network | Enables cashless access across locations |
| Waiting period | Zero waiting boosts coverage from day one |
| Wellness & telehealth options | Adds more value for tech-savvy and remote teams |
| Digital onboarding & support | Saves HR time, better experience for employees |
💡 Final Recommendation
If your 10-member company is looking for a reliable, budget-friendly, and high-coverage group plan, here’s how to choose:
- 🏆 Best Overall: Bajaj Allianz – balances coverage, cost, and speed.
- 🧠 Most Comprehensive: ICICI Lombard – includes teleconsultations, wellness, maternity.
- 💸 Most Affordable: ACKO / Digit – if you’re okay with minimal frills.
- 👨👩👧👦 Best for Family Add-Ons: Star Health – flexible floaters and no pre-screening.
📞 How to Get Started?
- Contact an IRDAI-registered insurance broker or use platforms like PolicyBazaar, Plum, or Onsurity.
- Request quotes based on:
- Employee count (10)
- Coverage (₹5 lakh)
- Location (Jharkhand or Bangalore)
- Compare benefits and final premiums.
You can also get a quote directly from:
- Bajaj Allianz
- SBI General
- ICICI Lombard
- Star Health