Employee Benefits

Group Personal Accident Insurance: 

The Risk In today’s fast-changing world the chances of bodily injury due to accident has increased by leaps and bounds. Bodily injury of the bread earner resulting in death or disablement may prove particularly distressing for the dependants and family members. The Solution To protect the dependants and the family members from such a scenario, protection under Group Personal Accident Policy is available. The Cover The policy kicks into action and pays compensation in case of death or bodily injury to the insured member of the group due to an accident. Various options are available under this policy ranging from cover for death due to accident, permanent partial disablement to temporary total disablement etc. The compensation varies for death, permanent disablement and temporary disablement. Though, it is difficult to put a value on human life, to avoid any misuse of the policy, the Sum Insured depends on the Income of the person/ member of the group.
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Group Health Insurance: 

The Risk Quality medical costs are becoming increasingly expensive and could eat up our savings. The cost of a simple surgery can easily touch Rs 1 lakh. Cancer treatment would cost lakhs. Even the upper middle class are forced to sell their valuable assets to meet the medical expenses. Other expenses like travel, lodging, loss of income account for as much as 35% of the overall cost of treatment. The Solution Group Health Insurance schemes that provide health insurance coverage for employees/ members and their dependants for expenses related to hospitalization due to illness, disease or injury. The standard health policy that reimburses you the actual hospitalization cost of treatment of any disease, offered by non life insurers / standalone health insurers are popularly called ‘Mediclaim’ policies. The Cover Expenses on Hospitalization for a minimum period of 24 hours are admissible. Room and Boarding Expenses, Intensive Care Unit charges, Doctors fees, Nursing Fees, Surgical Fees, Operating Theatre, Anesthesia and their administration, Drugs and Medicines consumed on the premises, Hospital Miscellaneous Services (such as laboratory, x-ray, diagnostic tests), Dressing, ordinary splints and plaster casts shall be reimbursed provided they are incurred in India within the policy period and up to the level of cover that the member is entitled to. Dependants of Employees can also be covered. There can also be a single Family Floater Limit rather than an individual limit per member. Other benefits like pre-existing diseases, maternity cover, and baby cover from day one can be offered under a Group Scheme.

 

The Cover:

You can choose to buy insurance for only the building (structure) of your home, or only the contents (belongings) or both. The following fire and special perils are covered: Fire Lightning Impact Damage Aircraft damage Explosion / implosion Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation Riot, Strike, Malicious Damage Landslide including Rockslide Bursting and/or overflowing of water tanks, apparatus and pipes Missile testing operations Leakage from automatic sprinkler installations Bush Fire

 

Group Overseas Travel Insurance:

The Risk The risk of accidental injury or sudden illnesses while traveling or staying abroad cannot be ignored. The Solution Corporate Overseas Travel Insurance aims to provide employees financial shelter in the event of hospitalization resulting from accidental bodily injury or sudden illnesses during temporary stay abroad The Cover The cover offers flexibility to select at inception, a combination of sum insured, benefits & geography for different employees. The Limits of coverage can be chosen from USD 50,000 to USD 500,000 The rates offered are based on indicative utilization of annual travel days and are charged on the basis of the actual days of travel. The maximum duration per trip is 180 days but can be extended on a case-to-case basis. An Online portal access is provided that enables the client to independently issue certificates of insurance via simple single screen data entry. A unique customer ID and password is provided for a safe & secure 24 *7 accessibility and availability over internet. Benefits include Medical Treatment, Dental Treatment, Accident & Disability Benefits, Medical Evacuation & Repatriation of Remains as well. It also provides cover against Loss of passport, Loss of Checked Baggage, Delay of Checked Baggage, Trip Curtailment, Trip Cancellation & Trip Delay subject to sub-limits and deductibles.

 

Group Term Insurance:

The Risk In today’s fast-changing world the risk of death of an employee cannot be completely ignored. It may prove particularly distressing for the dependants and family members. The Solution To protect the dependants and the family members from such a scenario, protection under Group Term Insurance Policy is available. The Cover Group Term Insurance is a convenient yearly risk insurance product which pays a Face Amount to the employees in the event of any cause of death. A Group Term insurance plan is not only cheaper than individual coverage but also waives the requirement of medical tests in most cases. In addition to add-on accident & disability riders, Group Term plans also offer an option to convert to an individual policy. The amount of life cover can be customized based on requirements like a uniform cover for all members or a grade wise cover. This cover is available 24*7 anywhere in the world.

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