Employee Benefit Programs

It’s time to work on employee satisfaction by adopting some of the proven employee benefit programs that suit your requirements and thereby maximize productivity in a long run.

Employer-sponsored Health Insurance, Group Personal Accident Cover and Group Term Life Policy are a few of the most opted types of employee benefits programs that get everybody's interests aligned. Let’s take a look at the advantages that make them one of the most sought after employee benefits program.

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How helpful are Employer Sponsored Group Health Insurance Policies?

The importance of employee benefits, especially when it comes to Group Health Insurance is often overlooked and neglected as most of your employees may not understand its advantages. Here are some of the most common features from a few top employee benefits providers from the health Insurance Industry that make a lot of difference:

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  • Tailor-made competitive premium plans
  • Additional health cover for those who already have family or individual health insurance policy
  • Medical check-ups are not required to qualify for the cover
  • Policy cover is applicable from day one
  • Maternity benefits come along with some exclusive features
  • These plans are usually 30% cheaper than individual health plans
  • Lower premiums with higher sum assured
  • Many policies also cover pre-existing medical conditions
  • Cover is not denied based on age or medical history
  • Boarding expenses, surgeon/anesthetist/consultant fees, anesthesia, oxygen and diagnostic materials along with X-rays and dialysis costs are a few things that many policies cover
  • Cashless treatment facility and direct settlement of bills with hospitals
  • Pre and post-hospitalization charges are included
  • Certain procedures like chemotherapy, eye surgery and tonsillectomy that takes less than 24 hours of hospitalization may also be covered
  • Domiciliary expenses coverage, waiting period waiver, first year exclusions, ambulance charges reimbursement are the other optional benefits that are available in many group mediclaim plans.
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Covers against Permanent Total and Permanent Partial Disablement due to accident

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Death or Permanent Total Disability of Insured may qualify for Children Education Bonus

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Actual medical expenses of the insured are covered according to the policy terms

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The insured may also qualify for Hospital Confinement Allowance, subject to eligibility conditions

Benefits of Group Term Life Policy

Employees of organizations with possible workplace vulnerabilities need group term life policies to stay insured against financial and physical traumas. An excellent employee benefit package not only takes care of the employee but also aids in funding gratuity liabilities of the employer thus reducing their burden.

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With such employee benefits package, employers are empowered to cover their human resource with various welfare programs as listed:

  • Assured financial assistance to families of employees in case of discontinuation of service due to demise or critical illness
  • Exemption from medical test according to policy’s free cover limits
  • Premium amount paid by the employer qualifies to be counted among perquisites
  • Simple documentation and easy claim procedures
  • Customizable plans to meet specific needs of the employee group

Are you looking out for Employee benefits insurance policies from employee benefit companies with employee benefit services and employee benefit solutions that fulfill your requirements and supports you employee needs? Try getting the help of employee benefit consultants or employee benefits broker who will work on behalf of you to negotiate with the insurance providers, thus reducing your employee benefit expenses.

As employee benefits consultants don't represent the insurance companies, you are sure to get a comprehensive cover to suit your employees for the most competitive pricing in the market. You can choose from a variety of employee benefit insurance schemes to include the features that interest your employee group. Employee benefits administration is no more a tough job if you have identified the right employee benefits broker who can hand hold you through the employee benefit systems and procedures. InsureKaro offers dedicated IT Tools to enable transparent dealing and tracking of insurance related communication between employees and the insurance broker representative.

 

Employee benefits in India do not get the attention they deserve mainly because of widespread misconceptions attached to employee benefits expense and employee benefit programs. Letting the workforce know your employee benefits and services plans will encourage them to stay loyal to the workplace for longer.

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