INSURING YOUR EMPLOYEES

To any organisation, employees are one of their most important assets, and like every other asset, they should look forward to insuring them. The latter sends a message that an organisation cares for their wellbeing and does not treat them as just a resource. “Health is a very important element. If something serious happens and the person doesn’t have an insurance cover, it affects not just his performance but the overall performance of the company. In that sense having group insurance by employer is a wise thing,” says TA Ramalingam, Chief Technical Officer, Bajaj Allianz General Insurance.

- PRIYA KAPOOR

The Covid-19 pandemic changed everything, and one of them is how we look at health. With a number of people falling prey to the infection, organisations realised that a group plan covering employees is the second best thing next to monetary compensation. Says Raghuveer Malik, head, Corporate Business, Policybazaar. com. “In today’s post-Covid-19 times, offering group health insurance is a win-win game for both the startup/ organization and its employees. Under this single umbrella, the organisations can avail of several benefits like a healthy workforce which is considered the fuel of a productive workplace. Group health insurance plans offer high employee attraction and retention as it gives the feeling of belongingness and a sheer sense of being taken care of. Simultaneously, if the organizations take care of their employees, they will take care of the organization’s clients which ultimately results in increased performance.”

THINGS TO LOOK WHILE BUYING A GROUP INSURANCE FOR EMPLOYEES

>> Large sum assured

>> Minimum waiting period

>> Maternity and new born coverage

>> Coverage of employees families

>>Wider network of hospitals

>> Avoiding sub-limits and co-payment >>> Cashless claim ratio

What is group insurance