Companies came forward to help the family members of the staff in the Corona era, know how to give relief
The second wave of Coronavirus epidemic (Covid-19 pandemic) in the country has caused a large number of working-age group casualties. In view of this, many companies have formulated policies to help their families in case of the death of an employee from this disease. This includes everything from death insurance cover related to Covid to the continuation of medical assistant to family members, giving employment opportunities to spouse and children and helping children in their education.
At a time when the healthcare infrastructure of the country is struggling to fight this epidemic, companies from different sectors are making special policies to encourage their employees and their families. Last week, e-grocery service BigBasket launched an insurance policy for its 26,000 employees. It includes the Covid Death Cover. The company has also included employees of the third-party agency. The company’s head of human resources TN Hari said that these people are working in the field and they are at the highest risk of infection. The new policy has coverage of Rs 5 lakh. This is in addition to the existing term life insurance and accident insurance policy. Both these policies also have a coverage of Rs 5 lakh each.
Unlimited Hospitalization Coverage: Dalmia Bharat, a cement and sugar manufacturing company, is offering unlimited hospitalization coverage to its employees battling Corona. The company’s chief HR officer Ajit Menon said that if an employee dies of corona, the company is formulating a policy to support his family. He said it can be announced next week. We are also talking to insurance companies to include corona-related deaths in an insurance policy.
Essar Capital has formed a benevolent fund with the contribution of employees. If an employee dies of corona, his family will be given immediate help from this fund. Priya Chakraborty, Senior Director (HR) of the company said that all employees in the group have contributed to it and the company has also contributed equally.
Medical Assistance to Family: State-run NTPC has also decided to provide additional relief to the next of kin of employees who lost their lives due to corona. This includes medical assistance for families and education with the shelter to children. This is in addition to various group insurance schemes. The company is also strengthening its death relief scheme. Vedanta has introduced a term life insurance policy for all 12,000 executives. Under its policy, every employee has coverage equal to five years of annual salary. CHRO Madhu Srivastava of Vedanta Group said that this policy is in addition to the existing Mediclaim and Group Personal Accident Insurance policies.
Global IT company Accenture has set up a fund to which two lakh employees of the company are contributing in India. If an employee of the company dies of the corona, his family members will be given assistance from this fund. E-commerce company Flipkart has started an insurance program to cover the hospital expenses and home treatment expenses of its employees. Term life coverage is five times the annual CTC of an employee.
