Business Development, Employee Relations,
Korgaonkar K A
1. Don't opt for fancy schemes with Large/too less premium, which your company cannot continue in long run.
2. Ensure that any policy you finalise, it must have both "Medical Cover" and "Term plan cover " for the employee and dependants. Try include dependants parents as well.
3. Remeber, the premium for such polcies will vary based on claims made so, have a have a policyu which will have sufficient buffer.
4. Try finalise with insurance company which has better reimbursement and medical approval system. Remember, in emergency what matter most is how fast the employee is able to treat the patient with less hassless.
5. Try frame the policy wherein the contribution from employee is less then 12% and employers contribution, 88% an above. The more the employer contribution is better.
6. For employee contribution, have the deduction if possible done on monthly basis. This will give less pressure in their monthly takehome.
7. Ensure that Pregancy, dental, and other diaseas are always covered in policy.
8. Don't frequently change the policies provider. Try to be with one provider atleat for 3yrs and then bargain wuith them on premium with new players.
You can find plenty of insurance broker in google.
Hope its helpful.
22nd June 2013 From Saudi Arabia, Riyadh
Thanks for the suggestion. At the moment, I have contacted few insurer but everybody claims that due to less number of employee strength they can't provide customized insurance policy. I have also taken the opinion from employees and i think only 12-15 employees are interested to go for the insurance. Under this circumstance, please suggest what best we can do.
23rd June 2013 From India, Bengaluru
What I understand from your post that you wants insurance cover for your employees. Normally insurance cover means life cover.
For life cover, you have with you LIC of India which is a Govt. owned company which has as many as 48 products on life cover.
You can cover your employees with any one or more products with various options under SSS (salary saving scheme) or under Employee-Employer Scheme.
In SSS, premium will be deducted from salary of employees monthly and deposited by employer with LIC.
In Employee-Employer Scheme, employer can pay the premium either fully or partly and avail IT benifit. Even employee can avail IT benifit.
You need to understand all those things.
Its seems you are from Bengaluru If you are interested in insurance cover of your employees, my representative can meet you and give proper presentation to you and your employees. You may contact me on 9820116383 or at:
23rd June 2013 From India, Mumbai
Check out this link. Call them and seek their quotation.
List of Insurance Brokers
When you call them tell them that min numbers of employee would be 30/50 and that company would be making the premium payment. They need to know what arrangements you have with employee. Employer paying premium is a cake Insurer can't resist, as this would be 100% gaurenteed payment.
Secondly, you would need highlight the benefits to employees. Most employee really don't understand how important this schemes are till they lose all theur saving in medical treatment and unfortunate death of sole family earner. This is your job to educate them.
24th June 2013 From Saudi Arabia, Riyadh