I would like to know if applicable then under which law the group accident insurance policy is mandatory for company? What could be the repercussions of not having one in place?
From India, Pune
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From India, Pune
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If you are not covered under the Employees Insurance Act, then workmen's compensation would be applicable.
Companies are offering insurance coverage options to employees to ensure that, as an employer, they are concerned about the safety of people. Group accident health insurance is one appropriate option to help them acquire healthcare safety.
The provision of insurance coverage by companies has simplified things for employees. They need not go anywhere else to make an investment in insurance. With this provision, employees can seek the help of the companies to get secured against health risks.
Offering a Group Accident Health Insurance plan to employees is a wise decision. Mishaps like accidents and related injuries can bring a change in the lives of people. The injuries caused due to such incidents can hamper life to a great extent. Nobody can predict or control the extent of the accident, which can even cause several setbacks to the physical state of the injured. Therefore, it is absolutely worth investing in an accident health cover.
A group accident health insurance plan will cover a group of employees who can invest in and share the premium to be paid. All covered members can then reap benefits as and when required.
From India, Madras
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302Companies are offering insurance coverage options to employees to ensure that, as an employer, they are concerned about the safety of people. Group accident health insurance is one appropriate option to help them acquire healthcare safety.
The provision of insurance coverage by companies has simplified things for employees. They need not go anywhere else to make an investment in insurance. With this provision, employees can seek the help of the companies to get secured against health risks.
Offering a Group Accident Health Insurance plan to employees is a wise decision. Mishaps like accidents and related injuries can bring a change in the lives of people. The injuries caused due to such incidents can hamper life to a great extent. Nobody can predict or control the extent of the accident, which can even cause several setbacks to the physical state of the injured. Therefore, it is absolutely worth investing in an accident health cover.
A group accident health insurance plan will cover a group of employees who can invest in and share the premium to be paid. All covered members can then reap benefits as and when required.
From India, Madras
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Employee reference policy.doc