Tailored made Employee Benefit Insurance Policy

Customized insurance plans to fit your Employee and Organisational requirements.

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Why is Employee Benefit Insurance Essential?

Employee benefit insurance is crucial for companies that value their employees and aim to build long-lasting trust. It safeguards employees and their families from health issues, accidents, and financial challenges. Providing health, life, and accident coverage enhances morale and loyalty. A solid employee benefit insurance plan improves productivity, reduces attrition, and builds your reputation as a caring employer.

Protect Your Human Capital

By having adequate employee benefit insurance you take care of your most valuable asset, Human Capital.

Financial Security

Employee benefit insurance shields your team’s finances during medical emergencies, accidents, or unforeseen life events—offering peace of mind and easing financial burdens.

Employee Well-being

Inclusive plans support health and morale with medical, life, and accident coverages that safeguard employees and their families when they need it most.

Talent Retention

Offering robust group health insurance and company health insurance policies attracts and retains talent by showing genuine commitment to employee's financial security.

Workplace Productivity

Secure employees are focused and motivated, leading to increased efficiency and a positive work environment.

Regulatory Compliance

Meet statutory employee welfare requirements and labor law compliance with proper group personal accident (GPA) and employees compensation (EC).

Peace of Mind

Create a culture of trust with all-encompassing employee benefit insurance, allowing your team to focus on their work without worry.

Who Needs Employee Benefit Insurance?

Discover which organizations benefit most from comprehensive employee benefit insurance.

Employee benefit insurance isn’t just for large corporations. Startups, SMEs, and companies across sectors rely on employee benefit insurance to protect their greatest asset: their workforce.

Any company with 10 or more employees is recommended to take Employee Benefit Insurance. IT and technology firms use employee health insurance and life policies to boost job satisfaction and reduce turnover. Manufacturing and logistics companies prioritize employees compensation, group accident and health insurance to protect employees exposed to physical risks. Corporate offices and finance sectors provide employee benefit programs such as zumba, yoga, personal mental care etc. to promote wellness, maintain productivity, and attract skilled professionals. Even small businesses invest in tailored employee benefits to show care and build lasting loyalty.

Simply put, organizations depending on dedicated employees gain from reducing turnover, enhancing morale, and earning a reputation as caring employers.

Should your business have one? Absolutely. Consult our experts today.

Types of Coverages Included

Protect employee health, well-being, and financial stability from unexpected events with comprehensive insurance

Group Health Insurance

Covers hospitalization, medical treatments, and health expenses for employees and families.

Group Term Life Insurance:

Provides lump-sum benefits to beneficiaries during an unexpected loss of life of the employee.

Group Personal Accident Insurance:

Covers accidental death, permanent and partial disabilities, loss of pay caused by accidents worldwide, 24/7.

Group Overseas Travel

Essential travel protection for business trips.

Group Gratuity

Provides employees with a lump-sum retirement benefit, while it offers employers a way to reward loyalty and manage financial liabilities effectively.

Employee Deposit Linked Insurance (EDLI)

Secure Rs.7.02L death cover per employee.

How Employee Benefit Insurance Works?

We discuss in detail and tailormade plans of your requirements and budget.

Needs Analysis

Assess company and employee demographics to customize benefit plans, optimizing coverage and cost.

Carrier Negotiation

Leverage insurer relationships to secure competitive rates, terms, and customized policy clauses.

Policy Issuance & Service

Handle seamless policy issuance, ongoing support for smooth operations including claims and renewals.

Data-Driven Insights

Analyze usage and satisfaction to refine benefits strategy and boost employee engagement through a dedicated portal for policy and claims service.

Frequently Asked Questions

Clear answers to common questions about employee benefit insurance, coverage, claims, and benefits for SMEs and business owners.

Why to choose Employee Benefit Insurance with Parivaar?

Parivaar offers an exclusive, secure employee portal simplifying HR tasks like employee enrollment, e-card downloads, dependent management, policy details, and claims assistance. This reduces HR’s administrative burden and stress. Plus, periodic MIS reports keep HR and management informed for smooth benefits oversight, ensuring a seamless employee experience.

What is Employee Benefit Insurance?

It is a policy that provides protection for health, life, and accidental coverage for employees, funded by the employer as Group Health Insurance, Group Term Life Insurance and Group Personal Accident.

Why is Employee Benefit Insurance important for businesses in India?

It is important especially during the current increasing medical expenses, also it helps attract and retain talent, ensures employee well-being.

Is Employee Benefit Insurance mandatory in India?

While not mandatory by law for all companies, certain benefits like Employee State Insurance (ESI) are compulsory for eligible businesses.

How is the premium for Employee Benefit Insurance calculated?

Premiums depend on factors such as employee count (and depends, if considered), age, coverage type, sum insured, prior claims ratio if applicable, and location.

Can employees customize their coverage?

In most group health plans, the employer defines core benefits. Employees may have limited flexibility, such as adding family members, opting for higher sum insured, or buying voluntary top-up covers, depending on the insurer and employer’s chosen design.

What is a cashless benefit?

Cashless lets insured members get medical treatment at network hospitals without paying upfront excluding non-medical expenses as per IRDAI.

What are network hospitals?

Network hospitals are insurer-empanelled facilities where employees/insured dependents get cashless treatment up to sum insured.

What is a reimbursement claim?

A reimbursement claim is a formal request for getting back money already spent on eligible expenses, most commonly medical bills, by submitting original receipts and documents to an insurer or TPA for repayment.

What are non-medical expenses?

Non-medical expenses include registration, disinfectant, gown, hand wash, surgical blades, needles, and optional items like food etc. as per IRDAI norms.

Is treatment covered under blocked/excluded hospitals?

No. Expenses for treatment at these specific hospitals are generally not covered for either cashless or reimbursement claims.