Business Solutions - Life Assurance

Employers are often governed to provide for gratuity or end of service benefits and pay employees when they leave services. Many organizations have been providing for the gratuity disbursements only in books of accounts but utilize the provisions in the day to day operations of the business activities. This will affect the employer’s cash flow and often the employer may not be able to retrieve cash from business if a few employees are to be paid off at a time or the amounts to be paid are huge. These risks can be covered under Group Pension Scheme and if designed properly can get decent return on investment. If employees are made to participate in pension funds they also can earn decent return on their saving besides it cultivates a good saving culture among employees. Employee morale and loyalty are likely to get a boost.  


Group Life Assurance Policies are generally cheaper than individual policies catering to the needs of employers. These days growing number of employers provide Life Assurance to their employees combining their obligations under Laws as well as providing wider protection in order to boost the employee morale and welfare thereby achieving an increased work satisfaction and productivity. Policies can be designed with sophisticated compensation packages to attract and retain intellectual capital as well as to generate positive image.

Group Life Assurance policies can be extended to include protection against disabilities due to Personal Accident or Critical Illness or benefits in respect of repatriation or any other benefits on need basis.

Stand alone Personal Accident and disability policies can be designed with flexible benefits based on the estimated number of employees with certain predetermined parameters.   

Organizations can also consider Key-man Insurance on Business partners or Key personnel against the financial difficulties in the event of their untimely death or disability.

Commercial Travelers or senior employees are exposed to the risk being kidnapped whilst they are on travel or in their place of work. Dealing with Kidnap and Ransom can be devastating experience besides serious financial implications and this can be insured against ransom or expenses incurred on negotiations or settlements or hiring security etc.,   Tailor made Kidnap and Ransom Policies would relieve organizations from dealing with the trauma of senior employee being kidnapped.       


Travelling on business or on holidays expose to certain additional risks such as Personal Accident, Medical and associated expenses, Loss of or damage to Personal Baggage or Personal money or travel documents, Financial loss and additional expenses due to Cancellation of travel plans or Personal Liability etc. Most of these risks can be covered by an all-in-one insurance package on single trip basis or on annual basis covering multiple trips. Frequently travelling Directors, Executives and other employees can be covered under an Annual Business Travel Policy by designing it to suit specific needs.



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