BENGALURU: Flipkart has introduced one of the most progressive medical insurance and family support programmes in Indian industry. The e-commerce pioneer is offering unlimited medical insurance for its full-time employees, an updated policy covering all medical expenses and cost of hospitalisation, without employees having to pay any premium for it.
Flipkart employs over 15,000 full-time employees in India. The new policy will continue even in the post-pandemic world.
The family support policy is for bereaved employees, and the benefit will be implemented with retrospective effect from April last year, irrespective of the reason of death. The family of the deceased employee will be provided with a life cover to the value of five times of the employee’s CTC, along with a notice period settlement as per their contracts.
It also supports the education needs of up to two children of deceased employees with Rs 1.2 lakh per annum per child. This support will be extended until the children turn 22. Flipkart will sponsor and extend the current medical insurance cover for the family for a period of 60 months.
Krishna Raghavan, chief people officer at Flipkart, said, “Since the onset of the pandemic, we have gained valuable insights from the voices of our employees and a deep understanding of their priorities. We are keen to use these learnings to design and create policies that put employees at the centre stage.”
Flipkart told TOI that the unlimited medical insurance is extended to only full-time employees and covers all health-related issues that require medical treatment irrespective of the cost of treatment.
The insurance policy also includes mental wellbeing cover for all treatments, enhanced maternity limits, advanced procedures including robotic surgeries, IVF treatment, and non-medical and critical illness cover with lump sum payment.
The company has also enabled an accelerated ESOP (employee stock option plan) vesting and future repurchase opportunity during liquidity events. It will also facilitate professional and independent planners to support the family of the deceased employee.
News Source – https://timesofindia.indiatimes.com/business/india-business/flipkart-staff-get-unlimited-health-cover/articleshow/83420142.cms