Employee Benefits

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In addition to health insurance there is a range of employee benefits products which provide companies with holistic solutions to manage their employees’ interests.

Group Term Life

This is a term insurance plan taken by employers to cover their employees against death due to any cause, natural or accidental.
The plan provides life cover to groups of people on competitive terms due to benefits of group pricing.It is one master policy covering all members of the group.
Employees can be additionally covered by riders, for example, double accidental benefits, critical illness and disability covers.

Group Personal Accident

Personal accident insurance covers the risk of bodily injuries arising directly from an accident.

Group Gratuity

Gratuity is a statutory benefit governed by Payments of Gratuity Act, 1972. Under the Act, it is an additional statutory benefit payable by the employer to their employees after completion of a minimum number of years of service.
The minimum level of benefit paid is 15 days’ pay for each year completed.
The employee is eligible for gratuity benefit, either on retirement, permanent total disablement during service, death during service, resignation from service.
The employer can also structure a gratuity benefit that is higher than stipulated in the statutory requirements.

Leave Encashment

Leave encashment is a benefit offered by an employer to his employees, where by an employee can accumulate his/her leave over a period of time.
The accumulated leave is paid as a lump sum to the employees or their dependants on retirement, death, disablement, voluntary retirement etc., in accordance with guidelines framed by the employer.
Employee exits are uncertain which can result in to major adverse cash flow situations for the employer. Hence it is prudent for an employer to setup a leave encashment fund to meet these future payments from time to time.

Group Pension Funds

These are also known as Superannuation policies.They are designed to take care of employees after retirement. The object of the se schemes is to provide pension to employees from the date of their retirement so that they can maintain a reasonable standard of living after retirement.

Infina Insurance Broking Pvt. Ltd.
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     Sir P. M. Road, Fort,
     Mumbai - 400 001.
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Infina Reinsurance Broking Pvt Ltd
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     Mumbai - 400 001.
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