Unlimited Medical Insurance Cover
E-commerce major, Flipkart has introduced a first-of-its-kind unlimited medical insurance cover for employees, thereby fully covering all medical expenses and cost of hospitalization, without employees paying any premium for it.
Flipkart has also announced updated policies, designed to look at the post-pandemic world and the needs of the employees and their families.
The new comprehensive healthcare policy includes mental wellbeing cover for all treatments, enhancement in maternity limits, advance procedures and non-medical, critical illness cover with a lump-sum payment, over and above medical cover for employee and spouse.
Yesterday, Flipkart has also announced its Bereavement Support Policy for the families of employees who lost their lives battling COVID-19.
Bereavement — New Family Support Policy for India
Beyond grieving for colleagues lost to COVID-19, Flipkart stands with their families. The new Family Support Policy for India extends additional support for the families and dependents of Flipkart employees who have lost their lives to the COVID-19 pandemic.
Additional support measures for families, apart from existing provisions, have been introduced.
Life Insurance Cover: The family of the employee who succumbed to COVID-19 will be provided with a life insurance cover to the value of 5X of the employee’s CTC along with a notice period settlement as per their contract.
Education Support: Flipkart will provide education support of up to INR 1.2 lakh per annum for up to two children of the deceased employee until the children reach 22 years of age.
Medical Insurance Cover: Flipkart will sponsor and extend the current Medical Insurance cover for the family for a period of 60 months.
Financial Planning Assistance: To support strong and independent financial planning for the future, Flipkart will facilitate professional financial assistance programs for the family of the deceased employee.
Accelerated ESOP vesting: Flipkart will also enable an accelerated ESOP vesting and future liquidation opportunity, as needed. The company will also cover the one-time cost of an independent financial planner.
