Flipkart announces unlimited medical insurance for employees amid COVID
Amidst the pandemic, e-commerce major Flipkart has unveiled a slew of measures, including a new family support policy, life insurance cover and unlimited medical insurance cover, to all employees across the country, including supply chain staff. The new family support policy extends additional support for the families and dependents of Flipkart employees who have lost their lives due to COVID-19.
Flipkart said it has introduced a first-of-its-kind unlimited medical insurance cover for employees, thereby fully covering all medical expenses and cost of hospitalisation, without employees paying any premium for it. The company will sponsor and extend the current medical insurance cover for the family for a period of 60 months.
The family of a deceased employee will receive life insurance benefit to the value of 5X of the employee’s cash CTC (cost to company), as per the last drawn salary, along with a notice period settlement as per their contract. Flipkart will also provide education support of up to Rs 1.2 lakh per annum for up to two children of the deceased employee until the children reach 22 years of age.
To support strong and independent financial planning for the future, Flipkart will facilitate professional financial assistance programmes for the family of the deceased employee. It will also enable an accelerated ESOP (employee stock option plan) vesting and future liquidation opportunity, as needed. The company will also cover the one-time cost of an independent financial planner.
Flipkart said it continues to work with hospital partners and local authorities to arrange vaccination for all employees across the country over the next two months. It added that over 15,000 employees and their families have been vaccinated till date, and it will cover the full vaccination cost for employees and five dependents each.
Earlier in May, Flipkart started COVID-19 vaccination for its frontline workers in India. Flipkart Chief People Officer Krishna Raghavan said, “In partnership with Manipal Hospitals, we commenced our vaccination drive with the first camp today at our ETV office, prioritising Flipkart’s and Myntra’s frontline employees. As we procure more doses, we will scale up the drive.”