Companies

Flipkart launches unlimited medical insurance cover for its 15,000-plus employees

Sangeetha Chengappa Bengaluru | Updated on June 10, 2021

Makes several policy enhancements dedicated to families and their wellbeing

Flipkart on Thursday said, it has rolled out unlimited medical insurance cover for its 15,000 plus employees, thereby fully covering all medical expenses and cost of hospitalisation, without employees paying any premium for it. The homegrown e-commerce marketplace has announced updated policies, designed to look at the current and post-pandemic world and the needs of employees and their families.

Medical insurance

The medical insurance policy also includes: mental well-being cover for all treatments, enhancement in maternity limits, advance procedures and non-medical critical illness cover with lump sum payment, over and above medical cover for employee and spouse. The initiative is a result of an engagement survey conducted with the employees, to understand their preferences, and aims to provide them with the freedom to choose benefits based on their individual needs, including both insurance and non-insurance options. Employees have been given a choice to choose covers for their families, including children and both sets of parents too.

During these difficult times, Flipkart is helping the families of its employees who have tragically lost their lives. The benefit will be implemented with effect from the last financial year (April 1, 2020), irrespective of the reason of death. The family of the deceased employee will receive life insurance benefit to the value of 5X of the employee’s cash CTC, per the last drawn salary, along with a notice period settlement as per their contract, education support of ₹1.2 lakh per annum per child to enable continued education for up to 2 children of the deceased employee. This support will be extended until the child turns 22. Flipkart will sponsor and extend the current medical insurance cover for the family for a period of 60 months.

Additionally, Flipkart has also enabled an accelerated ESOP vesting and future repurchase opportunity during liquidity events. To support independent financial planning for the future, Flipkart will also facilitate professional and independent planners to support the family of the deceased employee.

Hospital partners

Flipkart is also working with various hospital partners and local authorities to arrange for vaccinations for all employees across the country, over the next two months. Over 15,000 employees and their families have been vaccinated to date and aims to cover 50,000 employees in the coming few weeks. Vaccinations costs for employees and 5 dependants each will be 100 per cent covered by Flipkart. This covers all corporate and supply chain employees.

“The safety and well-being of our employees remain paramount and it is our constant endeavour to update our policies. 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. We remain strongly committed to our extended Flipkart family and their well-being, as they navigate various circumstances during this time,” said Krishna Raghavan, Chief People Officer, Flipkart.

Published on June 10, 2021

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