The Importance Of Health And Life Insurance
Employees and employers in the corporate world must be educated about the importance of health and life insurance. They sometimes forget about the importance of investing wisely in a good insurance scheme to secure their families financially in case of an untoward accident or illness. In this age and time, when employee well-being directly translates to the company’s success, companies are increasingly stepping up to ensure that their employees receive the best possible health insurance and other such perks, which add to benefits the employee receives from the employer.
Most organisations provide health insurance for their employees. Conducting seminars and sessions on the importance of investing in life insurance is also important. Life insurance, especially if the employee is the sole earner, can be of immense help to his or her dependents. The leadership team, especially the Human Resources division, can bring about immense value addition to the lives of employees if they start initiatives for investing in the employee’s financial stability and prosperity.
In addition to the value that the insurance schema provides, the yearly premium paid for the insurance is tax exempt as per the section 80D of the Income Tax Act. Awareness of the importance of such policies can be furthered by tie-ups with insurance companies, to give employees a better understanding and direction about which scheme is the most beneficial. If company policy allows, many insurance companies will surely be very happy to explain their products and conduct sessions in the company premises. Policies may even be customised to best suit the needs of the employee and organisation.
Educating employees about health and life insurance can prove invaluable to both the company and the employee. In times of crisis, insurance can make a significant difference to the family, future, and well-being of the employee and his or her family.
