Frequently Asked Questions [FAQs]

Employees can avail a loan of up to INR 2 lakhs under the personal loan category.

• Reduces financial stress of employees.
• Enhances employee retention.
• Boosts productivity of the workforce.
• Builds an atmosphere of loyalty in the organization.
• Enahnces the organizations reputation in market.

Loans to employees are a part of perquisites. These benefits, when obtained by the employees, are taxable under the “Salary” head of the Income Tax norms.

As far as employee loans are concerned, an employer doesn’t have much obligations from tax point of view.

The Companies Act of 2013 governs such conditions and the amendment made on March 10, 2015 it allows companies to design policies under which they can offer loans and the details can be mentioned in the offer letter or job letter.

Employees can claim Health Insurance worth  ₹5 Lakhs starting @14 per day*.

• Medical Bills: Coverage against medicinal expenses incurred, including pre and post hospitalization.
• Pre-existing Diseases: Coverage for any pre-existing disease is provided to you after a certain waiting period.
• Claim Reimbursement: Coverage for expenses incurred for hospitalization due to a medical.

• Sum Insured Amount
• Policy premium to be paid to avail the coverage benefits
• List of network hospitals and Claim Settlement Ratio
• Sub-limits (if any) and Waiting Period (for PEDs)
• Co-payment clause

Usually, independent employees are not covered under Group Health Insurance plans. However, some group health insurance policies allow some flexibility on this issue.

At the time of using an insurance policy for your journey, a person needs to analyze the various coverage offered by the insurer. Compare the coverage offered by different insurers and get the estimated premium quotes for different policies.

No. Every traveller is issued only one insurance policy for the duration of a single journey.

Yes, a person can cancel their insurance policy midway after commencing their journey. However, the amount to be refunded depends on the insurer and can vary from one issuer to another.

• Covers critical illness.
• Safety for loans and liabilities.
• Higher sum assured at affordable prices.

• Cost-effective
• Long-term protection
• Easy to buy
• Convenience of payment

Anyone who intends to buy a Term Insurance plan must be in the age group of 18 years to 65 years and should have an income of at least ₹8 lakh.

Yes, buying term insurance at an early age entitles the insured to a lower premium on the policy. The earlier one buys a term insurance plan, the lower will be their premium amount. Also, the chances of getting the policy are higher because of good health.