An employee benefits insurance plan is a kind of insurance plan which is offered by an employer to its employees. It provides health and life coverage to its employees in the case of medical or other kinds of unforeseen emergencies. It is usually non-monetary compensation given to employees by employers in addition to salary (although soe might involve a salary sacrifice arrangement).
The purpose of a employee benefits package is to keep staff engaged and motivated, improve employee wellbeing (it could be physical, mental, emotional or financials) with the purpose of helping companies to attract and retain staff in our competitive environment.
Usual Employee Benefits would include:
- Hospitalisation and Surgical Benefits – This is to cover hospitalisation and surgical expenses in either private or government or government restructured hospitals. This usually comes with a rider to cover extended major medical to reimburse eligible expenses in excess of benefits payable under the basic group hospital and surgical plan where there is extended hospital stay.
- Outpatient Medical benefits – This is to cover outpatient medical expenses in either the panel clinics or government polyclinics. This may cover consultation medication, basic x-ray and laboratory tests.
- Group Term Life – This is to cover against death due to illness or accident and the sum assured is payable in a lump sum.
- Group Dental – This is to cover eligible reasonable and customary charges at dental clinics.
- Group Personal Accident – This is to cover loss of life, permanent disablement or dismemberment due to accident.
- Expatriate Medical Insurance – Expatriate health insurance is designed for those who are living and working abroad. It is designed to give you and your family access to the best healthcare possible, wherever you are in the world.
Apart from the usual employee benefits, we are also able to help structure flexi benefits schemes and wellness programmes for our employee benefits client.
