Flipkart’s new health insurance policy will include mental well-being and treatment, critical illness cover, lump-sum payment in addition to the medical cover in case of hospitalisation and critical illness for employees and their spouses. However, the biggest news is that all the employees can avail unlimited and unrestricted health cover, free of cost.
Additionally, the Company has increased maternity leave and also included advanced procedures under health insurance coverage, such as ayurvedic treatment, robotic surgeries and IVF treatment.
Families of employees who lose their lives while on duty, will get life insurance cover worth five times the deceased employee’s annual CTC, in addition to the notice period settlement as per the employment contract. The surviving family members of the deceased employees will be transferred to the entitled ESOPs. They will also receive assistance in the form of professional and independent financial planners who will help the members with guidance in decision making.
The policy will come in effect retrospectively from April, 2020 and will benefit the families of all deceased employees, irrespective of the cause of death. It will also cover all cost of treatment and medical expenses of full-time employees, irrespective of the condition or disease. For non-medical and critical illnesses, the Company will provide a lump sum amount.
Quite recently, Flipkart had rolled out an enhanced ESOP scheme, providing employees with the option to re-purchase the stocks during liquidity events.