Razorpay includes LGBTQIA, live-in partners in health insurance policy

The payments platform’s health cover now includes gender reassignment surgery and infertility treatment, while the maternity benefit cover has been increased by Rs 25,000

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Razorpay, the Indian payments solutions company, has revised its health insurance policy for all its current employees, to include LGBTQIA+ and live-in partners, as well as same-gender partners and their families.

Additionally, the policy also covers gender reassignment surgery, infertility treatment and so on.

This revamping has made its health-insurance policy more inclusive for its 2,300-strong workforce.

The insurance cover will include, gender reassignment surgery without a cost limitation, and only subject to co-pay, said the firm. Razorpay has also increased the maternity benefit cover from Rs 50,000 to Rs 75,000.

This initiative is a step in the right direction to ensuring that the employees are taken care of and the health cover is extended “beyond the traditional definitions of a family”.

The policy revision also makes Razorpay an equal opportunities employer that offers a workplace free of any discrimination whatsoever. The Company wishes to create a safe work environment for its employees, regardless of their identities.

In the initial phases of the pandemic, the Company had introduced the bereavement and widow-widower benefit. The existing policy involved 10 per cent co-pay. Now, however, the Company has decided to waive off the 10 per cent in the unfortunate event of demise during hospitalisation.

Focussing on the well-being of its workforce, Razorpay has taken several initiatives over the last two years, such as “No-Meeting Days” and “Wellness Leaves” to building a people-centric workplace.

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