Why Every Company Needs an Effective Employee Benefits Insurance Plan
                     Why Every Company Needs 
an Effective Employee 
Benefits Insurance Plan
https://firstpolicy.com/
The war in the current business environment is not only about acquiring 
market share but also about talent. The best strategy that has been 
employed in organizations seeking to retain, motivate, and recoup its 
employees is through provision of an insurance plan under the employee 
benefits structure. Besides being a necessity in many situations, such 
plans prove the company’s concern about the health of workers. The 
successful benefits solution can include services such as Employee 
Benefits Management, company medical insurance, workmen 
compensation policy coverage, group mediclaim insurance policy for 
employees.
This paper is focused on why every organization must have an excellent 
employee benefits insurance plan.
Key Components of an Employee Benefits Insurance Plan
Company Medical Insurance
Being a part of an organization, an employee values his/her health, so 
company medical insurance in an organization is the cornerstone for all other 
benefits. It offers Ambulatory medical, surgical and diagnostic services, 
hospitalization, and other preventive and corrective procedures. Besides 
protecting employees from high costs of health care this insurance helps their 
health in general.
Business organizations which provide company medical insurance promote 
security and less sickness related absenteeism hence increased productivity 
among the employees.
Workmen Compensation Policy Coverage
For organizations which experience workplace risks, 
workmen compensation policy coverage is imperative. This policy provides for medical 
expenses, wages for the period the employee is unable to work, and cost of rehabilitation 
where the disability results from workplace injury or disease.
From an employer’s perception, this policy eradicates legal problems and compliance with 
labor laws fostering trust and goodwill among employees.
Group Mediclaim Insurance Policy for Employees
A group mediclaim insurance policy for employees offers health coverage to the entire 
workforce under a single plan. It should be noted that this practical solution improves the 
organization of work, as well as the conditions of both employers and employees at the 
expense of money. It usually entails costs of hospitalization, prior illness, pregnancy and other 
related complications.
Premiums are low and full health cover is available to the employees while on the employer’s 
side, management of the health programs is easy and employees’ satisfaction is improved.
Benefits of an Effective Employee Benefits Insurance Plan
Enhanced Employee Retention
Designing a credible benefits plan shows that the company cares for its employees and 
encourages them to stick to the company to avoid high turnover.
Improved Employee Health and Productivity
Facilities provided by the company for medical insurance and group mediclaim insurance 
policy include the aspect that workers can avail timely medical services and this help in 
reducing the problems of absenteeism due to ill health.
Legal Compliance
Such policies as the workmen compensation policy coverage guarantee that companies 
follow the belt cored labor policies without legal repercussions and or tarnishing the 
companies’ image.
Attracting Top Talent
Comparative perks present a significant weapon to winning professional candidates 
in a tossed-to-and-fro market.
Financial Protection for Employees and Employers
They help employees have less pressure when dealing with medical expenses and 
work- related injuries while also freeing employers from possible large bills.
Conclusion
Employee benefits insurance is not just an administrative cost on the 
organisation – it is the provision and protection of workforce welfare and 
organisational health. Proposals such as a group medical insurance policy for 
the employees and company medical insurance, Workmen Compensation 
Policy coverage and group Mediclaim insurance policy make the company a 
conducive place for employees.
That’s why it is critical for organizations that want to keep their best 
performers, increase output, and support a healthy working environment – to 
consider employee benefits as a must-have rather than a nice add-on. There 
will be smiling faces of the staff, appropriate salary that should be paid to 
workers, satisfaction and the long-term stability of the firm as a whole.
Contact us
First Policy is more than insurance broking; we’re trusted advisors working 
with you to develop world-class risk management programs. 
https://firstpolicy.com/
7, Soormani 163, Opp. Dav School,
D.P. Road, Aundh,
Pune – 411007
Phone : +91-20-66073200
Email:  [email protected]