In a noble initiative, Nippon Life India AMC has launched an employee benefit program titled ‘Family Support Plan’ to provide financial assistance and alleviate challenges faced by the families affected due to untimely demise of employees due to any medical condition.
Under this initiative, a family member of deceased employee will get a job at the AMC along with financial assistance of at least Rs.20 lakh to the entire family. “In case of an unfortunate event, the company will provide financial assistance to the bereaved family due to any medical reasons (Covid-19 or otherwise) duly covered under the scheme,” said the fund house.
Employment offer - The fund house will offer job opportunity to spouse/1 child within the organization based on their skill set and business requirement. If the job opportunity is not possible then 100% sponsorship for a one-time vocational/skilling workshop or training of up to Rs. 3 lakh will be offered.
Financial assistance – The affected families in the unfortunate event of an employee’s demise will get financial assistance of up to 2-year annual fixed pay of the employee subject to a minimum of Rs. 20 lakh.
The fund house will also offer Rs.2.50 lakh per child (for up to 2 children under 21 years) for education in such a scenario.
Mediclaim and relocation assistance -The existing mediclaim cover for the dependent family will be continued for the next 36 months, including the parents and in-laws if covered in the existing policy. The company will bear the insurance premium for such a period.
The company also offers one-time relocation and travel sponsorship for the family to move anywhere in the country.
In a press release, Rajesh Derhgawen, Chief Human Resource Officer, Nippon Life India AMC said, “This is just a small effort from us to be there standing as NAM India Family with the employees’ families, in their most difficult times and offering a heartfelt thanks to our employees for having given their best to the organization. We want to stand by our employees and their families during these trying times by offering psychological and emotional support and nurturing a positive ecosystem. Further, while the covid-19 outbreak led to the introduction of this Family Support Plan, this plan will cover all the unfortunate deaths for any medical reasons.”
Recently, the fund house has vaccinated over 1000 employees and their family members through a vaccination drive.
Are you offering any financial assistance to your employees or supporting society in anyway during these trying times? Let us know in the comment section below.
