Page 21 - 2022 Air Products - India Guide

Table of Types of Travel and Human Employee Employee
Insurance
Contents About Us Employment Leave Compensation Expenses Insur ance Resources Welfare Conduct

INSURANCE

The Company has insured employees under Group Hospitalization, Accidental Parental Policy
Death & Disablement and Group Term Life policies.
This Plan provides comprehensive medical coverage for employee’s dependent
Employees are requested to go through the manuals or information provided Parents or In-Laws. This plan is voluntary, and employees can choose sum insured
on Insurance site for exceptions and terms and conditions of Insurance from three options that are INR 200,000 / INR 300,000 / INR 350,000. In this
coverage; full-time Air Products India employees are eligible for benefits of plan, the Company will pay half part of the premium based on sum insured.
these policies.
It is the employee’s responsibility to enroll parents/in-laws within the time
Group Hospitalization Policy frame because an in-between addition is not possible.

This is divided in two parts: One is the employee’s medical policy and Once employees opt for parental insurance, it cannot be discontinued before 2
another is parental insurance policy. You can refer to the detailed years unless unfortunate demise of dependent.
Group Hospitalization Policy.
Global Accidental Death and
Employees Policy Disablement Insurance

This Plan provides comprehensive medical coverage for an employee and his/
This coverage is only extended to permanent employees. This policy covers
her dependents (i.e., spouse and 2 children) recorded at the insurance site.
Death, Permanent Total Disability, Permanent Partial Disability or Temporary
Entire premium for this plan is paid by the Company.
Total Disability due to accident. The sum assured for employees is equivalent
to 2 times of the annual Base Salary.
Sum insured is INR 500,000 per family defined as husband and wife and 2
dependent children as declared in insurance policy. Group Term Life Insurance

Details of newborn baby and spouse (in case of marriage) must be submitted
This coverage is only extended to permanent employees.
to the HR Department within 30 days from the date of birth or date of marriage
with Relevant identification document. The sum assured for employees is equivalent to 2 times the annual CTC, subject
to terms and conditions of the main policy.
It is the employee's responsibility to ensure that the dependents' details are
submitted on time in the system. HR will not be responsible for any such
missed cases.

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