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Corporate Health Insurance Trends: Study Reveals Surging Benefits
- 19 Apr 2024
In April 2024, a Study by Plum Insurance shows 66% rise in median sum insured for group health policies.
Key Points
- Increased Sum Insured: Median sum insured in corporate group health policies rises by 66% from Rs 3 lakh to Rs 5 lakh.
- Flexible Benefits Adoption: Adoption of flexible benefits programs doubles, offering personalized insurance options for employees.
- Maternity Benefits Offered: 15% increase in companies offering maternity benefits, showcasing a growing emphasis on employee wellbeing.
- Surge in Comprehensive Healthcare: 110% increase in companies offering comprehensive healthcare, including preventive and primary care services.
- Importance of Quality Benefits: 76% of employees consider the quality of benefits when deciding to stay or leave a company, emphasizing the role of modern benefits in employee retention.
- Trends in Additional Coverage: Growing adoption of accident, disability, and term life insurance among companies, particularly in startups and unicorns, showcases a commitment to employee wellbeing.
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