Wednesday, 15 April 2020

We all know, our people are our most valuable asset in any business. They are pivotal in achieving overall success.

Great companies identify ways to offer the best working practices and employee benefits to take care of their employees. The result? Higher employee morale, dedication and satisfaction – key variables to having higher employee retention. With the right team in place, business owners save time and money, running their business successfully.

Google is an example; the technology company is renowned for ensuring their employees are happy while consistently increasing productivity. Google provides a wide range of employee benefits such as health, life, dental and vision insurance. They have proven that supporting their people increases employee satisfaction and consequently, performance. For this reason, Google continues to attract and retain top talent.

Like Google, company managers and human resource teams should be looking at improving employee contentment. Show your employees that you value and appreciate their efforts by offering good employee benefits and perks.

Who is it for?

In a bid to stay competitive many companies now provide various incentives to keep employees healthy and happy. Companies attract the best staff by offering advantageous employee benefits packages.

Providing necessary care and support for employees creates a positive work culture. Satisfied employees tend to work beyond normal job commitment and have higher productivity, which translates to greater business growth and success.

Here are some examples of industries that would require employee benefits insurance protection:

  • Accountants
  • Advertising/Public Relations
  • Agricultural Services & Products
  • Air Transport / Airlines
  • Architectural Services
  • Attorneys/Law Firms
  • Automotive
  • Bars, Restaurants and Cafes
  • Broadcasters, Radio/TV
  • Builders/General Contractors
  • Business Services
  • Car Dealers
  • Car Manufacturers
  • Chiropractors
  • Clothing Manufacturing
  • Colleges, Universities & Schools
  • Commercial Banks
  • Communications/Electronics
  • Computer Software
  • Dentists, Doctors & Other Health Professionals
  • Energy & Natural Resources
  • Entertainment Industry
  • Finance, Insurance & Real Estate
  • Food & Beverage
  • Government Employees
  • Health Services – hospitals and nursing homes
  • Hotels, Motels & Tourism
  • Internet
  • Newspaper, Magazine & Book Publishing
  • Pharmaceuticals / Health Products
  • Private Equity & Investment Firms
  • Public sector Employees
  • Recorded Music & Music Production
  • Retail Sales
  • Telecommunications
  • Transportation
  • And many more…

What is covered?

As an employer, you know that you have certain responsibilities towards your employees. There are a number of considerations when it comes to selecting the best company benefits such as finance and governance.

Some regular offerings by companies are comprehensive medical cover, personal accidents schemes, life and disability insurance. Select the best coverage to support and protect your people from risks based on your business industry.

Cover type: What is covered:
Hospital room & board Covers daily room charges of staying in a hospital. It includes costs for the room itself, meals, essential supplies and general nursing care. Refer to your policy to view the maximum charges per room and the number of days covered.
Intensive care unit Provides confinement in a hospital intensive care unit (ICU) for covered illnesses or accidents. It covers reasonable and customary charges.
Hospital miscellaneous services Additional charges incurred during a stay in hospital. Some examples of the services are medicines consumed while hospitalised, laboratory examinations and diagnostic procedures.
Surgical fees Covers charges for surgical operations performed. The number of procedures and fees are based on your policy.
Anaesthetist fees Covers your anaesthetic fees charged by the hospital where your procedure is performed.
Day care surgery Covers surgical procedure fees for patients who do not require an overnight stay in the hospital.
Operating theatre fees Charges payable to the hospital for costs related to the operating theatre.
In-hospital physician’s visit The medical practitioners’ consultation fees during the hospitalisation period are covered under this policy. The amount must not exceed the maximum amount and days stated in the policy.
Hospital service tax Covers tax imposed on the medical charges
Daily cash allowance at government hospital Provides daily cash payments during hospitalisation to help relieve your financial stress during hospitalisation.
Emergency accidental dental treatment When faced with specific infectious illnesses, such plans cover hopitalisation and treatment expenses.
Pre-hospitalisation specialist consultation Covers costs incurred when seeking advice from medical practitioners or specialists.
Pre-hospitalisation diagnostic services When diagnostic services or tests are required by specialists, these costs will be covered under the insured plan.
Post-hospitalisation treatment After discharging from the hospital, the follow-up treatment charges such as specialist consultations and diagnostic tests are included.
Emergency outpatient accident treatment Covers charges for accidents that require emergency outpatient treatment at hospitals or clinics. It also covers follow-up treatment within the stipulated time stated in your policy.
Emergency sickness treatment If an emergency occurs and requires sickness treatment, you can claim a fee as stipulated in your policy.
Ambulance services (by road) If you encounter any road accidents, ambulance services are included in this plan.
Medical report fees Provides a standard fee cover for medical reports for hospitalisation. The amount is based on your policy.
Second surgical opinion If you want a second opinion from your medical practitioner prior to a preceding surgery, then you can claim for this cost.
Alternative treatment (due to accident only) As a result of an accident, you seek alternative treatments if required. There is a set maximum amount and visits stipulated.
Emergency medical evacuation Coverage for emergency transportation and medical care to the nearest hospital for specific treatments.
Outpatient cancer treatment Covers the necessary cancer treatments required for patients without being admitted in the hospital.
Outpatient kidney treatment Covers the necessary kidney treatment like dialysis for patients without being admitted in the hospital.
Organ transplant Provides medical expenses for organ transplants.
Death / funeral benefits (employee only) If an employee dies as a result of if employment injury, the funeral expenses will be paid to the eligible person.

* The components, descriptions and offerings may differ based on various insurance providers.

With the right plans specifically suited to your company, you can create a positive work culture, boosting employee satisfaction. Employers who offer workplace perks and staff benefits can mitigate high risk at low cost. The employee benefits insurance policies can help ease financial burdens when faced with any unexpected events.

Review various employee benefits providers to obtain the best value for your company. Consult an insurance representative should you require more comprehensive benefit packages based on your business.

Gain more information and knowledge on employee benefits insurance by finding various packages at

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