ESIC is a dream for many people. ESIC offers the best coverage and benefits in India, but it’s also affordable too! This post will tell you why you should get an ESIC policy from the employee state insurance corporation to make sure that your family is taken care of.
ESIC policies are backed by the government so they’re secure and reliable, unlike other private companies who may not be around tomorrow. If your company doesn’t offer this service then go online to find out how much it would cost you per year to get one!
What is employee state insurance corporation?
The employee state insurance corporation (ESIC) is an Indian government-owned general insurer. ESIC provides health and medical coverage to the employees under the Group Insurance Scheme (GIS). This scheme covers hospitalization, surgical treatment, maternity benefits and preventive healthcare for all.
What are the benefits of ESIC?
In order to protect their employees from the risks of injury, illness and death that may prevent them from working, many businesses opt for a type of insurance coverage called “employee state insurance corporation” or ESI. This is a form of disability insurance that provides protection against financial loss in the event an employee becomes sick, injured or dies. It also covers benefits such as medical expenses and rehabilitation costs related to the injury or illness.
In addition to these protections, there are other factors that must be considered when choosing an ESI plan for your business. Namely: how much will it cost? How long does it last? What coverage does it have? What about tax advantages? These questions can be answered by contacting our qualified agent.
What is health passbook by employee state insurance corporation?
Health Passbook by Employee State Insurance Corporation is a health plan for small and medium-sized businesses with 3 to 100 employees.
It’s designed to reduce the risks of running your company while ensuring that you provide quality coverage for your employees.
The Health Passbook by Employee State Insurance Corporation provides: – Dental, vision, and prescription drug coverage; – A wellness program; – Coverage for pre-existing conditions; and more. For more information on how this plan can help your business.
How to apply for a ESIC policy?
ESIC provides different types of schemes for individuals and groups. An individual can apply through one of the approved companies or by submitting an application directly to ESIC.
Following criteria to follow:
- Applicants must be Indian citizens
- At least 18 years old
- Valid ID card holder
- Proof of employment eligibility
- Evidence that they have paid their premium contributions or other applicable fees
The applicant will also need to provide information about his/her employer if they are applying on behalf of someone else. Once all documentation has been submitted, ESIC will review the request within eight weeks before issuing a response letter outlining any conditions that may require further.
Benefits of an ESIC policy
Does your company have an ESIC policy? If not, it is time to research the benefits of this type of insurance. Explore the advantages and disadvantages of ESIC policies so you can decide if they are right for your company.
- The most important thing to know about ESIC policies is that they help with medical expenses when employees get hurt on the job or contract work.
- They also provide death benefits which come in handy when a loved one passes away unexpectedly.
- One other benefit is that these types of policies do not discriminate against pre-existing conditions like some other types of coverage.
There are many more reasons why an employer should consider getting this type of insurance.
Disadvantage of an ESIC policy?
Some disadvantages of this policy include: higher premium costs, lower choice in providers, no coverage outside your country like the United States or India or other countries and higher deductible amounts.
Policies that are not covered by the state insurance corporation?
Do you know what insurance policies your company does not cover? If you are an employer, this is something that should be discussed with your employees. State laws do not require all employers to have the same set of benefits for their employees.
The state insurance corporation will insure certain types of health care services but it may not cover other types of care such as dental or mental health services.
If your company has a specific type of coverage in mind, make sure to discuss this with the appropriate personnel before hiring new staff members so they can make informed decisions about their benefits packages.
Types of policies available through ESIC
ESIC, or the Employers’ State Insurance Corporation, is an Indian government-owned company that provides social security and insurance services.
ESIC offers a variety of policies to both employers and employees in India: group medical, group life, maternity benefits (which can be purchased for self and spouse), accident coverage (which includes death due to accidental injuries at work), personal accident coverage (death from injury outside of work) among others.