HRSINGAPORE Community Discussions

Group Insurance Policies

Question

Hi HR Professionals,

Our company is in the midst of reviewing our benefits and would appreciate sharing on your company Group Insurance Scheme for staff as well as other benefits. Our company has the followings :

- Term Life
- Personal Accident
- Hosptialisation and Surgical
- Major Medical Hospitalisation
- Work Injury
- Outpatient (covered by insurance)

- Dental $120 / year
- Annual leave 14 days (add 1 day for every 3 years service, max 18 days)
- Compassionate Leave - 3 days
- Exam Leave - 3 days for coy sponsored course
- Health Screening - 5 years service & abv 40 years old
- Winter Wear Reimbursement - S$200 once every 2 years

Greatly appreciate sharing.

Sue

Reply 1

Most companies' group insurance benefits are becoming a "supermarket". All benefits are in irregardless of needs.

For example Group Accident. Since there is Term Life coverage and Work Injury policies in place, I don't see why there is a need for Group Accident. Most of the citizen now have integrated shield plans, so there is no need for such a high cover for Group Hospitalisation. So the savings from there can go into some Outpatient cover for Specialist or extend basic Outpatient cover to dependents (spouse or children) of employees. As for Clothing wear reimbursement, I will rather go for Optical expense like buying a new pair of spectacles.

KS

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