Insurance Claim Cap

Insurance Claim Cap

I was informed by the insurance company that they needed to cap one of my colleague’s insurance claims as his previous year’s total claims were over the limit.

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Term Life Insurance Coverage

Term Life insurance Coverage

Question Hi HR professionals, Does your company purchase insurance for employees’ death? Currently if my employee passes on there is a payout of 36 times their monthly salary. I wonder if this is a common practice or is it above market? SS Reply 1 Yes we do get term life coverage for employees. But we 2 plans, for management staff 36x, all other employees 24x. Joycelyn Reply 2 Yes, we do have Term Life which is part of our Group Insurance for all our employees. Our payout is 12 times monthly salary. Rina Reply 3 We provide Term Life Insurance cover for all employees but cover 26 x basic salary. Grace Reply 4 Non mgr 24 mths. Mgr & Above 36 mths. CK Full Name* Job Title Organisation or Individual* Email Address* Contact Number* Subject* Your Message* </textarea>

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Medical Insurance Coverage For Dependents

Medical Insurance Coverage for Dependents

Question Dear all, What are your thoughts or practices for employees’ dependent medical coverage with company. Our policy is that the medical insurance is extended to the wife and children as long spouse is not working and covered by existing company medical insurance. What happens if we have a case where the dependent started working, insurance was terminated and because the wife works on contract, the employee requests for re-enrolment. Please advise. Thanks Isabel     Reply 1 Our company only has medical coverage for the spouse and dependents of foreign employees holding EP or S Pass. However, we will highlight to them that this is considered as an additional benefit and is taxable. Singaporean and SPR employees does not have this benefit. Reason being the medical cost of Singaporeans and SPRs are usually heavily subsidised by the government already. Joanna     Reply 2 A standard group H&S insurance can allow re-enrolment of the spouse coverage. That is not an issue on most cases. Ultimately it depends on whether your company HR-policy allow the re-enrolment in such scenario. The insurer usually will just comply with your instructions to add in the coverage. EI  

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