HRSINGAPORE Community Discussions

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


POST YOUR MESSAGE TO THE HR COMMUNITY BELOW






Full Name*

Job Title

Organisation or Individual*

Email Address*

Contact Number*

Subject*

Your Message*

STILL NOT SURE? CALL US

(65) 6337-8016 or 6338-5816, 9 am to 5 pm, Mondays to Fridays

Guidelines

• We have the sole discretion in determining which messages or notes are appropriate, and editing and excluding any messages or notes.

• As your messages will be seen by others, please refrain from posting messages that you can be held legally liable for.

• We are committed to protecting our members from spam or unsolicited e-mail and we will remove and ban subscribers who propagate spam and those involved in harvesting activities. If you receive a spam message from a subscriber, forward the message to us.