Employer Employee Insurance

What is Employer-Employee Insurance?

An Employer-Employee Insurance is a type of policy in which an employer purchases a life insurance policy and beneficiary for its employees. It means that the ownership of the policy is with the employer and the premiums are paid by the employer while the employee is the beneficiary of the policy.
This practice of group insurance policy is mostly followed by employers because it works as a tool to retain old employees, attract new employees & ensure the social security of their employees.

Benefits of Employer-Employee Insurance

For the Employer:

Enhanced Employee Loyalty

Employees feel valued and secure, leading to increased loyalty.

Reduced Attrition Rates

Implementing this scheme lowers employee turnover.

For the Employee:

Morale Boost

The insurance scheme acts as a reward program, boosting employee morale.

Exclusive Access

Employees alone have access to maturity proceeds.

Comprehensive Coverage

Protection against accidents, illness, disability, and premature death is provided.

Tax Benefits

For the Employees:

Free Family Security

Family members receive financial protection without any cost.

Tax Benefit under Section 80C

Tax benefits for employees as per Section 80C of the Income Tax Act.

Tax-Free Maturity Proceeds

Maturity proceeds from Group Term Life policies are tax-free under Section 10D.

For the Employers:

Premium Tax Exemption

Employers can seek tax exemption under Section 37(1) for premiums paid in an Employer-Employee plan.

Business Expense Benefits

Declaring premiums as business expenses brings monetary benefits to the company.

Attrition Rate Reduction

Corporate-sponsored employee insurance helps reduce long-term employee turnover, enhancing company loyalty and security.

Secure Your Workforce Today!

Empower your employees, protect your company, and enjoy tax benefits with JJ Capital's Employee-Employer Insurance. Let's build a secure and thriving future together.

BUILD A BETTER FUTURE NOW