Insurance
Medical and Life Insurance
Local Medical Insurance:
- Medical plans are determined according to the job class and job grade.
- Family coverage includes spouse and 2 dependents up to 22 Yrs. Old.
- If the employee requires to enroll extra spouse/dependents and/or dependents over 22 Yrs. old, the employee pays the full medical premium to be installed on monthly basis from his/her pay cheque.
- For reimbursement outside network medical, the claims must be approved from the medical insurance provider and is paid according to the medical provider contracted prices.
- The claim should include all relevant/supportive documents and if the claim is refused from the concerned party, no refund will be applicable.
Life Insurance
- Company-contracted employees are covered under a Life Insurance Policy.
- The coverage sum insured is 24 multiples of basic salary with minimum and maximum limits.
- Life insurance policy is renewed annually with a selected provider recommended by Head of HR based on quality of service and cost as per agreed Benefits and Cover Limits.
- Coverage includes:
- Normal death and Permanent Total Disability (PTD) at 100% indemnity from sum insured.
- Permanent Partial Disability (PPD): Percentage is determined according to the disability case which is pre agreed with the life insurance provider.
In case of death cases, the life indemnity is paid to the beneficiaries according to the official beneficiary statement after the legal confirmation.
