In a first of its kind initiative, Future Generali India Insurance (FGII) has launched Disability Income Protection insurance to provide financial security to its customers in the event of a disability. The primary objective of this policy is to help employers provide a financial safeguard to its employees against the risk of income loss, ensuring they can maintain their standard of living and meet essential expenses.
The Disability Income Protection insurance plan from FGII is a Group Health Insurance product which covers both temporary and permanent disabilities. These include both physical and mental illnesses that are diagnosed while being insured, physical injuries caused by accidents, and health impairments caused by unforeseen and exceptional events resulting in a total or partial loss of income.
Commenting on the launch of the new product, Mr. Ramit Goyal, Chief Distribution Officer, Future Generali India Insurance, said, “As a responsible insurer with DEI ingrained in our DNA, we are committed to being a lifetime partner to our customers, holding their hand through their journey. The onset of disability often brings substantial healthcare expenses, making comprehensive insurance coverage crucial to prevent social and financial decline. With this group insurance product, we are offering employers in India the opportunity to protect their employees from loss of income due to disability and financial hardship caused by the high costs of assistive services and outpatient care required to manage disabilities.”
Disability Income Protection plan, which can be offered as a part of employee benefits package by employers, is not only aimed at safeguarding employees against unforeseen health challenges leading to loss of income, but also underscores a company's commitment to enhancing the well-being and financial security of its workforce. This crucial support will go a long way in maintaining high levels of productivity and morale, fostering an environment where employees feel valued and secure. By integrating this product into existing employee benefit offerings, organizations can establish a robust safety net for their employees.
FGII aims to leverage its multi-channel distribution encompassing banks towards making this product available to employer-employees across the country. This product can also be offered by Financial institutions to its borrowers.
