Home >Companies >News >ICICI Lombard to give up to 2-month advance salary to COVID positive employees

In the wake of the rapid spread of the coronavirus disease, private sector non-life insurer ICICI Lombard on Saturday announced that it will give up to two months' gross salary in advance to all its COVID positive employees. The employees can pay back the advance in 6 or 12 monthly instalments at a later date.

The company also announced that it will reimburse medical infrastructure support expenses up to 10,000 per family member who are in home quarantine.

"Given the rapid transmission of the virus has imposed financial strain on a large section of the community, the insurer’s measure is expected to ease the burden for their employees. The individual can pay back the advance in 6 or 12 monthly instalments at a later date," the company statement said.

"The insurance company will also reimburse medical infrastructure support expenses up to a maximum of Rs.10,000/- per family member, arising from home quarantine in case of infected employees. The benefit also includes spouse, two children up to 25 years and dependent parents," it also said.

Earlier, the company had also announced to bear the vaccination cost for all its employees and their dependents. The insurer also stated that it is also tying up with healthcare facilities in the country to further facilitate the vaccine inoculation programme.

Further, the company is also providing a family floater cover of 4 lakh and corporate buffer of 3 lakh to support their employees and families during such trying times. This insurance cover includes the employee, spouse, two children (up to 25 years of age) and dependent parents, the company added.

The statement also said, "ICICI Lombard’s initiative, IL TakeCare app, is also expected to provide easy access to all COVID benefits by the company – assistance for vaccination, IL Hello Doctor (providing teleconsultation facilities with qualified doctors), online claims initiation and tracking, chat with experts (on topics such as nutrition, diet, etc.), immunity booster and health risk assessment."

(With inputs from agencies)

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