PUNE: Bajaj Finserv, a leading financial company announced a new comprehensive family assistance program to extend support and financial assistance to families of employees who have passed away due to the Covid-19 pandemic.
‘Together as One’ is an expression of Bajaj Finserv & its companies standing by its people in grieving times and supporting the families of deceased employees. This initiative is being rolled out across Bajaj Finserv and its companies – Bajaj Finance, Bajaj Allianz Life Insurance, Bajaj Allianz General Insurance, Bajaj Housing Finance, Bajaj Finserv Health, Bajaj Financial Securities, Bajaj Finserv Markets and Bajaj Holdings & Investment, with effect retrospectively, from April 1, 2020.
The program aims to support their children’s education till graduation, provide financial assistance to the family and provide for extended medical insurance coverage. It has been structured to cover employees across all levels at Bajaj Finserv and its companies, the company said.
Key features of the programme
- Financial assistance to families of deceased employees ranging from approximately 1.5 times to 3 times their annual salary. Fixed amount of Rs 100 lacs for senior employees
- Education assistance of up to Rs 2 lacs per annum, per child, for up to two children until their graduation
- Extended medical insurance for the family for 60 months
- Employment of spouse under our ‘spouse as a consultant’ program
Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv, said, “our people are not just employees but a part of the larger Bajaj family. It is unfortunate that we lost some of our own people to this pandemic. We resolve to stand by their families in these trying times, even in their absence.”
Ever since the pandemic hit the country, Bajaj Finserv has undertaken various initiatives to ensure their employees and their families stayed safe such as providing for screening and testing facilities, reimbursing vaccination costs of employees, associated staffs and their dependent family members, organizing for mental and physical wellness programs, facilitating on-call doctor support and medical emergency supplies for their workforce.
Besides ‘Together as One’, the Group has stood in solidarity with the nation against fighting this pandemic. It recently pledged an additional financial support of Rs. 200 Crore towards COVID-19 response in order to alleviate the immediate on-ground challenges as well as capability and resources to tackle a possible third wave. It also aided in the procurement of 12 Oxygen plants to provide over 5,000 LPM of oxygen supply to rural and urban hospitals, along with respiratory support equipment like oxygen concentrators, ventilators and BiPaps to help augment their capacity in treating COVID-19 patients.
On behalf of Bajaj Finserv and its companies, we remain committed towards extending all our support and care to the affected families and community at large to tide through this unprecedented crisis, the company said.