LIC sold India’s largest group insurance policy to Infosys.

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Now a days more and more people apart from pay package also gives importance to medical and life insurance cover provided by their company and because of this most of the private Indian companies now provide adequate life insurance and medical insurance cover to their employees using group insurance schemes.

With Sum assured of Rs. 24,000 crore, Infosys is now India’s largest group insurance policy holder.

What started in 2002 , with a uniform cover of Rs. 10,000,00 to only 12,000 employee for Sum Assured of 1,791 crore.

With the renewal of this group insurance policy, it now covers 97,000 employee with Life and accident insurance cover from 30 Lac to 1 crore.

Insurance premium for the policy would be paid through Employee Welfare Trust of Infosys. Premium amount is not disclosed, however figure present on various websites point to Rs. 200 per month at the highest level per employee.

Infosys also provides adequate Medical Insurance cover to all employees.

Other IT companies like Wipro and Satyam too provides Group insurance cover to their employee.

In most cases insurance cover depends on Seniority.

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