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Confed insures all members

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CIOL Bureau
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CHENNAI, INDIA: In a first among IT associations in the country, Confed-ITTA has insured all its members under an accidental policy and cashless hospitalization. In all 1,732 people have been insured for Rs 59.19 crore under this scheme, which includes 660 members of Confed-ITTA across 13 associations that includes Coimbatore, Erode, Dindigul, Vellore, Trichy, Madurai, Salem, Tirunelveli, Tuticorin, Tirupur, Kaniyakumari, Nilgiris and Puducherry.

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Even though Confed proposed the policy that covered Rs 2 lakh under accidental insurance and cashless hospitalization up to Rs 50,000, a few members have opted for policies that would cover up to Rs 10.5 lakh.

In all there were 1,279 policies worth Rs 2.5 lakh, 407 policies worth Rs 5.5 lakh and 46 policies worth Rs 10.5 lakh.

“All members in Confed along with their employees are insured now. Rs 3.18 lakh was collected from the members including Rs 80,600 from Confed-ITTA. The association will renew the policies every year, as this is a general insurance unlike other insurance policies where the premium is paid for a certain number of years,” said K Babu, Coordinator for the insurance plan in Confed-ITTA.

When asked about the response that Confed got from its members for the scheme, Babu said that every member wanted to make some provision for their families in their absence and that’s why few people have gone for policies that are worth Rs 10.5 lakh.

Speaking on this achievement, S Karthikeyan, President, Confed-ITTA said, “It was a small step taken towards providing protection to partners. The ultimate aim of Confed-ITTA is to see that no partner fails. In the first step we have insured the lives of partners and in the coming years more steps would be taken to ensure welfare for the partners,” Karthikeyan said.

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