Nippon Life India Asset Management announces Family Support Plan for employees

NAM announces family support plan

In the continued battle against COVID-19 Nippon Life India Asset Management (NAM) has become the latest company to launch a family support plan for its employees.

In order to alleviate the problems faced by the families of its employees, NAM has launched the Family Support Plan to provide financial assistance.

In the event of an employee’s demise, COVID-19 related or otherwise, NAM has promised several measures to help the impacted family both in terms of financial as well as emotional support.

In terms of financial assistance, the company  is willing to pay two-year’s worth of annual fixed pay in lumpsum to the family. The amount is subjected to a minimum of Rs 20 lakh. Additionally, the company is also building a corpus of Rs 2.50 lakh per child up to two children under the age of 21.

The company is also providing a job opportunity for the either the spouse or the child of the employee as per the person’s skill set or business requirement. NAM has also promised to cover the premium of any existing Mediclaim cover for the dependant family for the next 36 months.

Commenting on the announcement, Rajesh Derhgawen, CHRO of Nippon Life Asset Management said, “This is just a small effort from us to be there standing as NAM India Family with its employees families, in their most difficult times and offering a heartfelt thanks to our employees for having given their best to the organisation.”

“We want to stand by our employees and their families during these trying times by offering psychological and emotional support and nurturing a positive ecosystem. Further, while the COVID-19 outbreak led to the introduction of this Family Support Plan, this Plan covers all the unfortunate deaths for any medical reasons,” he added.