scorecardresearchInsurance: Redefining employee benefits a key driver for workplace inclusivity

Insurance: Redefining employee benefits a key driver for workplace inclusivity

Updated: 29 Jun 2023, 12:00 PM IST
TL;DR.

  • The change, monumental as it may be, requires a simple, compassionate tweak. The employer merely needs to include a relevant clause in the insurance policy - a clause that speaks volumes of acceptance and equality.

Traditionally, employee insurance benefits have been heteronormative, primarily catering to the nuclear family structure.

Traditionally, employee insurance benefits have been heteronormative, primarily catering to the nuclear family structure.

In today’s world, diversity and inclusivity in the workplace have become paramount. Companies are continuously striving to create environments where everyone, regardless of their sexual orientation or lifestyle choices, feels welcome and equally valued. A key part of this journey towards inclusivity involves redefining employee benefits, including insurance policies.

Traditionally, employee insurance benefits have been heteronormative, primarily catering to the nuclear family structure. However, the world is quickly changing, and it's high time our insurance policies mirror this societal progression. One such step in the right direction is ensuring that group insurance policies do not discriminate based on an individual's sexual preferences or lifestyle choices.

Picture a world where your insurance policy does not pass judgement based on your sexual preferences or lifestyle choices. A world where partners of LGBTQ+ employees can also stand under the umbrella of employer-offered insurance benefits, shielded from life's unpredicted rains. It seems like a far-fetched dream, doesn't it? Yet, it's gradually becoming our reality.

This change, monumental as it may be, requires a simple, compassionate tweak. The employer merely needs to include a relevant clause in the insurance policy - a clause that speaks volumes of acceptance and equality. And the most remarkable part of this alteration? No extra charges are levied for this inclusivity.

Imagine Sarah, an LGBTQ+ employee who no longer needs to worry if her partner can avail the same insurance benefits as her colleagues' spouses. Or consider Mehul, living in a committed relationship without the societal stamp of marriage, knowing he can still list his partner as a valid beneficiary. This newfound security, devoid of the burden of additional expenses, kindles a sense of belonging in employees like Sarah and Mike. It sends a clear message that their lifestyle choices and unique relationships are not only acknowledged but respected.

Inclusivity in insurance policies is not a mere handout to employees, it’s a win-win situation for all. For organizations, it serves as a beacon, attracting diverse talent from far and wide. When companies advocate for inclusive insurance benefits, they create a tapestry of diversity, interspersed with motivated individuals who feel seen, valued, and cared for.

Beyond individual companies, this shift contributes to a grander narrative - the democratization of insurance access. It breaks down the fortress of traditional barriers, allowing a wider range of individuals to bask in the security that insurance offers. It paves the way towards reducing disparities in insurance coverage, especially among marginalised communities.

Our story concludes on a hopeful note, with a vision of the future where insurance is not dictated by marital status or sexual orientation. A future where everyone, whether you're LGBTQ+ or in a committed relationship without the bonds of marriage, can have an insurance policy that echoes their needs.

This journey of evolution and acceptance in the insurance realm is more than just policy amendments; it's an emblem of societal progression. It narrates a tale of change and hope, where the insurance landscape is as diverse, inclusive, and accepting as the world it seeks to protect. The future of insurance is here, and it's written in the language of inclusivity and love.

 

Kinshuk Chaturvedi is the VP of retention & operations at Pazcare. He has 12+ years of experience working with organisations like Bridgestone India, Smart Living Retail, and Clear.

Article
Life insurance is a contract between a policyholder and insurer.
First Published: 29 Jun 2023, 12:00 PM IST