Why ULIP mis-selling has become rampant ?

Why is there so much mis-selling of ULIP? How to avoid this mis-selling? Who should take ULIP?

  • Last Updated : April 20, 2024, 10:37 IST
PMI declined to 48.1 in June from 50.8 in May.

As India continues its battle against Covid-19, automakers in the country have stepped forward to contribute and help in every possible way.

Toyota Kirloskar announces additional health benefits:

Auto major Toyota Kirloskar Motors(TKM)  announced comprehensive medical insurance for team members of up to Rs 11.5 lakh through an insurance partner for the treatment of Covid-19 related ailments. In the event of an unfortunate demise of an employee, TKM has started a participative scheme to provide compensation equivalent to around 3.5 years’ wages for workmen as per the employee category.

Bajaj Auto to fund education, pay salaries:

Recently, Bajaj Auto announced that it will continue to pay salaries for two years to the families of employees who succumb to Covid-19. The company will also fund the education of the children of the deceased employees. Medical insurance provided by the company will also be extended by five years for the deceased’s dependents which is in addition to the other life insurance benefits it offers.

“Payment of monthly salary of up to Rs 2 lakh per month for 24 months, education assistance for a maximum of two children of Rs 1 lakh per child per annum up to 12th standard and Rs 5 lakh per annum per child for graduation will be offered under the assistance policy,” Bajaj Auto said in a Linkedin post.

Mahindra & Mahindra’s vaccination drive:

Mahindra & Mahindra (M&M) announced that it will be covering Covid-19 vaccination expenses of all of its employees and their spouse. “The company will bear the cost of inoculation for our employees and their spouse, eligible as per the government guidelines. To further facilitate this on priority, we have partnered with hospitals at various locations,” M&M Human Resources Officer (Automotive and Farm sectors) Rajeshwar Tripathi noted.

So far, more than 90% of the eligible workforce, including temporary and contractual employees, above the age of 45 years has been vaccinated, he added.

Maruti Suzuki sets up a multi-specialty hospital:

Maruti Suzuki and Zydus have set up a new multi-specialty hospital in Gujarat with an initial capacity of 50 Covid beds (expandable to 100 beds). The Indian automaker invested a total of Rs 126 crore to set up the medical facility as a part of its CSR initiative.

Efforts by other automakers

MG Motor donated a dedicated Hector ambulance for Covid-19 patients in Gujarat. The automaker recently announced its partnership with MAX Ventilator to aid the production of ventilators.

Honda India’s CSR arm, Honda India Foundation (HIF), pledged Rs 6.5 crore to set up 100-covid bed facilities in Haryana, Rajasthan, Karnataka, Uttar Pradesh, and Gujarat. Honda India Foundation has also set up oxygen plants.

Published: May 25, 2021, 15:18 IST
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