MyBenefits@Philips

2022-2023
Employee Guide
 MyBenefits@Philips program has three elements-
Introduction to Core Benefits, Optional Benefits & Default Benefits

MyBenefits@Philips Core Benefits: These are mandatory minimum level of benefits offered by Philips
What is MyBenefits@Philips?
• Medical Insurance – INR 300,000 for • For employees joined before 31st March
MyBenefits@Philips, is the Flexible Benefits Program, launched Employee only 2022, benefits which were opted in the
in 2019 as part of our employee health and benefits offering. • Personal Accident Insurance – Grade- wise previous year will act as default cover
ranging from INR 900,000 to INR 10,000,000 however, for employees who have
• Life Insurance - 36 months’ total fixed joined after 31stMarch 2022 default
Traditionally, your benefits package was fixed and did not take salary with a minimum ofINR 2,000,000 cover will be E +S+2C - 500,000
into account different lifestyles and family circumstances. and a maximum of INR 60,000,000. The • In case any employee does not participate
MyBenefits@Philips gives you greater flexibility and choice, policy features of the existing Insurance in the enrollment process, he/she will stay
by providing you the freedom to design your personal benefits Benefits (Medical/Accident/Life) in the plan opted in the previous year.
package with your unique needs in mind. The new benefit year continue to be the same under the
will run from 1stApril 2022 to 31st March 2023. If you are a MyBenefits@ Philips.
new hire enrolling post 1st April 2022 your coverage will begin
from your joining date with Philips till 31st March 2023.

Optional benefits
They’re your benefits – make the most of them. These are combination of Insurance and Flexi cash benefits.
MyBenefits@Philips allows you to choose a mix Insurance Benefits consist of voluntary plan enhancement and
of benefits that best suit you and your family’s needs. multiple top up options. Flexi cash benefits consist of fitness,
health & wellness, learning & development related plans.

Each employee is protected with a core benefit to avoid

erroneous selection. Over and above this, each employee is
given flex points. Employees can then select various levels of Under the program
coverage from the various options to suit their individual • Select your benefit options by utilizing your flex points. You may also exceed your allocated
needs, using the allocated flex points. flex points for insured benefits by opting for payroll deduction
• Opt for optional benefits from the defined catalogue
• For Group Medical Insurance, a two year rolling lock-in was introduced from 2020 onwards.
During the lock-in period, employees can only select higher level plans. Upon completion of lock-in
Over and above each employee will receive 22,500 flex points. period, they may move down by up to two levels of Sum Insured
You can choose how to spend those flex points. These will be
prorated for new hires from your date of joining. 1Point = 1INR
Summary of the flex plan benefits

Benefit type Flex plan (summary)

Group Medical • Employee has the option to modify the current plan. For Group Medical Insurance, a two
year rolling lock-in was introduced from 2020 onwards. During the lock-in period,
employees can only select higher level plans. Upon completion of lock-in period, they
may move down by up to two levels of the Sum Insured
• Out-patient department (OPD) options for out patient expenses
• Policy terms remain same as last year
What is fiexed
• Option to choose a higher plan
• Additional modules for enhanced terms

Group Accident No Change- Current base plan remains as is What is flexed

• Top up options to increase accident cover
• Spouse cover against accidental death and disability

Group Term Life Current base plan cover has been increased from 24 New
months of base salary to 36 months of base salary
What is flexed
• Top up options to increase life insurance cover
• Spouse coverage against death
Accelerated Critical Illness(CI) What is flexed - Employee can buy CI cover for 500,000 and 1,000,000 (E only) against 11
defined critical illnesses

Optional Flexi Cash Benefits No Change- Crèche Fees, Child Adoption, Marriage Gift, Child Birth Gift, Leave & others
What is flexed –
• Optional products/ services related to health and wellness, fitness, lifestyle and
learning and development etc.
• These can be selected/ utilized through the year depending on employees’
convenience.
• Incase the points are not utilized; they will lapse and will not be carried forward
to next year
How MyBenefits@Philips works?

Core benefits and fiex points Spending via fiex points allocation Flex points at the time of
• Each employee is protected with a / salary contribution exit from Philips
core benefit to avoid erroneous • Flex points need to be first allocated towards • The allocation of 22,500 flex points is for
selection. insurance benefits during the enrollment window, to the entire financial year. In the event of
• In addition to the core benefits, Philips ensure that employees have selected appropriate exit from Philips (not applicable to inter
will provide all eligible employees 22,500 insurance cover for self and family. Refer to the entity transfers within India), during the
flex points at the beginning of the policy enrollment section to know more about enrollment year, the entitlement of flex points will
year i.e. 1stApril 2022 and valid till 31st process. be prorated:
March 2023 • Employee can choose to allocate the remaining flex • Pro-rated employee contributed
• Flex points can be used to avail additional points under optional/flexi cash benefits. premium in case of no-claims will be
and optional benefits • If the cost of insurance benefits selection exceeds refunded in the F&F settlement of the
• Each flex point is equivalent to INR 1. the eligible flex points, the excess will be funded employee at the time of exit.
• Flex point allocation for new hires, during through salary contribution via payroll. • All unused flex points will lapse on the
the first year, will be prorated based on • The excess will be deducted from April and May exit date & no encashment will be
the number of months left in the calendar (month) payroll. allowed.
year. • For new hires, deduction will take place in the payroll
• •Unused flex points will lapse at the end cycle following the enrollment month.
of the year and cannot be encashed. • Salary contribution can be used to buy insurance
benefits only.
• Flexi Cash benefits cannot be purchased using salary
contribution as the employee can pay for these
benefits directly. Refer to the claim process to know
more details.

What else do I need to know?

Please read complete list of benefits as well as related terms and conditions on the MyBenefits@Philips portal, before making your selections. The portal displays
all available benefit options along with a cost involved to help you make a better benefit choice.
What are the tax implications of my
contributions?

If you exhaust company provided points and purchase additional

covers/ increased sum insured limits, respective additional premium
amount would be deducted from your post-tax salary. Your
contributed premium includes Goods and Services Tax (GST)@ 18%.

You can avail income tax benefits on your contribution of premium

payments as per the following income tax sections:

• Medical: Self, Spouse, Children and Parents under section

80D.(Parent-in-law selection is not eligible for a tax rebate
under section 80D). Benefit options
• Flex Modules and OPD Plans under section 80D.
You need to take action and design your benefits the way you want it, by
• Life: Self and spouse under section 80C.
enrolling on MyBenefits@Philips portal within the annual enrollment window.
• Critical Illness: self under section80C.
In case you do not visit the portal, your last year’s benefits will continue and
• Personal Accident: self & spouse - no income tax benefit. salary deductions will be done as applicable.
• Some of the Flexi cash benefits will attract perquisite tax and
will be deducted from your salary.
Insurance benefits Flexi Cash benefits
• Form 16:Will be updated accordingly to reflect the above-
mentioned purchases. • Medical Insurance • Fitness related
• Flex Plus Plan • Learning & Development
• Outpatient Plans (OPD) • Lifestyle related
• Term Life
• Term Life for Spouse
• Critical Illness
• Personal Accident
• Personal Accident for Spouse
Medical Insurance Multiple plan options to choose from
The medical plan provides Flex Points/ Salary
insurance benefits to pay for Plan Plan Identifier Sum Insured Contribution
hospitalization care, if you or Med-GHC - E - 3L 300,000 0
Core Benefit
your declared dependent family
members become sick, or get Plan 2 Med-GHC- E - 5L 500,000 1842
injured and are hospitalized for
Med-GHC - ES - 5L 500,000 8432
a period of 24 hours or more Plan 3
with an active line of treatment. Med-GHC -ESC - 5L 500,000 9929
Default Plan

Plan 5 Med-GHC -ESC - 7.5L 750,000 18515

MyBenefits@Philips offers you a Med-GHC - EP/P' - 5L (3L) 500,000 27897

Plan 6
choice of medical plans with a
range of coverage levels and Plan 7 Med-GHC - EP/P' - 7.5L 750,000 36574
costs and option to cover
Med-GHC - EP/P' - 10L 1,000,000 51164
different family members, so that Plan 8
you can have the flexibility to Med-GHC - ESCP/P' - 5L (3L) 500,000 48228
Plan 9
select options that are bespoke
for you for treatment taken in Plan 10 Med-GHC -ESCP/P' - 7.5L 750,000 58674
India.
Plan 11 Med-GHC -ESCP/P' - 10L 1,000,000 71767

Plan 12 Med-GHC -ESCPP' - 7.5L 750,000 95559

Plan 13 Med-GHC -ESCPP' - 10L 1,000,000 113129

Plan 14 Med-GHC -ESCPP' - 15L 1,500,000 161277

E = Employee, S= Spouse, C = Child, P = Parents, PIL = Parent-in-law

* Employee can include both parents and parents-in-law together under plan 12 , 13 and 14 only

For Group Medical Insurance, a two year rolling lock-in was introduced from 2020 onwards. During
the lock-in period, employees can only select higher level plans. Upon completion of lock-in
period, they may move down by up to two levels of the Sum Insured
Take a look at what is covered in your medical plan!
Service providers Hospitalization expenses Day care treatment
Who is our Insurance Company for Group The Mediclaim plan offers comprehensive Certain treatments or procedures like Dialysis,
Medical Cover? coverage against most of the illness Chemotherapy, Radiotherapy, Eye Surgery,
The HDFC ERGO General Insurance and accident related hospitalization emergencies Tonsillectomy etc. taken in the
Company that you may face during the course of your Hospital/Nursing Home wherein the insured is
employment. The Mediclaim policy stipulates not required to stay for 24hrs and is discharged
Who is our Third Party Administrator (TPA) that a claim is admissible only when the insured on the same day, fall under the category of
Who will administer my claims? (beneficiary) is admitted in a hospital for a “Day Care Treatments” Such treatments are
In-house TPA - HDFC Ergo Health Claims minimum of 24 hours for the treatment of a also covered under the cashless
Services positive illness. hospitalization expenses plan. Please note
that these treatments will have to be
necessarily availed as an in-patient treatment
only. Please refer to our list of
approved Day Care treatments, provided on the
employee portal

Pre & post hospitalization Room rent eligibility Maternity expenses

expenses Normal & ICU charges on actual basis, Maternity benefit for Employee/Spouse for
Relevant and related medicalexpenses however highest category is single AC Pvt first 2 deliveries in the insured lifespan
incurred during period up to room. Room should not be classified as • Metro: INR 75,000 for Normal & C-
30 days prior to hospitalization “deluxe/suite/executive” etc. Sec
(PreHospitalization), and the relevant medical • Non-Metro: INR 50,000 for Normal & C-
expenses incurred up to 60 days after section
hospitalization are also payable (Post • Definition of Metro Cities: Gurgaon, New
Hospitalization). Not applicable for Maternity Delhi, Mumbai, Kolkata, Ahmedabad,
claims. Noida, Bangalore, Pune (Chakan &
Pimpri), Chennai &Hyderabad
 Take a look at what is covered in your medical plan!

Child coverage Ambulance charges Disease Sub-limits

Pre and post-natal New born baby coverage from Payable up to 1% of Sum • Cyber knife treatments: 50%co-pay
expenses day one within family floater Insured subject to max up to • Stem cell treatment: 50%co-pay
sum insured INR 2,000 per claim for • Cochlear transplant: 50% ofSum
Pre and Post Natal expenses and
insured’s transportation to Insured
baby expenses up to INR 2,500
nearest hospital on physician • Functional endoscopic sinus
within
advice surgery: INR35,000
Maternity limit
• Alternative modes of
(Pre-natal period would mean
treatment including Ayurvedic,
period during pregnancy from
homeopathy and similar such
conception till birth and post-natal
recognized treatments to be
would mean up to six weeks from
restricted to 25% of sum
date of birth)
insured. Claims to be processed
as per Ministry of Ayush 2016
Guidelines.

Day care surgeries Dental treatment Mental health coverage

No deduction in case of death
Surgeries/procedures which do
during hospitalization Dental treatment covered on Mental illnesses (bi-polar
not require 24 hours of OPD basis up to INR 15,000 per disorder, anxiety, depression)
hospitalization. The list of family per year as per flex plan for IPD
procedures is attached
definition. Cost of bridge not
covered, cosmetic treatment not
covered, gold silver capping not
covered
Take a look at what is covered What is covered?
in your medical plan! • Room & Boarding and ICU
• Doctor fees, nursing expenses, consultant specialist fees
• Dialysis done on IPD/OPD or even at Home
• Anesthesia, blood, oxygen, operation theatre charges,
• Congenital external in case of life threatening
surgical appliances, medicines, drugs, diagnostic
situation
materials & X-ray etc.
• Administration of Rituximab/similar drugs either on • Ambulance charges – Up to 1% of sum insured subject to
stand alone basis or along with other drugs covered max. INR 2,000 per claim for insured’s transportation to
on day care basis. nearest hospital on physician’s advice
• The employee can avail cashless as well as
reimbursement facility
• Cataract would be capped at INR 50K per eye.
• Employees would not be allowed to claim for Total
Knee Replacement or Total Hip Replacement for
their parents/in laws in 1styear of coming into the
policy unless it is an accidental case. Employees
whose parents/in-laws are already a part of policy
can claim
What is not covered?
• Total Knee Replacement for parents would be • Registration Fees, Service Charges, File opening fees
capped as per below limits • Telephone, Internet charges and other non-medical
• Single Knee - INR 150,000 | Both Knees – INR charges
250,000. Cost of implant is not included in the • Food and refreshments supplied to visitors and attendants
limit above and is payable separately • Television charges
• Any other expenses not related to treatment of illness
• Charges paid to organ donors
• Please read the policy document for more information or
write to [email protected] for more information.
Eligible Dependents
1.Employee (Self)

2.Spouse - Legally married to the employee. Spouse may include live-in partners of
the opposite sex as per the corporate policy of Philips. Spouse to also include legal
guardian of adopted kids

3.Children – 2 children between Day1 and 25 years of age, unmarried and must
be dependent on employee for financial support, are eligible. Children
definition also covers legally adopted.

4.Parents - Dependent parents or parents-in law. Cross selection of 1parent and 1

parent-in-law is not applicable under plans 6to 11.This is possible if the employee has
declared the other parent and parent-in-law as deceased on the tool. Employee
can include both parents and parents-in-law together under plan 12, 13 and 14
only.

5.LGBT (Lesbian, Gay, Bi-sexual, Transgender) - Employees are eligible to cover

their partners (married or unmarried) as dependents.

6.Live in Partners - Employees are eligible to cover their live in partners as

defined by Indian Law

What will you pay for

Medical Coverage?
As you enroll on MyBenefits@Philips, you
will clearly see price displayed for each of the
benefit options. You can make comparisons,
then buy the ones you want. It’s that easy!
Flex plus modules
You can choose to make your medical plan more robust by buying these Flex Plus Modules. These modules will get plugged-in as part of the base medical
plan under the eligible sum insured. These plans can be added to the base medical plan by using Flex points or salary contribution. Flex points required for
buying these plans will depend on the family structures covered under the base plan. Please note that the dependents covered by you under the Medical
Insurance Plan will be eligible for these plans.

Lifestyle care plan

Coverage Flex points

• Rehabilitation services - All expenses related to rehabilitation of an employee following

a major illness/ injury/ medical condition as prescribed by the treating doctor (Employee
E only – 3115
only)
ES, ESC – 6490
• All forms of cancer treatment - All forms of Cancer treatment taken on IPD through any EP, ESCP/P’, ESCPP’ – 14278
conventional/non-conventional cancer treatments taken on hospitalization/day care
basis. Treatments not listed under day care list of insurer are to be included in day care
list. This Includes adjuvant/ neoadjuvant cancer treatments including but not limited
to immunotherapy/ hormone therapy/ other palliative & supportive treatments.
OPD treatment payable through pre & post hospitalization within full sum insured
• Prosthetic devices upto full sum insured limit - Covered, following major accident/injury or
when member is not able to carry out activities of daily living without the use of prosthetics/
medical aids. Must be prescribed by doctor within full sum insured
• Bariatric Surgery - Upto full sum insured limit for BMI greater then/equal to 36
• Organ Donor - Coverage for hospitalization expenses (excluding cost of organ) incurred
on the donor during the course of organ transplant to the insured person within full sum
insured
• In case of continuous hospitalization for beyond 10 days a daily cash benefit of INR 1,000
for maximum 30 Days will be paid to Employee only within the sum insured limit
Children care plan
Coverage Flex points
• Autism Care - Cover to be applicable only in case ESC – 9605
of children who have been diagnosed with ASD
by a registered medical practitioner with either of ESCP - 9605
following qualifications Child neurologist/ child
psychologist or psychiatrist/developmental
pediatrician. Applicable for treatments like ESCP/P’ – 9605
behavior management/modification therapy/
medication/speech/occupational and physical
therapies for child alone within full sum insured
• Well baby expenses - Upto INR 5,000 over
maternity limit
• External Congenital Anomalies - In-Patient
Treatment (IPD) within full sum insured
• Vaccinations up to age 14as approved by WHO
up to INR 2,000 per vaccination overall cap of
INR 10,000
• Treatment for Genetic disorders - In-Patient
Treatment (IPD) maximum upto sum Women care plan
insured
Coverage Flex points
• Cervical Cancer Vaccination – INR 10,000 E only - 3894
• Pregnancy Care program
• Infertility treatment for up to INR 100,000 on both ES, ESC - 7788
OPD and IPD basis. Basis Doctor’ advice, the
treatment would cover Male members also. EP, ESCP/P’, ESCPP’ -
• IVF/IUI and other assisted methods of 7788
reproduction- for both Male and Female
members on OPD and IPD basis up to INR
75,000 within full sum insured
• Maternity Plus - Additional INR 25,000 over base
maternity cover within SI
• Surrogacy - Cost of delivery covered within
maternity limit
Advance care plan
Coverage Flex points
• Keratoconus Treatment up to INR 22,000. E only - 3634 What will you pay for
Progressive thinning of cornea, treatment for same to be the Flex plus modules?
covered on day care basis irrespective of etiology. ES, ESC - 3634
As you enroll on MyBenefits@Philips, you will clearly see the
• Age Related Macular Degeneration (ARMD) - Up to INR price displayed for the plan options. You can then choose to buy
EP, ESCP/P’, ESCPP’
100,000 full treatment cost. Covers treatment of age related this plan with your flex points or through salary deduction. It’s that
- 9086
macular degeneration to be covered on daycare basis. These easy!
would include (but not limited to) intravitreal injections You will also be eligible for a tax rebate under section 80D for the
(Avastin & Lucentis injections) & corrective surgeries. premium portion paid through salary deduction.
You can opt for one or more than one flex plus plans at a time.
• Expensive Diagnostics - INR 15,000 per family (Standalone
major investigations like CT, MRI, EEG, Biopsy etc. as prescribed
by Doctor & not restricted to investigations mentioned) when
there is less than 24 hrs hospitalization.
• Lasik Surgery for power more than + / - 5 within full sum
insured
• Healthcare at Home - Domiciliary within full sum insured;
Coverage for medical treatment for an illness/disease/injury
which in the normal course would require care and treatment
at a hospital but is actually taken while confined at home
under any of the following circumstances:
• The treatment is beyond 3 days.
• The condition of the patient is such that he/she is not in a
condition to be removed to a hospital
•The patient takes treatment at home on account of non-
availability of room in a hospital
Elder care plan
Any employee can avail for this plan irrespective of their choice of family structure
Coverage Flex points

• Elder care facility 531

• Wellness Platform 24X7
• Doctor Consultation : MBBS doctor 12 tele - consultation
• 24X7 care helpline
• Elderly care helpline for inbound calls
• Storage electronic health records
• Discounts on medicines, nursing, physiotherapy, medical equipment rentals, doctor home visits etc
OPD Plans
OPD Cover is a specially designed insurance cover Plan Identifier Med- Med- Med- Med- Med-
for out-patient treatment expenses that includes OPD- OPD- OPD- OPD- OPD-
consultations, prescribed diagnostics, Dental and Plan 1 Plan 2 Plan 3 Plan 4 Plan 5
Vision expenses.
Sum Insured
INR 15,000 INR 20,000 INR 30,000 INR 50,000 INR 80,000
This plan can be bought over and above the medical
plans to take care of day to day outpatient expenses Flex Points
which typically do not get covered under the 9664 13939 21683 32214 61331
medical plan.
Doctor Consultations (General Up to full sum insured
Physician, Specialist, Super
Note: Specialist)
• Above medical enhancements are available at
competitive prices. One OPD plan can be opted for at Prescribe diagnostics, Up to full sum insured
a time. preventive measures
• Dental treatment is currently covered under the base
plan up to INR 15,000 per family per year including
parent and In-Laws. Dental- Dental Examination / Up to full sum insured
• Dental limit under OPD will enhance the existing limit Scaling and Polishing / X-ray
for employee, spouse and children. Cost of bridge, / Fluoride Treatment / Filling
cosmetic treatment, gold/silver capping not covered. / Prophylaxis / Root Canal
• OPD plans cover out-patient expenses for ESC only Treatment / Extractions / Oral
Surgery / Re-cementation /
Medication / Restoration /
What will you pay for the Crowning / Implant / Braces*
OPD Plans?
Vision- Prescription lens/ Vision Up to full sum insured
As you enroll on MyBenefits@Philips, you will
check-up done by optometrist /
clearly see the costs displayed for the plan options.
optician*
You can then choose to buy this plan with your Flex
points or through salary deduction. It’s that easy!
You will also be eligible for a tax rebate under Pharmacy (Prescribed drugsonly) Covered up to 50% of the sum insured amount
section 80D for the premium portion paid through
salary deduction
Refer to the Terms & Conditions on the MyBenefits@Philips portal
 Plan options:
Term life insurance Plan Identifier No Top up GTL - Top GTL - Top GTL - Top up -
It’s important to plan for your family’s financial security in up - 1XBase up - 2XBase 3 XBase Salary
case the unexpected happens. That’s why Philips provides Salary Salary
basic Term Life Plan. This plan provides financial support to
an employee’s family in case of an unfortunate event leading
to the demise of the covered employee. It is a 24x7 Overall Sum 3 x Annual Salary 4 x Annual Base 5 x Annual Base 6 x Annual Base
worldwide cover. Assured Default Plan Salary Salary Salary
In the event of death of a member from any cause Rate per mille
(natural/accidental), an amount determined in accordance 1.14
with the Policy Schedule shall be paid to the nominated
beneficiaries. *Salary is the base salary as visible in workday
Core/Default Plan: 36 months’ total fixed salary with a
minimum of INR 2,000,000 and a maximum of INR Do I need to go for a medical When does the Terminal Illness (TI) Plan
60,000,000 with Accelerated Terminal Illness benefit of check-up? trigger?
INR 5,000,000.
The Free Cover Limit (FCL) offered under this The terminal illness benefit is payable if the insured
Salary is the base salary as visible in workday. plan is INR 43,200,000 for PIL, INR 41,300,000 member becomes terminally ill. The insured member is
You can choose to: for GBS employees & 17,800,000 for VHS considered to be terminally ill only if it has been
employees. Employees whose proposed sum conclusively diagnosed, by a medical practitioner
• Keep this plan with no changes
assured is higher than the Free Cover Limit will recognized by the appointed by the insurance company
• Opt for Top-Up plans through flex points or salary deduction
have to undergo medical tests and provide that the member is suffering from an illness which is
evidence of insurability, satisfactory to the expected to result in death within six months. The sum
Insurer Name: Bajaj Allianz Life Insurance insurance company. Until completion of paid out would be the sum assured in the Group Term
medical underwriting process, the members Life Insurance or a minimum of INR 5,000,000. The
sum assured will be limited up to the above amount can be utilized for any financial help required.
specified FCL limits The balance amount is paid after death.

What will you pay for the Term Life How is the premium calculated?
Top Up Plan? Premium calculation formula = (Rate per mille *
As you enroll on MyBenefits@Philips, you will Sum Insured) / 1000 e.g. for a Sum Insured of INR
clearly see the costs displayed for the plan 6,00,000 the premium would be = (1.14 x INR
options. You can then choose to buy this plan 600,000) /1000 = INR 680 per annum
with your flex points or through salary deduction.
It’s that easy!
Life cover for spouse
Life Insurance for spouse provides the opportunity for individuals to purchase term life insurance protection for his or her spouse or
partner. This is an optional benefit and can be bought by using flex points or through salary deduction.

In the event of death of a member from any cause (natural/accidental), an amount determined in accordance with the Policy Schedule
shall be paid to the nominated beneficiaries.

Plan Identifier GTL - Spouse GTL - Spouse GTL - Spouse GTL - Spouse GTL - Spouse
10 Lac 20 Lac 30 Lac 40 Lac 50 Lac
Sum Insured INR 1,000,000 INR 2,000,000 INR 3,000,000 INR 4,000,000 INR 5,000,000

Flex Points/Rate 2390 4780 7170 9560 11950

Rate per mille 2.39

t

Will my spouse have to undergo medical underwriting?

Your spouse will have to undergo medical underwriting or fill up relevant
medical questionnaires before acceptance of coverage.

What will you pay for the spouse term life plan?
As you enroll on MyBenefits@Philips, you will clearly see the costs
displayed for the plan options. You can then choose to buy this plan
with your flex points or through salary deduction. It’s that easy!

How is the premium calculated?

Premium calculation formula =(Rate per mille * Sum Insured) / 1000
e.g. for a Sum Insured of INR 50,00,000 the premium
would be = (2.39 x INR 5,000,000) /1000= INR 11,950 per annum
Accelerated critical illness cover (Optional Plan Identifier GTL - CI Rider 5 Lac GTL - CI Rider 10 Lac
rider with term life plan)
Sum Insured INR 500,000 INR 1,000,000
When a serious illness strikes, Critical Illness insurance can provide
financial support to help you through a difficult time. It protects
against the financial impact of certain illnesses, such as a heart Employee Only 714 1428
attack, cancer, stroke, a total of 11listed illnesses.
Accelerated Critical Illness Sum Insured must not
1. Cancer of specified severity exceed Basic Term Life Plan Sum Assured
2. First heart attack of specified severity
3. Open chest CABG Waiting period:
4. Kidney failure requiring regular dialysis A waiting period of 90 days will apply for Accelerated Critical Illness claim.
5. Stroke resulting in permanent symptoms Waiting Period means the benefits under the Policy shall be payable only if the
6. Major organ /bone marrow transplant Insured is first diagnosed as suffering from a defined Critical Illness after 90 days
7. Permanent paralysis of limbs of the commencement of the Policy Period and the Insured has not previously
8. Multiple sclerosis with persisting symptoms been Insured continuously and without interruption under a Critical Illness
9. Aortic surgery Insurance Policy.
10. Primary pulmonary hypertension
Survival period:
11. Alzheimer’s disease
A survival period of 28 days will apply for Accelerated Critical Illness claim.
Survival Period means the benefits under the Policy shall be payable only
You receive a lump sum benefit to cover out of pocket
if the Insured is first diagnosed as suffering from a defined Critical Illness
expenses for your treatment, to take care of your
during the Policy Period, and the Insured survives for at least 28 days
everyday living expenses.
following such diagnosis and/or also subject to survival of the Insured for
Benefits are paid in addition to what your medical plan
the minimum assessment periods for covered Critical Illnesses as provided
provides and are payable regardless of any other insurance
under the descriptions for each of the Critical Illness.
plans you may have. This covers employee only and is a rider
added to a life insurance policy to protect the insured against
financial loss in the event of a
critical illness.

What will you pay for the critical illness plan?

A critical illness rider makes living benefits payable to the
insured for medical expenses prior to death. As you enroll on MyBenefits@Philips, you will clearly see the costs
displayed for the plan options. You can then choose to buy this plan
with your Flex points or through salary deduction. It’s that easy!
 Employee grade Sum insured per employee (INR)
Personal accident insurance
Accident insurance helps protect you from
unexpected financial stress if you or a covered
EL Grade 10000000
family member has an accident. By providing 90 9000000
cash benefits in cases of accidental injuries and
disability, it supplements your primary medical 80 8000000
plan.
70 8000000
Benefits are paid regardless of any other insurance
60 7000000
plans you may have. You will be able to elect
coverage for yourself during Open enrollment 50 4000000
regardless of prior health history.The cover is
worldwide but payment of claim can only be 40 & 45 2000000
made in India and in Indian Rupees.
30 2000000
20 1200000
Personal accident insurance
You can choose to:
• Accidental Death
• Permanent total disability • Keep this plan with no changes
• Permanent partial disability • Opt for Top Up plans through Flex points or salary deduction
• Temporary total disability
Plan GPA - GPA - GPA - GPA - GPA -
Insurer: HDFC Ergo Identifier Top Up - Top Up - Top Up - Top Up - Top Up -
Core / Default Plan: As per grade ranging Employee Employee Employee Employee Employee
from INR 900,000 to INR 10,000,000 10 Lac 20 Lac 30 Lac 40 Lac 50 Lac

Sum Insured INR 1,000,000 INR 2,000,000 INR 3,000,000 INR 4,000,000 INR 5,000,000

Flex Points/
142 283 425 566 708
Rate
Rate per 0.1416
mille
What are the coverages
• Accidental Death: 100% of current employee sum insured
• Dismemberment: 100% of current employee sum insured
• Permanent Total Disability: 100% of current employee sum insured
• Permanent Partial Disability: As per chart

Description of Benefit Benefit Description of Benefit Benefit

(% of CSI) (% of CSI)
Death 100 Permanent rigidity of a hip joint or knee joint 100
Incurable insanity &/or alienation of mind 100
Complete paralysis of the body 100 Removal of lower jaw by surgical operation 100
Permanent total loss of sight of both eyes. 100 necessitated by bodily injury as defined in the Policy.

Loss of both Arms at or above the wrist or loss of both legs a 100 Permanently impaired usefulness of leg resulting
or above the ankle or permanent total loss of use of both from
arms OR both legs.
Permanent total disability other than as described in 100 • fractured leg or foot 20
items 1to 5 above. • fractured knee cap 10
Loss of one limb or loss of sight of one eye. 50 • shortening by at least five centimeters 15
Permanent total deafness of both ears. 50 Physical loss or disablement not provided for
above a benefit determined by reference to the
Permanent total deafness in one ear. 50 percentages mentioned in this schedule.
Total Loss of Permanent Total loss of use of Right Left All expenditure necessarily incurred for
medical or surgical fees, hospital, nursing
• Thumb 25 20
home, physiotherapy, pharmaceutical expenses,
• A Forefinger 20 15 ambulance hire and any additional hotel or other
• A Ring or middle Finger 10 8 expenses whatsoever (except funeral and cremation
expenses) in respect of any bodily injury caused by
• A Little Finger 12 8 accident as defined in this policy, whether or not giving
• A Big Toe 10 10 rise to a claim under any other items) of this schedule
but not exceeding INR 50,000 for any one person in
• Any other 5 5 respect of any one accident.
What are the coverages The following enhanced coverages will be part of the
Top-Up plans:
• Temporary Total Disablement: Accident only amount payable per week up to a • Adventure sports
maximum of 104 Weeks. The weekly benefit would be 1% of the accidental death • Animal insect bites
employee sum insured or INR 5,000 whichever is lower. The benefit is only applicable • Monthly maintenance of Life Support
for unpaid leave equipment
• Last rites costs: Accident only-2% of employee sum insured maximum up to INR 10,000 • Marriage expenses for dependent children
• Ambulance costs: Up to INR 5,000 • Legal expenses
• Child Education Support: In the event of death or permanent total disablement, the
education support of the deceased person’s child will be an amount of INR 100,000 What is not covered?
payable per year per child (maximum for 2 children) for a period of 1year. • Damages due to war, civil war, invasion, act of foreign enemies,
• Mobility extension: INR 25,000 • revolution, insurrection, mutiny, seizure, capture, arrest, restraint or
• Burns: INR 15,000 detainment, confiscation, nationalization, or restitution by or under the
• Broken bones: INR 25,000 order of any government or public authority
• Accidental Medical Expenses: In the event of a valid claim under this policy for death, • Death or injury while under the influence of intoxicating liquor or drugs
permanent total disability or permanent partial disability, we will reimburse the • Natural death
reasonable and customary charges, subject to deductibles if any shown in the policy • Participation in any naval, military or air force operations
schedules, for medical treatment for the injury sustained, provided the treatment is
availed in a hospital in India as an inpatient for a minimum period of 24 hours. The
maximum amount payable shall be INR 50,000 per accident per person.
• Bodily injury sustained whilst or as a result of riding or driving a motorcycle or motor
What will you pay for the personal accident
scooter over 150 cc are covered insurance plan?
• Terrorism coverage As you enroll on MyBenefits@Philips, you will clearly see the costs
• Adventure sports displayed for the plan options. You can then choose to buy this plan with
• Animal / insect bites your flex points or through salary deduction. It’s that easy!
• Monthly maintenance of life support equipment
• Marriage expenses for dependent children INR 100,000 per child within full sum insured
How is the premium calculated?
only in case of permanent/partial total disablement. Premium calculation formula = (Rate per mille * Sum Insured) / 1000
• Legal expenses e.g. for a Sum Insured of INR 5 00,000 the premium would be =
• Spouse coverage would be limited to equal to employee’s benefit amount. This will be (0.2 36 x INR 500,000) /1000= INR 118per annum
a separate cover
Personal accident for spouse
Personal Accident Insurance for spouse provides the opportunity for individuals to purchase
accident and disability protection for his or her spouse or partner. This is an optional benefit
and can be bought by using flex points or through salary deduction.

In the event of accidental death or disability of a member, an amount determined in

accordance with the policy schedule shall be paid to the beneficiaries.

Plan GPA - GPA - GPA - GPA - GPA -

Identifier Spouse 10 Spouse Spouse Spouse Spouse
Lac 20 Lac 30 Lac 40 Lac 50 Lac
Sum Insured INR 1,000,000 INR 2,000,000 INR 3,000,000 INR 4,000,000 INR 5,000,000
Flex Points /
142 283 425 566 708
Rate

Spouse cover cannot be more than employee cover.

What will you pay for the spouse accident plan?

As you enroll on MyBenefits@Philipsportal , you will clearly see the costs displayed for
the plan options. You can then choose to buy this plan with your flex points or through
salary deduction. It’s that easy!

How is the premium calculated?

Premium calculation formula = (Rate per mille Sum Insured) / 1000
e.g. for a Sum Insured of INR 1,0 00,000 the premium would be =
(0. 1888 x INR 1,000,000) /1000.= INR 189 per annum under the quick
links section of MyBenefits@Philips.
Flexi cash benefits Benefits which can be availed by allocating Flex points
In addition to the insurance benefits, Philips is extending the
MyBenefits@Philips plan to avail certain Flexi cash benefits
Benefits Coverage Health & Wellness
by way of reimbursements. List of Flexi cash benefits along
with applicability is mentioned in the Rule List. Benefit Eligibility Scope Exclusions
Vaccination Employee, Vaccination for conditions such as None
What you get… Spouse, Rubella, Chicken Pox, Polio, Influenza, specified
If you are left with Flex points in your account after your Children, Hepatitis, etc.
insurance benefit selection, you can allocate those points Parents
to avail any of these benefits via reimbursement module Physiotherapy Employee, Covers consultation and treatment None specified
Spouse,
When you can choose… Children,
You can allocate unused points during the annual enrollment Parents
period. In case you are a new employee, you can allocate Mapmy Employee, Genomepatri Test, analyses the
your flex points which will be assigned to you on a pro rated genome Spouse, genetic predisposition for about
basis provided you make the selection during the benefit Children, a 100+ conditions, traits, inherited
selection period which will be open for a period of two Parents conditions, as well as drug response profile.
weeks. This is a once-in-a-lifetime test, giving the
valuable information that will guide your
What it costsyou… customer through the rest of their life.This
test includes a personalized, one- on-one
No out of pocket expense since you can allocate
genetic counselling session either on
unused flex points under Flexi cash benefits.
Phone, or Skype with our board-certified
genetic counselors. This guidance is crucial
for them to be able to make the right
changes in your lifestyle, diet, and health
checkups; helping them stay one step
ahead of any disease
Benefits Coverage-Health & Wellness
Benefit Eligibility Scope Exclusions
Gym / Fitness Centre / Yoga Employee, Spouse, • Membership/Subscription fees Cost of spa,massage etc.
/ Zumba Children, Parents • Fees for personal trainer/ sports coach are included however the
bill should separately mention the fees
• Club memberships (Health clubs, sports clubs, society clubs /
fitness groups and similar facilities)
• Standalone fitness centers that offer activities like Zumba, Aerobics,
Spinning, Cross-fit etc.
• Registered dance institutes
• Sporting equipment and devices like Bicycle, etc.
Self-defense workshop Employee, Spouse, Cost of training sessions / admission fee into
Children, Parents self- defense mechanisms

Nutrition Counselling / Employee, Spouse, Consultation for prescription based nutrition, counselling for lifestyle None specified
Dietician Children, Parents related concerns / weight loss

Superfoods Employee, Spouse, Cost of super foods (chia seeds, millets, quinoa)
/ Health Coaches Children, Parents
We have an arrangement with nourish you, wherein they will give
40% off on MRP on their website.
Condition Management Employee, Spouse, Personalized chronic disease management plan Cost of spa, massage etc.
Program - Diabetes Care, Children, Parents
Weight Management
etc
Wearable Health Devices Employee Only A wearable health device may be defined as a biosensor that
e.g. FITBIT monitors physiological data, usually with remote/wireless
communication, as part of any wearable item that attaches to the
body. Activity monitors, smart watches, smart clothing and patches are
examples.
Physical Aids (wheelchair, Employee, Spouse, Cost of external aids required due to adisability
crutches, hearing aids, etc.) Children, Parents
Benefits Coverage-Learning & Development Note:
• Each claim should be supported by a valid bill with
Benefit Eligibility Scope Exclusions a valid registration number
• Any bill submitted for reimbursement/tax
Developmental Employee • Course fee for taking classes to Transportation /
exemption should be used only once.
Hobbies only develop the hobby lodging costs
• Cost of equipment purchased like • Compliance to tax regulations would be the
camera, snorkeling equipment, staff responsibility
bicycle, musical instruments, etc. • The original bills submitted for health screening
• Cost of purchasing developmental should be maintained for records by the TPA
software, applications, domain • Bills effective from 1stApril 2021 can be claimed for
names for blogging, accessories for
reimbursement under policy period 1stApril 2021 to
musical instruments (sound
enhancers etc.) 31stMarch 2022
• Dependents declared by employees under
“MyBenefits@Philips” portal will be eligible for
Learning & Employee & Career Development / Job Related Transportation /
Development Children Courses / Professional Certification lodging costs claims for Flexi cash benefits as per the
Courses / Language courses applicable headers
Professional Development activities like • Philips reserves rights to revise/amend Rule list
attending conferences / seminars as and when needed without prior intimation to
/ research trips employees
Tuition for professional courses like • Philips reserves the right to withdraw the benefit
CFA, FRMetc.
at management’s discretion.
Library membership
Cost of technology / software
purchased for learning
Other non-insurance benefits eligible to employees through MyBenefits@Philips portal

Benefits Coverage Benefits Coverage

Crèche Fee reimbursement Marriage Gift
Eligibility Only for women employees - Maximum reimbursement will be Documentation PIC - Marriage Certificate/
up to 50% of the fee paid subject to a max of INR 5,000 per child Marriage Invitation Card.
per month translating to max 60,000 per child per annum, for a
maximum of 2 children from 4 months to 4 years of age NON-PIC - Marriage Certificate/ Marriage
Documentation Bill/Invoice from Crèche service provider Invitation Card. The receipt/ invoice of the
products bought
Entity All entities of Philips Entity All entities of Philips

Child Adoption Child Birth Gift

Eligibility Upto INR 50,000/- per child will be paid through payroll within Eligibility All eligible employees will be entitled to
9 months, subject to production of bills on adoption-related a gift from the company on the occasion
expenses, including legal expenses. of their own child birth (upto a max of
This assistance is for a maximum of two children. two children). The gift would be in the
Documents to be in the name of the employee form of PHILIPS AVENT products for a
Documentation A copy of legal adoption document which mentions the value of INR 5,000. In case employee has
amount paid towards adoption / receipt from the court / twins in the first child birth, he/she will be
lawyer charges. All documents pertaining to the charges borne eligible for gifts of combined value of INR
by the employee towards adoption. 10,000 and would not be eligible on the
Entity All entities of Philips second time. In case of employee has twins
in the second child birth, he/she will be
Marriage Gift eligible for gifts of combined value of INR
10,000 as well. New employees can claim
Eligibility PIC - Employee will be eligible for a gift voucher worth INR 5,100. for reimbursement if the child birth is after
NON-PIC - All eligible employees will be entitled to a gift from joining date.
the company on their own or their son/daughter’s marriage Documentation • Invoice Copy
(up to a max of two children). The gift would be in the form of • Birth Certificate
company’s products with a combined value of INR 10,000. Entity All entities of Philips