Manager/Sr. Manager - Finance

Onsurity raises over $26 Mn in new round led by Creaegis

- Onsurity, an employee healthcare platform, has raised $26.4 million in a new funding round led by Creaegis. - The board approved issuing 10 equity and 6,302 series B1 CCPs at Rs 3,48,089 each, totaling Rs 219 crore. - Creaegis contributed Rs 176.4 crore, while Nexus Ventures and Quona Capital added Rs 31.4 crore and Rs 11.9 crore, respectively. - Funds will be used for growth, expansion, working capital, and general corporate purposes. - Post-funding, Onsurity is valued at Rs 1,032 crore, with Creaegis holding 17.10% of the company. Source: [Entrackr](https://entrackr.com/2024/09/exclusive-onsurity-raises-over-26-mn-in-new-round-led-by-creaegis/)

💼 CRED's Income Protection Plan: Job Loss Insurance Most Tech Professionals Don't Know About

Discovered something while paying bills on CRED - they offer an "Income Protection Plan" for ₹2,490/year. After digging deep, thought this might be useful info to share. IMPORTANT: This isn't showing for everyone on CRED. It appears to be selectively offered. If anyone knows other sources for similar coverage, please share in comments. What CRED's Income Protection Plan actually is: Personal Accident + Job Loss coverage by Go Digit Insurance (through Onsurity Technologies). This is essentially their "Comprehensive Group Protect Policy" bundled with health & wellness membership benefits. Real example: - Software Engineer with ₹80,000 monthly take-home - Home loan EMI: ₹45,000/month - Gets laid off, company gives 3 months severance - Insurance kicks in from month 4 - Receives: ₹45,000/month for 3 months (whichever is lower: EMI amount or 70% of salary) What's covered in CRED's Income Protection Plan: ✅ Involuntary termination/layoffs/downsizing/company closure ✅ Accident death/disability benefits (₹6L) ✅ Hospitalization cash benefit (₹1L for 7+ continuous days) ✅ Re-employment at lower salary - pays 70% of difference What's NOT covered: ❌ Voluntary resignation/retirement ❌ Poor performance/disciplinary termination ❌ Contractual/probation period/casual employment ❌ Self-employed/freelancers ❌ Jobs outside India CRITICAL T&C to understand: - 60-day waiting period (90 days for 12-month policy) - Must be continuously employed 6+ months before buying - Age limit: 18-60 years - Cannot purchase after losing job - No prior knowledge of layoffs/downsizing allowed when buying - Severance pay period must end before claims start - Maximum 3 monthly payouts - Coverage only for salaried employees in India The math: Monthly payout = Lower of: - Fixed EMI amount OR - 70% of average last 3 months take-home salary Capped at ₹1,00,000 per month Important reality check: This Income Protection Plan isn't a magic solution. It should be just ONE part of your safety net: - Emergency fund (6-12 months expenses) - MOST IMPORTANT - Continuous upskilling and learning - Strong professional network - Multiple income streams/side hustles - Health insurance and other protections Why sharing this: With current market volatility and layoffs across industries, many don't know CRED offers this Income Protection Plan. Whether you need it depends on your situation - some prefer building larger emergency funds instead. The availability issue: Currently not visible to all CRED users - seems to be targeted offering. I couldn't find anyone else selling similar employment protection insurance readily available to individuals. If you know other sources, please share! Bottom line: This is just information sharing, not advice. Read the complete policy document carefully, understand all T&C before deciding. CRED's Income Protection Plan should support your financial planning, not replace solid emergency savings and career development. If you see this Income Protection Plan option on CRED or know alternative sources for job loss insurance, drop a comment to help others! Remember: The best job security is staying valuable in the market through continuous learning and networking. #JobSecurity #TechCareers #FinancialPlanning #Insurance #EmergencyFund #CareerAdvice #CRED #IncomeProtection How do you protect against job loss?