GROUP PERSONAL ACCIDENT
GROUP PERSONAL ACCIDENT
Accidents, many times, create serious financial issues for the injured and their dependents. In order to cover such mishaps, we present Group Personal Accident Insurance Policy which provides complete cover in the event of death or disablement of the insured due to accidents occurring anywhere in the world.
Advantages of GROUP PERSONAL ACCIDENT INSURANCE
- Comprehensive Cover
Our group personal accident covers accidental death, permanent total and partial disability, temporary total disability, medical expenses for accidents and add-ons such as ambulance charges. - Graded Sum Assured
Within group personal accident insurance, the sum assured for each employee can be set based on combinations of pay grade, designation, profile, department, annual compensation or marital status. - Addition/Deletion Of Employees
Group personal insurance allows addition or deletion of employees. Premium is charged proportionately for actual coverage and adjusted regularly. Individual plans do not offer this flexibility. - Fixed Claim Amount
A lump sum, fixed amount is paid on death or disability, typically within 30 days of filing a claim. This is not dependent upon actual expenses incurred or other claims paid for the same incident.
Query?
FAQ
General Question
While making a claim under group personal accident insurance, the employer is required to produce complete personal information (name, age, gender, address, ID proof) along with the death certificate (in case of death), dully filled claim form, panchnama, FIR report, post-mortem report, hospitalization report, medical bills and medical certificate.
No, the standard group personal accident insurance policy does not have any deductibles
Yes, employee can make a claim for an accident outside India as a group personal accidental insurance provides coverage for accident happening anywhere in the world. However, the claim settlement is done in Indian currency and claim gets paid under the jurisdiction of India only. All the required documents needs to be submitted timely to the insurer.
Full sum insured will get paid in case of permanent total disablement but in case of disability being temporary, or permanent but partial, full sum insured will not be payable. In that case, only a specified percentage of the sum insured, which got agreed at the time of inception of the policy and is mentioned in policy terms will get paid.
Yes, if an employee is suggested for a bed rest by the treating doctor after an accident then group accident insurance will pay for the absence period. In policy, the benefit is called as temporary total disabilities under which weekly benefit of Rs 5,000 for 52 weeks is paid and it can also be enhanced to Rs 25,000 for 104 weeks.
There is no requirement of any kind of pre-policy medical tests to buy a group accidental insurance for your employees.
Group personal accidental insurance is a part of employee welfare program in the companies. This plan provides comprehensive coverage such as accidental death cover or disability, cover for medical expenses related to an accident and it is significantly cheaper when bought individually by employees and administratively easier to manage for an employer. Also, amount of premium paid by the employer is exempted from taxation under Section 37 of the Income Tax Act.
Yes, because the risks covered are different in both the policies. Health insurance covers medical treatment costs, particularly hospitalization. Personal accident covers accidental death and dismemberment. Under accidental insurance, lump sum payment is made depending upon the type of claim, unlike health insurance where only amount of treatment is paid.