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BEST GROUP INSURANCE SCHEME FOR EMPLOYEES

Group Personal Accident Insurance

Provides cover for financial losses of your employees from unforeseen accidental death or disability.
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Customise benefits based on your budget.

Group Personal Accident Insurance

Compare quotes in 2 steps

Customise benefits based on your budget.

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A dashboard for you to view and manage your policies

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Register, submit and track your reimbursement claims.

Centralised Support

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Endorsement Ledger

Real time estimate of CD balance is available
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Dashboard

A dashboard for you to view and manage your policies

Reimbursement Via App

Register, submit and track your reimbursement claims.

Centralised Support

Connect with single contact for all support queries

Endorsement Ledger

Real time estimate of CD balance is available

Top Most Trusted Insurers

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1) Finalise the Plan

Delight your Employees With Our Add-On Plans

BRONZE

Free

Key Account Manager

Mobile App:Cashless eCard and Reimbursement eClaims

Claim status on app

HR Dashboard

SILVER

Rs. 100/ per employee

All feature of Bronze

General Physician Video consultation: 2 per employee

wellness webinar: 1 per month

Quarterly premium client engagement call

GOLD

Rs. 750/ per employee

All feature of Silver

Specialist Video consultation: 2 per employee

Basic health check-up on 9 parameters

Top-up insurance of 10 lacs Sum assured with 5 lacs Deductible for self, spouse, and 2 children (max age:40)

Claims support for personal health insurance plans

PLATINUM

Rs. 2500/ per employee

All feature of Gold

Specialist Video consultation: 4 per employee

Advanced health check-up on 25 parameters

Top-up insurance of 10 lacs Sum assured with 5 lacs Deductible for Father and Mother (max age:70-for top 10% of employees)

Buy Now Pay Later OPD Upto 10K per employee

Senior Citizen helpline

BRONZE

Free

Key Account Manager

Mobile App:Cashless eCard and Reimbursement eClaims

Claim status on app

HR Dashboard

SILVER

Rs. 100/ per employee

All feature of Bronze

General Physician Video consultation: 2 per employee

wellness webinar: 1 per month

Quarterly premium client engagement call

GOLD

Rs. 750/ per employee

All feature of Silver

Specialist Video consultation: 2 per employee

Basic health check-up on 9 parameters

Top-up insurance of 10 lacs Sum assured with 5 lacs Deductible for self, spouse, and 2 children (max age:40)

Claims support for personal health insurance plans

PLATINUM

Rs. 2500/ per employee

All feature of Gold

Specialist Video consultation: 4 per employee

Advanced health check-up on 25 parameters

Top-up insurance of 10 lacs Sum assured with 5 lacs Deductible for Father and Mother (max age:70-for top 10% of employees)

Buy Now Pay Later OPD Upto 10K per employee

Senior Citizen helpline

Quick Guide to Group Personal Accident Insurance

Group Personal Accident Insurance


Accidents can happen to anyone, anywhere, and at any time. Unfortunately, the consequences of accidents can be devastating, leaving people with permanent disabilities or even resulting in death. While accidents cannot be prevented, their impact can be mitigated through adequate insurance coverage.

One such insurance coverage is Group Personal Accident Insurance, which provides financial protection to groups of individuals in case of accidental death or disability. In this article, we will discuss what group personal accident insurance is, its benefits, coverage, and how it works.

What Is Group Personal Accident Insurance?


Group Personal Accident Insurance is a type of insurance policy that provides coverage to groups of individuals against accidental death or disability. The policy is typically taken by employers, clubs, associations, or any other group of people who want to provide insurance coverage to their members. It is a type of group accident guard policy that offers financial protection to the insured and their family members in case of an accident.

The policy provides coverage for accidental death, permanent total disability, permanent partial disability, temporary total disability, and medical expenses resulting from accidents. It is a customizable policy that can be tailored to meet the specific needs and requirements of the insured.

Group personal accident policy is an affordable insurance policy compared to other insurance policies. The premiums are usually low, making it accessible to groups of people who may not be able to afford other insurance policies.

It provides peace of mind to the insured and their family members, knowing that they are protected in case of an accident and will not have to bear the financial burden of medical expenses or loss of income.

Benefits of Group Personal Accident Insurance


Group Personal Accident Insurance offers several benefits to the insured and their family members. Let's take a closer look at some of these benefits of group accident insurance:


  • Financial Protection: The policy provides financial protection to the insured and their family members in case of an accident. The lump sum paid by the policy can be used to cover medical expenses, loss of income, or any other expenses resulting from an accident. This provides peace of mind to the insured and their family members, knowing that they are protected in case of an unexpected event.

  • Customizable Policy: Group Accident Insurance is a customizable policy that can be tailored to meet the specific needs and requirements of the insured. The policy can be adjusted to include or exclude certain coverage, depending on the needs of the group. This makes it a flexible policy that can be adapted to suit different groups of people.

  • Affordable Premiums: Group Accidental Insurance Policy is an affordable insurance policy compared to other insurance policies. The premiums are usually low, making it accessible to groups of people who may not be able to afford other insurance policies. This makes it an attractive option for small businesses, clubs, associations, and other groups of people.

  • Easy Administration: The policy is easy to administer, and the premiums are usually paid by the group. This means that there is no need for individual members to make payments or keep track of their policy. The policy is managed by the group, making it a hassle-free option for both the insured and the group.

  • Tax Benefits : Group Personal Accident Insurance offers tax benefits to the group. The premiums paid for the policy are tax-deductible, which means that the group can save money on their taxes. This makes it an attractive option for groups that are looking for ways to save money on their taxes.

  • Employee Retention: Offering Group Personal Accident Insurance to employees can help with employee retention. Employees are more likely to stay with a company that offers benefits, including insurance policies. This can help with reducing employee turnover and building a loyal and dedicated workforce.

  • Group Personal Accident Insurance offers several benefits to the insured and their family members. The policy provides financial protection, is customizable, has affordable premiums, is easy to administer, offers tax benefits, and can help with employee retention. It is a valuable insurance policy that can provide peace of mind to the insured and their family members in case of an unexpected event.

    Key Features of Group Personal Accident Insurance


    Here are some Features of Group Personal Accident Insurance:


  • Accidental Death and Disability Coverage:The policy provides coverage in case of accidental death or disability. The lump sum paid by the policy can be used to cover medical expenses, loss of income, or any other expenses resulting from an accident. This provides peace of mind to the insured and their family members, knowing that they are protected in case of an unexpected event.

  • Coverage for Temporary and Permanent Disability: The policy provides coverage for both temporary and permanent disability. If the insured is temporarily disabled, they will receive a portion of the sum insured, which can be used to cover their expenses during the recovery period. If the insured is permanently disabled, they will receive the full sum insured, which can be used to cover their ongoing expenses.

  • Worldwide Coverage: Group Personal Accident Insurance provides coverage worldwide, which means that the insured is protected no matter where they are in the world. This is particularly beneficial for businesses or organizations with international employees or members. It is one of the best Key Features of Group Accident Policy.

  • Hospitalization and Medical Expenses: The policy provides coverage for hospitalization and medical expenses resulting from an accident. This includes expenses such as hospital room charges, surgical fees, and medication costs. The insured can focus on their recovery without worrying about the financial burden of medical expenses.

  • No Medical Examination Required : Unlike other insurance policies, Group Personal Accident Insurance does not require a medical examination. This makes it an accessible option for groups of people who may not qualify for other insurance policies due to pre-existing medical conditions.

  • What Does Group Personal Accident Insurance Cover?


    Group Personal Accident Insurance is designed to provide financial protection to members of a group in case of an accidental injury or death. The coverage provided by the policy can vary depending on the specific needs of the insured group, but generally, Group Personal Accident Cover includes the following:


  • Accidental Death: Group Personal Accident Insurance provides coverage in the event of the insured's death because of an accident. The policy pays a lump sum to the beneficiaries or the insured's estate, which can help cover any financial obligations such as outstanding debts or funeral expenses.

  • Permanent Total Disability: If the insured suffers from permanent total disability, because of an accident, the policy provides a lump sum payment. This payment can help cover the cost of medical treatment, home modifications, and other expenses resulting from the disability.

  • Long-lasting partial disability:If the insured suffers from long-lasting partial disability, because of an accident the policy provides a lump sum payment. This payment can help cover the cost of medical treatment, home modifications, and other expenses resulting from the disability.

  • Temporary Total Disability: If the insured is unable to work for a specific period because of an accident, the policy provides a weekly or monthly payment to replace the lost income. This payment can help cover any expenses the insured may have during this period.

  • Medical Expenses : The policy may cover the cost of medical treatment and hospitalization resulting from an accident. This coverage can help the insured avoid the financial burden of unexpected medical bills.

  • Emergency Evacuation and Repatriation : If the insured is injured while traveling and requires emergency evacuation or repatriation, the policy may cover the associated expenses.

  • Group Accident Insurance Exclusions


    While Group Personal Accident Coverage provides valuable financial protection in case of an accidental injury or death, it is important to understand that the policy may also have exclusions. These exclusions are specific circumstances in which the policy does not provide coverage. Some of the most common exclusions for Group Personal Accident Coverage include:


  • Intentional Self-Inflicted Injuries:The Group Personal Accident Insurance policy does not cover injuries that were intentionally inflicted by the policyholder.

  • Pre-Existing Medical Conditions:The policy may not provide coverage for injuries resulting from a pre-existing medical condition. However, this exclusion may vary depending on the specific policy.

  • Injuries Sustained while under the Influence of Drugs or Alcohol:The policy may not provide coverage for injuries sustained while under the influence of drugs or alcohol.

  • War or Acts of Terrorism: The policy may not provide coverage for injuries sustained as a result of war or acts of terrorism.

  • Hazardous Activities :The policy may not provide coverage for injuries sustained while participating in hazardous activities, such as extreme sports or activities with a high risk of injury.

  • It is important to carefully review the policy's exclusions before purchasing Group Personal Accident Coverage. By understanding what is not covered by the policy, individuals can make informed decisions about their insurance needs and ensure they have the appropriate coverage in case of an accident.

    Group Personal Accident Insurance - FAQs:

    Generally, group personal accident insurance provides coverage to the individual who is a part of the group. However, some policies may extend coverage to the immediate family members of the insured, such as spouse, children, and parents. It's important to check with the insurer or policy documents to understand the extent of coverage for family members.
    Group Personal Accident Insurance provides coverage for accidental injuries that result in death, permanent or partial disability, and temporary total disability. However, some policies may exclude coverage for injuries resulting from participation in hazardous activities such as adventure sports or mountaineering. It's important to read the policy documents carefully to understand the inclusions and exclusions of the policy.
    Group Personal Accident Insurance usually covers accidents that occur while the insured is traveling via a common carrier, including planes. However, it's essential to verify the coverage and the extent of it with the policy documents to know what all is covered and what is not covered.
    Health insurance policies do not cover accidental injuries or disabilities. Group Personal Accident Insurance provides additional coverage to employees for accidents or disabilities that may occur outside of work. It is always advisable to hold both health insurance and Group Personal Accident Insurance policies for comprehensive protection.
    Yes, in case of the unfortunate event of the death of the insured person, the group personal accident insurance policy provides a lump sum payment to the nominee or legal heirs. This payment can help provide financial support to the family of the deceased.
    No, group personal accident insurance does not provide coverage for natural death. It only covers accidental death or injuries due to accidents. However, some insurance companies may offer additional coverage for deaths due to certain illnesses or diseases, but this varies from policy to policy.
    In most cases, no medical test is required for employees to get a group personal accident policy. The insurance company usually asks for basic medical information, such as age and occupation, to determine the premium amount.