A group personal accident policy covers the employees of the organization against disability or death while in the service period. Most organizations secure their employees with this policy as employees form a vital part of any business. What does Pregnancy Exclusion Clause in a Group Personal Accident Policy? A group personal accident policy can be […]
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How to compare insurance quotes? Things to remember
Whatever insurance policy that you buy, you have to pay a premium for the same. Premium is the consideration that is paid for the insurance contract. It is like the cost of securing the coverage. The premium for insurance policies is not the same across insurance companies. Every company has its own pricing policy determined […]
What Is Repatriation and Family Transportation Allowance in Group Personal Accident Policy?
Repatriation allowance and family transportation allowance are additional benefits available in a group personal accident policy (GPA). They refer to the benefits as given below: Repatriation Allowance GPA policies are generally applicable throughout the world, and as such in the case of death in any foreign location repatriation will be required. GPA policy may cover […]
What is Children Education Allowance in Group Personal Accident Policy and When is it Paid?
Employees are one of your biggest assets as your success depends on them. While, you have bought group term insurance and group health insurance to give financial security to their families after their death and also cover them against rising medical expenses, what if they don’t die but become disabled? To combat such issues, it […]
What Is The Limit Of Coverage For Medical Expenses Under Group Personal Accident Plans?
Limits for all the benefits payable under the group personal accident plan are defined separately within the group plan. However, in case of multiple benefits being paid, the total of such benefits does not exceed the sum insured for the member. In a GPA plan, medical expenses are payable for both inpatient and out-patient treatments, […]
What are the different types of Disabilities covered under a Group Personal Accident Plan?
There are different types of disabilities that are covered under a Group personal accident insurance. The disabilities caused by accidents are classified under the following three sections for determining compensation: Permanent Total Disablement (PTD) Permanent Partial Disablement (PPD) Temporary Total Disablement (TTD) Permanent total disablement refers to permanent loss of functionality. For example, if there […]
What are characteristics of Group Accidental Insurance Policy?
A group accidental insurance policy has the following characteristics: Issued to a group of people with the similar risk profile Employers, organizations, travel companies, banks, and other service providers can create the groups The insurance covers the expenses and compensates the insured group members for any injury sustained in the course of their lives (except […]
How is a Claim Processed Under Group Personal Accident Insurance?
Personal accident insurance allows the insurer to get a fixed amount in case of an accident. A group personal accident insurance can help an organization to ensure the safety of its employees. Know how is claim processed under Group Personal Accident Insurance? How to claim a Group Personal Accident Insurance In case of an accident, […]