What does personal accident Insurance cover?

Personal accident insurance provides financial support at the time of an unfortunate mishap. It is important to understand the coverage provided under this policy while buying the policy. Following are the standard coverage in a personal accident insurance: 1. Accidental Death: Death because of a car crash, slip or any other unfortunate accident is covered […]

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What are the different types of Disabilities covered under a Group Personal Accident Plan?

Group personal accident insurance plans cover multiple types of disabilities. 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 the permanent loss of functionality of one or two limbs. For example, severed […]

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What Is Not Covered Under Group Personal Accident Insurance?

The below-mentioned causes of injury or death are not covered or included under a group personal accident insurance: Additional payment for a claim after it has been paid Any pre-existing condition and disability or accident arising out of it Consequential loss of any kind and legal liability Curative treatments or interventions Damages due to war, […]

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What is considered as an accidental injury in personal accident insurance?

Accidental injury as the name suggest delineates all those types of injuries which are the outcome of an unforeseen and unfortunate mishap. Falls, cuts, burns, road accidents, bites, stings and drowning are examples of accidental injuries. Accidents can happen any time and accidental injury is one of the alarming cause of death. Injuries resulting from […]

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How is the Claim Processed Under Group Personal Accident Insurance?

The claim process for a group personal accident insurance is mentioned below Steps to follow in case of a death claim Assignee named under the policy should immediately notify the policy issuing office. Submit the claim form along with the death certificate, post-mortem report, police report and original copy of the policy. Documents Required Claim […]

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4 Reasons You Need a Group Personal Accident Policy for Your Workforce

A group personal accident policy is one of the most crucial insurance covers that any organisation must avail to ensure safety and security of its valued employees. No organisation would want to lose its talented workforce due to any unexpected mishaps. However, absolute safety can never be ensured in today’s fast-paced world with an alarming […]

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What is Group Insurance Policy?

Group Insurance refers to the type of insurance which covers a ‘group’ of people instead of one individual. The only condition is for all members of one group to be included in a single policy is that the group’s risk should be homogeneous. The ‘Groups’ can be of two types: Formal Groups (Employer-Employee): The formal […]

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How to decide coverage under the Group Life Insurance Policy?

The employer can choose different benefit calculations to determine the amount of coverage for the employees. For group insurance contract, employees are assigned to different classes and schedule of benefits are attached to different classes that determine the amount of coverage that will be provided to the employee of each class. Here are the various […]

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What are the different types of Group Gratuity Insurance Plan?

An employer may take a group gratuity plan with an insurance provider. The gratuity paid by the company is based on the terms of the group insurance scheme. The different types of group gratuity insurance plans are mentioned below: Unit Linked Plan: The Unit Linked Plan is a group policy with an indefinite policy term. […]

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