With monsoon on the dock, it is that time of the year when we encounter flood, humidity, and damage to our assets. Slips and falls whilst on our bikes become more common. Of course, one can not rule out the runny nose, malaria, dengue, other mosquito-led diseases, and other water-borne illnesses. There are many risks […]
How helpful is a personal accident insurance plan?
The number of accidents has increased over the past few years. The official figure of road accidents has crossed 2357 in the first 5 months of 2022. Now, this can be attributed to a growing number of vehicles on the road, poor infrastructure, and non-adherence to road safety rules. Since an accident could cause death […]
What are the reasons for claim rejection in GPA?
You can claim in a GPA policy against accidental death, permanent and partial disability, temporary disability, and accidental medical expenses depending on the coverage in your policy. However, there are chances that your accidental claim, though legitimate, is rejected by the insurer. Below is the list of policy exclusions or the reasons why your claim […]
How do different options for medical expenses work in Group Personal Accident policy?
Coverage for accidental medical expenses is one of the key add-on benefits in the Group Personal Accident policy. Most accidents lead to medical expenses incurred by the employee on first aid or treatment. Therefore, coverage of accidental medical expenses in the Group Personal Accident policy provides reimbursement for the above expenses. It is important […]
How do different options work for medical expenses in Group Personal Accident policy?
Coverage for accidental medical expenses is one of the key add-on benefits in the Group Personal Accident policy. Most accidents lead to medical expenses incurred by the employee on first aid or treatment. Coverage of accidental medical expenses in the GPA policy provides reimbursement for the above expenses. It is important to note that this […]
How to reduce your rate for GPA, if you already have a GTL cover?
GPA policy and GTL policy offer accidental and life coverage respectively. Both are fixed benefit policies that provide financial security to the employee’s family upon the employee’s death. Coverage for GPA and GTL are as under – Group Personal Accident Group Term Life 1. Accidental Death (AD) 1. Death (Natural & Accidental) 2. […]
How does a borrower GPA policy work?
A group personal accident (GPA) policy covers accidental death and disability. A group such as a bank or an NBFC can design such a policy to cover borrowers. This notably helps secure the loan amount in case the borrower meets with an accident. Insurance for borrowers Why is it needed? There is a large market […]
Personal Accident insurance – Right price (Infographic)
With so many options in the market, paying the right price for Personal Accident insurance can be confusing. The insurance pays a pre-determined amount when an employee has an accident that can benefit the employee or their family. The below infographic explains various factors that influence the premium of this policy. The typical cover offered […]
Right insurer for Group Personal Accident – Infographic
With so many options in the market, choosing the right insurer for Group Personal Accident insurance can be confusing. The insurance pays a pre-determined amount when an employee has an accident that can benefit the employee or their family. The below infographic explains various factors that you should consider to choose the best one. The typical […]
Personal Accident insurance – Claims process (Infographic)
While making a claim under group personal accident insurance, the employer needs to give complete personal information with the required documents. Claims can be rejected if the documentation is incorrect, or the claim involves an excluded condition The infographic below explains how SecureNow offers an easy claim process. This policy can also provide tax benefits […]