The extent of the coverage of the group personal accident cover depends on the terms of the plan. In this article, we’ll get to know what is covered under group personal accident insurance. Coverage Under Group Personal Accident Insurance Generally, the following covers are provided by most of the group personal accident policies: Accidental Death: […]
Don’t be like Mr. Verma, Know your Group Personal Accident Insurance in detail
Mr. Suresh Verma, a 35-year-old, was working as an IT professional in an MNC in Delhi for the last six years. Being tied up with office work, Suresh never knew what benefits his company’s personal accident insurance offered. He only knew that a certain amount of his income was deducted from his salary every month […]
What liabilities does a Group Personal Accident Insurance scheme cover?
An accident is a scary event that leads to long-term scale trouble. Although nobody has any control over any sudden unforeseen event, we can prepare ourselves for the damage that can happen after an accident. Loss of life to permanent disability, any unfortunate thing can take place after an accident. The worst part is that […]
Benefits of Group Personal Accident Policy in the Competitive Business Scenario
Hardworking employees are amongst the most valuable assets a competitive business can have today. This is why it has become so necessary to take care of their needs and welfare. In a competitive business scenario, along with preparing for the unexpected in operations, you need to consider protecting your employees. So let’s get to know […]
Group personal accident insurance
Q1. What is Group Personal Accident Insurance? Group Personal Accident Insurance policy provides your beneficiary with a benefit in the unfortunate event of your accidental death and disability. It covers the following injury or death due to accidents: 1. Accidental Death: It provides for payment of compensation on the insured person’s death caused by bodily […]
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 the importance of group personal accident insurance for employees?
Considering the rise in the number of accidents, many organizations offer group personal accident insurance to their employees. Companies either offer it free of cost or charge nominal premium rates. Why is a group personal accident insurance important A group personal accident insurance is important for employees because of the following reasons: Gives financial security […]
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 […]
What Kind of Modifications To The Living Conditions Are Covered By The Group Personal Accident Policy?
This is one of the additional features offered by many group personal accident (GPA) policies. Under this provision, the insurer refunds the amount spent on modifications to the house and vehicle of the insured provided: The insurer accepts the claim for permanent total disability or permanent partial disability for the insured The modifications have been […]
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 […]