Employees are important for the continuity of any firm’s operations. So, it becomes very important to protect them against unfortunate events that can result in partial or permanent disability or even death of the employee. The group personal accidental insurance offers this cover to the employees on behalf of the employer. Key Takeaways The Solitary […]
How does the Group Personal Accident cover benefits your organization?
It is the responsibility of the employer to protect its employees. The employees being an important part of the organization, and the group personal accident cover helps in protecting the employees. The policy cover helps in covering the medical expenses and other compensation to the employees in case of an accident or injury and against […]
What is covered under Group Personal Accident Insurance?
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. Key Takeaways Beyond Basic Indemnity: A comprehensive group accident plan operates as an adaptive financial shield, simultaneously executing medical reimbursements, fixed disability […]
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). Key Takeaways Global Peril Protection: Group personal accident insurance policies are generally designed with worldwide geographic applicability, ensuring continuous protective coverage for overseas project deployments. The Legal Definition of Family: Family transportation allowances are strictly bound by underwriting […]
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. Key Takeaways The Solitary Earner Shield: For households relying completely on a single breadwinner, a group personal accident policy prevents absolute economic collapse following a […]
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 […]