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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 […]

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Personal Accident cover- Features (infographic)

Group Personal accident cover pays a fixed amount if an employee has an accident. This provides financial support in case of death or total or permanent disability. The infographic below explains the features of this policy. Group personal accident insurance covers accidental death, permanent partial or total disability, temporary total disability, and dismemberment of the […]

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What does personal accident Insurance cover?

Personal accident insurance cover pays a fixed amount if an employee has an accident. Following are the standard coverages in personal accident insurance: Accidental Death: Death because of a car crash, or any other unfortunate accident is covered in personal accident insurance. If the insured dies in an accident, the beneficiary receives compensation of 100% […]

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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 […]

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What Is Not Covered Under Group Personal Accident Insurance?

What Is Not Covered Under Group Personal Accident Insurance? The below-mentioned causes of injury or death are not covered under a group personal accident insurance: Natural Death Death or injury while under the influence of intoxicating liquor or drugs Death or injury while engaged in an adventure sport or hazardous activity Any pre-existing condition and […]

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What is considered an accidental injury in personal accident insurance?

What is considered an accidental injury in personal accident insurance? Accidental injury as the name suggest delineates all those types of injuries which are the outcome of a mishap. Falls, cuts, burns, road accidents, bites, stings and drowning are examples of accidental injuries. Accidents can happen at any time and accidental injury is a significant […]

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