What are the important features of Personal Accident insurance? This short video explores the importance of understanding the key features of any Group Personal Accident Insurance policy through a real-life case study. Learn why it’s crucial to carefully evaluate and compare different policies to ensure that you choose one that meets your specific needs, as […]
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 does a borrower GPA policy work?
A group personal accident (GPA) policy covers accidental death and disability. A Borrowers’ Group Personal Accident (GPA) Policy is an insurance policy designed to provide coverage against accidental injuries or death for a group of borrowers. Typically, offered by lending institutions such as a bank or an NBFC to cover borrowers. It offers financial protection […]
Group Personal Accident cover- Features (infographic)
Group Personal accident Insurance 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 Group Personal Accident Cover . Group Accidental Insurance Policy covers accidental death, permanent partial or total disability, temporary total disability, and dismemberment of […]
What does personal accident Insurance cover?
Personal accident insurance cover pays a fixed amount if an employee has an accident. The following are the standard coverages in personal accident insurance: Accidental Death: Death because of a car crash, or any other unfortunate accident is covered by personal accident insurance. If the insured dies in an accident, the beneficiary receives compensation of […]
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 […]
What Is Not Covered Under Group Personal Accident Insurance?
Group personal insurance is a type of insurance policy that provides coverage to a group of individuals, such as employees of a company or members of an association. This type of insurance policy typically includes health, life, and personal accident coverage, and it is designed to provide a cost-effective way for individuals to access insurance […]
What is the difference between personal accident insurance and life insurance?
This article is meant to understand the major differences between personal accident insurance and life insurance. A life insurance policy is a contract between the insured and the insurer under which, the insurance company provides a lump-sum payment to the beneficiaries upon the insured’s death. This is the death benefit. It acts as an income […]
Personal accident insurance | What is considered an accidental injury
Accidental injury as the name suggests 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 cause of death. Injuries resulting from an accident such as […]