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 key features of Group Personal Accident insurance.
Key features of Group Personal Accident insurance are financial and emotional assistance in case of accidental death, permanent partial or total disability, temporary total disability, and dismemberment of the employees. It can also cover the accidental hospitalization expenses of employees. Further, several add-ons are available such as children’s education grant and funeral expenses. Instant policy issuance, when buying policy online, is a convenient and efficient feature offered by insurers under Group Accidental Insurance policy.
Standard exclusions include natural death, self-inflicted injuries, intoxication, death or injury due to HIV or any sexually transmitted diseases, etc. Various add-ons coverage like coverage for children’s education, ambulance charges, funeral expenses, transportation of mortal remains, etc. can be covered under the group accident policy by paying a little extra premium.
The typical Group Personal Accident Insurance Policy For Employees cover offered by the employers is 3 to 5 times of annual salary of the employee. The higher the insurance cover the more is the security for the employee.
You can minimize the cost of this policy through better negotiation with the insurer, by signing up for multiple years, and by optimizing on non-essential add-ons as per the specific occupation or industry. Also, employers with low claims over multiple years enjoy lower premiums in policy. The team of SecureNow will negotiate the best terms on your behalf as a service provider.
Written By-
Gunjan Saxena
MBA Insurance Management
With a robust background in the insurance industry, Gunjan is a seasoned professional who brings 10 years of expertise to group personal accident insurance. Throughout her career, she has demonstrated a deep understanding of the intricacies and nuances of insurance products, particularly in personal accident coverage. Having worked closely with both individuals and businesses, she has gained valuable insights into the diverse needs and challenges faced by clients seeking insurance protection. Her experience encompasses designing tailored insurance solutions, providing expert advice, and guiding clients through the insurance process with confidence and clarity.
Through her articles, Gunjan aims to educate and inform readers about the importance of group personal accident insurance and the benefits it offers in safeguarding against unforeseen events.
