The extent of the coverage of the group personal accident cover is dependent upon the terms of the plan. Generally, these are the covers that are provided by most of the group personal accident insurance cover:
- Accidental Death: Compensation is paid to the family member of the employee in case there is an injury resulting in the loss of life of the worker.
- Permanent Total Disability: If the employee meets any accident that resulted in a permanent disability that continued for 12 months, then the compensation up to sum assured is paid to the employee.
- Permanent Partial Disability: In case there is any injury to the employee due to which he became partially disabled, then 2% to 60% of the sum assured depending on the terms of the policy is paid by the insurer to the employee. But, the disability should be continued for more than 12 months.
- Weekly Benefits: The employee is entitled to a weekly benefit if he is full disabled, but for a temporary period to compensate the loss of salary due to not working.
- Ambulance Charges: If in the case of injury, your employee is needed to be taken to the hospital by ambulance, then the insurer reimburses the ambulance charges.
- Mortal Remains Charges: The policy also reimburses all the expenses relating to transportation of mortal remains of the employee to his home or ground.
- Broken Bones: If any of the bones are damaged or break due to an accident or injury of any of your workers, the policy pays a lump sum amount to the employee.
- Medical Reimbursements: The plan reimburses all the medical expenses and hospitalization charges related to the injury.
- Education Benefits: The insurance company reimburses the educational costs of the children, in the case of unfortunate death or permanent disability of the employee.
- Change in Lifestyle: The permanent disability can bring changes to the lifestyle of the employee like a modification to the car or in his home to make them handicap The policy also reimburses some part of these expenses.
Case on Covers of Group Personal Accident Insurance
The Red Ltd. had subscribed to the group personal accidental insurance about 5 years ago to keep their employees covered for accidental injuries. It was a big move by the company for the betterment of the employees which provided comprehensive coverage to employees in case of any unfortunate accidents. The policy helped various employees on numerous occasions in the past couple of years.
Mr. Dilip Sharma, the head of the sales department of the company, met with a serious accident while visiting one of the plants. He sustained some injuries, and the accident policy reimbursed him with all the hospitalization and medical expenses as well as a lump sum amount owing to the disability.
One of the delivery drivers met with a road accident while on a delivery duty. The accident crippled him for a few weeks. The policy paid weekly benefits for the time he was not able to work.
Mr. Ram Kumar, one of the workers in the factory, was working on some machinery, and another worker switched on the machinery unknowingly due to which Ram lost one of his arms. He was permanently disabled and will not be able to work again. He was paid permanent disability benefit as well as an educational benefit to sustain education cost of his son by the policy.