Why Group Personal Accidental Insurance Required?
Group Personal Accident Insurance Policy is purchased by the Companies or Groups for their Employees/Members to cover them against Risk arises due Accident. An employee of a company, is the bread earner for their family. Due to Accident, in the event of his death or disablement, his family may come under financial crisis. To avoid this problem and to secure his family’s future, company buys this GPA Policy.
Who can be covered under this Policy?
Group Personal Accident Policy covers a group that can be large as well as small i.e. Corporates, Schools & Colleges, Banks, Factories etc.
What is covered in this Policy?
This policy covers the Risks, against Accidental Death, Permanent, Total or Partial Disablement and Temporary Total Disablement.
Premium
The Premium chargeable depends on
- occupation of the Insured Person,
- Group size
- Table of benefits availed
- Past claims experience.
Group Discount
The group policy is eligible for group discount based on the size of the group. The group discount is slab-wise and increases with the size of the group.
Main Extensions
On payment of additional premium, Policy can be extended to cover
Medical expenses following an accident,
Hospital Confinement Allowance and
Permanent Total Disablement Improved Benefit, and on
Reduction in premium, the Policy can be restricted to On Duty coverage only.
Coverage and Optional Addons
Benefits:
- Death
- Permanent Total Disablement
- Permanent Partial Disablement
- Temporary Total Disablement
Extensions:
- Cover for Expenses related to Burns
- Modification of residential accommodation & vehicle:
- Repatriation of Mortal Remains
- Ambulance Charges
- Transportation Allowance (Compassionate visit)
- Travel Expenses for Medical Treatment
- Catastrophe Evacuation:
- Cost of Clothing Damage
- Loss of Job Cover
- Improved Disability Benefit/ Dismemberment
- Daily Cash Allowance:
- Carriage of Dead Body
- On Duty Cover
- Children’s Education Grant
- Accidental Hospitalization Expenses
- Mysterious disappearance
- Treatment outside India (along with travelling cost & boarding & lodging of the attendant):
Out Patient Department (OPD) expenses
- Loss/damage to School Bag/Books
- Widowhood Cover
- Purchase of Blood
- Prosthesis & Artificial Limbs
- Broken Bones