Group Personal Accident Insurance
Group Personal Accident Insurance
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Group Personal Accident Insurance

Group Personal Accident Insurance Policy is essentially designed to provide compensation to the employees of an organisation who suffers bodily harm entirely as a result of an accident that can be external, violent or visible. This insurance is purchased by the company or organisation running a business and provides coverage to the employees or staff if they met with an accident and insure them against disability, death, loss of any body part. Subsequently, demise or harm due to any pre-existing diseases aren't covered by the policy.

Low Premium

Protection To Every Personnel

Provides cover to a group of working employees of an organisation prone to related threats and accidents. Supporting their families in way by taking care of the medical expenses.

One Insurance, Many Solutions

One Insurance, Many Solutions

The coverage offers the fees and compensates the insured group manpower for any injury sustained in the direction in their lives (besides injuries acquired because of excluded causes).

Know Safety, Not Accident

Know Safety, Not Accident!

Applies to employees going abroad for work purposes including those staying outside of the country and working for India.

Importance of Group Personal Accident Insurance

Group Personal Accident Insurance Policy offers an organisation with the death cover, coverage for any bodily injuries caused to the workforce due to an accident. The coverage is operated around the world and available 24/7 on the go.

People are more prone to accidents today, as we prefer to drive everywhere for every purpose. If the wage earner of the family is injured, disabled or dies out of any accident this insurance will help and support on behalf of the company’s group insurance policy.

Special coverages are available ranging from a restrained cover of death simplest to a comprehensive cover overlaying dying, permanent disablements and temporary general disablements. Companies must purchase this cover to provide security to its manpower from any accidents along their way as it their responsibility to cover them with a shield of protection in times of any mishap. A personnel is always devoted towards his/her organisation and so the organisation should be with the employee also.

Group personal accident insurance is provided for detailed organizations with a reduction in premium relying upon the dimensions of the organization. Hence, this insurance is crucial for business establishments to provide security and safety to their employees.

Benefits of Group Personal Accident Insurance

  • If the employees of an organization die due to an accident this policy will pay the compensation for the expenses of the medical treatment of the individual.
  • Clinical expenses bobbing up out of accidents paid on behalf of the company to the worker of the association.
  • Everlasting overall disability because of an accident is covered by the policy to support the individual and his/her family in times of need.
  • The insurance policy also covers Permanent partial disability because of an accident to meet the expenses requirements.

Types of Group Personal Accident Insurance

Name of the PlanFeatures & BenefitsDo Not Cover
TATA AIG Group Personal Accident Insurance Plan
  • Death due to accidents
  • Cover for disability
  • Add-on riders available
  • 24/7 availability
  • Activates from the very 1st day
  • Already acquired diseases
  • Suicide
  • Nuclear explosions, wars, riots, etc.
  • HIV AIDS
  • Pregnancy
ICICI Lombard Group Personal Accident Insurance Plan
  • Death or injuries due to accidents
  • Cover for disability (total or permanent partial only)
  • Medical and hospital expenses
  • Available discounts depend on the group size
  • Health check-ups not required
  • Simple claim settlement process
  • Death by age
  • Suicide
  • Nuclear explosions, wars, riots, etc.
  • Self assault due to the intake of drugs and alcohol
  • Pregnancy
SBI General’s Group Personal Accident Insurance Plan
  • Death due to accidents
  • Cover for disability
  • Entry age within 18 to 65 years only
  • Individuals entered in military, police, army, etc. involved in war or safety are not covered
  • Suicide
  • Nuclear explosions, wars, riots, social upheaval, etc.
  • HIV AIDS
  • Hazardous events
  • Childbirth or related complications
Royal Sundaram Group Personal Accident Insurance Plan
  • Death due to accidents
  • Cover for disability (temporary total)
  • International cover
  • Restoration benefit
  • Can choose the higher sum assured limit
  • Acts for adventure purposes
  • Suicide
  • Involved in crime
  • Nuclear explosions, wars, riots, etc.
  • HIV AIDS
  • Childbirth or Pregnancy
HDFC ERGO Group Personal Accident Insurance Plan
  • Death due to accidents
  • Cover for disability (permanent)
  • Hospitalization expenses
  • Facial reconstruction surgery arise due to accident
  • Faster settlement of claims
  • Death due to high consumption of drugs and alcohol
  • Already acquired diseases
  • Suicide
  • Nuclear explosions, wars, riots, etc.
  • Criminal offenses

Inclusions & Exclusions of Group Personal Accident Insurance

Inclusions

  • The policy covers miserable death, permanent general disability, permanent partial disability, overall disability, transient general disability of the personnel is also included.
  • Extra benefits include education for children, restoration advantage, and funeral charges, unintended medical charges, unexpected hospitalization, health facility allowance, amendment/edition allowance,
  • Transportation allowance for the family can be available on paying additional premiums in the policy.
and

Exclusions

  • Suicides, intake of alcohol and drugs in an excessive amount that leads to self-assault.
  • Involvement in any type of crime, prison, revolution, infringement or social upheaval activities.
  • Air transportation and traveling in airplanes or parachutes, balloons, etc.
  • Participation in motor races, bike races, test drive.
  • Passengers or co-drivers are not covered.
  • Therapeutic treatments or pre-existing or acquired diseases of the insured.
  • Pregnant women, child birth, abortion, miscarriage, or related complications.
  • Disability before the commencement of the policy.
  • Sexually Transmitted Diseases (STDs) such as HIV, AIDS, etc
  • Medical services, treatments are taken from a non-registered hospital or medical practitioner.
  • Wars, nuclear radiation, social upheaval, activities of foreign opponents, social disputes, fights, strikes, military, etc.

Point To Remember Before Buying Group Personal Accident Insurance

All about Group Personal Accident Insurance for your workforce, here are some listed points to remember before purchasing the policy:

  • Go through all the plans offered by various insurance companies and compare them online so as to choose the best among them.
  • The main principle of the policy is to support the income of an employee or his/her family caused due to accident.
  • Check with all your requirements along with the benefits of the policy so that it may not create any trouble in the time of need.
  • The premium amount is dependent on the estimate of risk in the place of work and the level of cover provided.
  • Coverage for injury or death arises because of any disease or illness will not be provided, in spite of the fact that the disease is associated with the job and its nature.
  • Tax benefits under the policy are not applicable, so keep this in mind before purchasing it.

Why Compare Group Personal Accident Insurance With PolicyX?

As an employer of an organisation it is your responsibility to provide security to your employees in every sense. Thinking of purchasing a group personal accident insurance policy, compare a variety of plans with PolicyX. We at PolicyX help you to find out the best plan cater to your requirements as per the circumstances.

  • Compare and choose the most suitable plan to cover your employees in the best possible way away from any accident.
  • Assists you to get every necessary features and benefits in the chosen plan so that not to face any issues at the time of need.
  • A number of plans are available online but PolicyX offers you a single platform to carry out an excellent survey in a better and more organised way.
  • The customer support is also available to guide you the most of it, you can contact at PolicyX for more information.
  • Easy availability of quotes from different insurance companies by providing basic details at zero cost.

Claim Process of Group Personal Accident Insurance

In case of an accident, the employee needs to inform the employer and the insurance company and follow the procedure to file a claim . Let us look at the following steps during a claim for Group Personal Accident Insurance policy:

Death Claim

  • The employee has to immediately inform the insurance office about the incident via any contact mode.
  • After informing, make a claim and fill all the necessary details with the death certificate, other required documents, FIR report, and the policy document.

Harm Claim

  • Intimate the insurance company about the accident.
  • Do not forget to file an FIR at the police station.
  • Submit the necessary details with the FIR.
  • A document in the form of a medical certificate will be required as proof of disability.
  • Also, the other certificates should be submitted by the insured, such as medical prescriptions and receipts of payment for the various expenses.

Documents Required During A Claim

During a claim there are some necessary documents you will be required to submit to get the benefits of the policy:

For Disability Claim

  • Claim form with filled details and information.
  • First Information Report (FIR) provided after enquiring in the police station, if any.
  • Health check-up reports related to the treatment.
  • Disability certificate provided by the government or hospital (permanent disablement).
  • Certificate for leaves provided by the company (total permanent disablement).
  • Prescriptions, bills, receipts and statements provided by the doctor or hospital.
and

For Death Claim

  • Claim form with filled details and information.
  • First Information Report (FIR) provided after enquiring in the police station.
  • Forensic scientific or autopsy report after death.
  • Certificate of death.
  • Monthly payment or salary slips of the employee (at least 3 months).
  • Mail/correspondence message or letter from the employer or HR of the organisation.

FAQs

If you are running a business, then you must purchase this policy because it will provide safety and security to your employees in cases where they met with an accident. Also assuring their family that the company will take care of the medical expenses.

The policies do not have any set time period for claiming the benefits. An employee can claim for the benefits as and when needed after an accident along with the necessary details and documents required.

Many add-on benefits are available in the plan such as allowance for children’s education, transport for family, modify sum assured, restoration of death remains.

No, the income tax benefit is not applicable to this policy, in fact, no tax benefit is available in the policy.

No, it is not possible to include them in the plan as it is available only for a group of people working in the same organisation.

Last updated on 24-09-2019