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.
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
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!
Applies to employees going abroad for work purposes including those staying outside of the country and working for India.
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.
|Name of the Plan||Features & Benefits||Do Not Cover|
|TATA AIG Group Personal Accident Insurance Plan|
|ICICI Lombard Group Personal Accident Insurance Plan|
|SBI General’s Group Personal Accident Insurance Plan|
|Royal Sundaram Group Personal Accident Insurance Plan|
|HDFC ERGO Group Personal Accident Insurance Plan|
All about Group Personal Accident Insurance for your workforce, here are some listed points to remember before purchasing the policy:
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.
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:
During a claim there are some necessary documents you will be required to submit to get the benefits of the policy:
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