What is a Group Personal Accident Insurance Policy?

Any mishap that leads to death or disablement of an employee can impact the finances of the dependents. Group personal accident insurance is a type of insurance for employees that covers accidental death or disability. Group personal accident insurance offers comprehensive protection to the employee against hefty medical expenses incurred due to disablement in an accident. The policy also covers the death of the insured due to the mishap.

Employees are an organisation’s greatest asset, and it is the fundamental responsibility of an employer to keep its employees protected. Hence, to fulfil this fundamental responsibility, employers secure their employees with accident insurance policy to provide financial security to them and their dependents in case of any unforeseen accidents.

Moreover, offering group personal accident insurance acts as an incentive to the employees and shows them that they are valued in the organisation. Hence, it is important for employers to provide group accident guard policy to their employees.

What are the Key Features of Group Personal Accident Insurance?

• Provides accident coverage to multiple people under one policy.
• Premium is either paid entirely or the large sum is paid by the employer.
• The group personal accident insurance policy are renewable on an annual basis.
• Sum Insured based on Salary or Category, as per client requirements The sum insured is paid to the nominee on the death of the covered employee.
• 24X7 cover across the globe, hence the best accidental insurance plan

How does our best accidental insurance plan work?

• A group administrator is issued a master policy upon which he pays an initial premium.
• This initial payment covers all the members of the group for a tenure one year.
• An option to choose the sum assured is provided to the members of the group at the start of the policy.
• All the members are covered for a tenure of one year from the date of commencement of the policy.
• The group PA insurance plans are annually renewable.
• The premium is charged based on sum assured opted
• Additions and deletions of members take place on the monthly basis from the date of joining or relieving of the member.
• Any additional premium left after adjusting addition or deletion of members is refunded to the master policy at the end policy term.