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.