Group Personal Accident Insurance Services:
Group Personal Accident Insurance Services is a group insurance policy that provide comprehensive financial protection against expenses incurred due to disablement or death resulting from an accident mainly for the employees under corporate group insurance.
Some acts about Group Personal Accident Insurance:
- Accidents are not only deprive one of their physical and mental comforts, but also leave them with a financial burden.
- Not only the accident victim, but also their dependents become helpless at some point after an unfortunate accident as it can bring drastic change in one’s life within no time.
- So, taking a Group Personal Accident Insurance is the best way to ensure their physical protection from an accident and financial security.
- Group Personal Accident Insurance is available for both, the employees and board or owner of a company.
- The terms mentioned in the policy include conditions of disablement or death.
- People who have taken Group Personal Accident Insurance can get benefit for accidental death, medical expenses incurred due to accidents, permanent total disability due to the accident and permanent partial disability caused by an accident
- Coverage for medical expenses and with respect to the loss of income, owing to an accident be it road/air/rail collision, fire, explosion or any other element behind the accident, are covered by this policy.
- Coverage are offered to the insured as well as his family.
- The individual insured and family members are able to get the compensation amount in case of an injury, death, total or partial disability taken place owing to an accident caused by visible, violent, and external means.
- A comprehensive cover for all the expenditures related to accidents are provided under Group Personal Accident Insurance.
- 100 percent of sum insured is paid to the nominee if there is an accidental death of the insured individual.
- The entire sum insured is paid if the insured individual loses vital limbs.
- A specific percentage of sum insured will be provided to the insured member if there is temporary or complete disability.
- Protection against the burns that can arise because of an accident is provided to the insured individual.
- Coverage for stroke and heart attack are also provided by some Group personal Accident Insurance Plans.
- Coverage for the broken bone of an insured due to an accident is also provided.
- Organizations can save your employees from sudden mishaps with dedicated group personal accident insurance policy.
- It is a great way for companies to show that they care for their employees and their families by taking group personal accident insurance plans.
- There is also a provision to customize group coverage to fulfil the needs of the employees.
- The primary health cover is free, and the premiums are paid by the organization. However, the employees are required to pay additional premiums to enhance the coverage of their health insurance plan
Features of Group Personal Accident Insurance:
- Group Personal Accident Insurance can be issued to the group of people with a similar risk profile which can be can be formed by an employer for his/her employees, travel company, organization, banks and other service providers for customers.
- The expenses are covered by the policy and compensation can be given to the group members insured for any injury mentioned in the causes occurred in their lives.
Inclusions of Group Personal Accident Insurance:
The coverage of group personal accident insurance depends totally upon the terms of the plan.
However, the following things are covered by most group personal accident insurance:
An accidental death:
The compensation that is 100 percent of the sum insured is received by the family member of the insured or the nominee in case of accidental death of the insured.
Permanent total disability:
The compensation as per the Sum Insured is paid to the person insured in case of an employee's accident and if that leads to his/her permanent disability that continues for over 12 months.
Permanent partial disability:
2 to 60 percent of the total Sum Insured is paid by the insurer if the insured gets disabled partially depending on the terms of the policy. The SI will only be paid when the disability continues for over 12 months.
Weekly benefits are provided to the insured for a temporary period of time to compensate for the loss of salary due to not be able to work, if he/she is fully disabled.
Ambulance charges are reimbursed if the insured has to be taken to the hospital because of injury.
Mortal remains charges:
All the expenses arisen during the transportation of the insured person's mortal remains to ground or home will be covered by a group personal accident insurance policy.
The policy pays an amount to the insured if he/she gets his/her bones broken or damaged due to accident or injury.
All the hospitalization charges and medical expenses related to the injury can be reimbursed in a group personal accident insurance policy.
The educational costs of the children can be reimbursed by the policy if the insured dies or faces permanent disability.
The insured may need some modifications to the car or in the house to keep them at ease because of permanent disability. Some mount for such expenses are reimbursed by this policy.
Exclusion of Group Personal Accident Insurance:
- Certain aspects are not covered by group personal accident insurance policy. Some of these exclusions are:
- Self-Inflicted Injuries: Self-inflicted injuries or suicide are not covered under group personal accident insurance policy.
- Illegal Activities: Injuries caused while involved in any criminal or illegal acts will not be covered by this policy.
- Intoxicants: Injuries caused because of the influence of intoxicants like alcohol, drugs, etc.
- Maternity-Related Complications: Injury or death caused due to maternity related complications such as childbirth or pregnancy are not covered.
- War Like Situations: Accidents caused because of nuclear weapons, armed forces, etc.
- Dental injuries are are not covered under group personal accident insurance policy.
Benefits of Group Personal Accident Insurance:
- The group accident insurance plan safeguards you against any financial liability that can arise because of disability or death due to an accident which is the key benefits provided by this policy.
- The individuals who are dependent upon the sole bread earner of a family both financially and emotionally are taken care by a group personal accident insurance policy.
- There are various benefits that are provided to the policyholder by the group personal accident insurance. These include:
- The basic responsibility of any business organization can be fulfilled by protecting the employees against any unfortunate events with a group personal accident insurance policy.
- Employees get protected from various unfortunate events that can cause death or permanent disablement to them as the policy understands the importance of employees for any organization.
- Quick claim settlement is assured and the burden of liability of employer can be avoided by paying the claim to the policyholder or his/her nominee.
- Taking a group personal accident insurance policy is crucial in the growth and reputation of an organization as it gives satisfaction to the workers that the employer is concerned about them and is doing its bit to protect them
- Monetary relief to the patient at the time of their treatment in the hospital is one of the major benefits of group personal accident insurance.
Importance of Group Personal Accident Insurance:
- Although, a group personal accident insurance policy is offered by all the general insurance companies, they may not be willing to sell you one as the agents earn a lesser commission on selling these low-priced policies.
- Group Personal Accident Insurance is important for any organization as it is the responsibility of the employer to protect its employee against any unfortunate events.
- Group Personal Accident Insurance provides protection against any unfortunate events that can lead to death or permanent disablement to the insured as it understand that employees are the most important assert of any organization.
- It can be assured that the claim is settled as quick as possible incase of an accidental death, permanent total disability, permanent partial disability, temporary total disability or any other medical expenses.
- The burden o liability o an employer can be avoided by bearing the total expenses incurred incase any employee meet unfortunate events, such as death or accident.
- Loyalty can be build for your organization by purchasing Group Personal Accident Insurance policy for your employee as they feel valued and believe that you care about them.
- A policyholder can claim compensation for various disabilities that may occur after an accident.
- Loss of speech, loss of hearing and loss of eyesight are covered under a group personal accident insurance policy.
- Group personal accident insurance policy covers other expenses, such as ambulance charges, repatriation charges and in case of death even the funeral expenses apart from hospital bills and medical treatment.
- The insurance provider facilitates the home alteration and vehicle modification claims for the policyholder i it is required modify your house for easy living or to have transport that suits your needs to make traveling to work conveniently in the aftermath of an accident.
- The insurance provider will reimburse the transportation cost of family to visit you if you are hospitalised more than 150km from your residence.
- The compensation is received by the family in case of the death of the policyholder.
- The education of the younger children is provided by the insurer in case of the death of the policyholder.
- Either actual tuition fees or 10 percent of the sum insured, whichever is less, will be paid by the insurer.
- The accident victim or their family does not have to bear the mental stress of losing their financial security or worry about managing finances in the future, owing to stopped income because of work loss.
- Unmatched lifestyle support can be provided by preventing the family from getting affected by lack of income with a group personal accident insurance policy.
- Financial support is provided to the family if the insured unexpectedly dies or becomes disabled.
How to Buy Group Personal Accident Insurance Policy?
- You need to navigate to the ‘Group Personal Accident Insurance’ section after visiting the insurance provider’s official website.
- A representative from the insurance company will get in touch with you to discuss about the various policies available and their benefits after you fill out the online application form with your personal details and submit it.
- The application process will be initiated.
- Your group personal accident insurance policy will be sent to your registered email ID after submit ting all the necessary documents and paying the insurance premium.
Documents Required for Group Personal Accident Insurance Claim:
- You will need Insurance claim form, copy of the Police FIR, the post-mortem report of the insured, Death Certificate, a succession certificate or notarized affidavit certifying the legal inheritor status and a letter from the organization's HR if you wish to file a death claim under a group personal accident insurance plan.
- You will need Insurance claim form, copy of the Police FIR, necessary medical reports, Disability certificate from a reputed doctor or a government office (in case of permanent disability) and a statement provided by the attending doctor if you wish to file a disablement claim under a group personal accident insurance plan.
Claiming Group Personal Accident Insurance:
- Your insurance provider need to be informed about the accident. You can inform them by contacting their customer care number or through email.
- The claim will be registered by the insurance provider and the insured need to fill out the claim form and submit all the necessary documents.
- The claim will be processed by the insurer as per the policy terms.
- The claim will be paid to the insured after evaluating your claim document along with your policy coverage by the insurer.
- The insurer will send a rejection letter to the insured or the HR of your organization if the claim is rejected
Enquire for Group Personal Accident Insurance Services Providers Anywhere In India
Getatoz have Group Personal Accident Insurance Services providers at major parts of India including Bhawanipatna, Karaikal, Rath, Robertson Pet, Makhdumpur, Pasan, Bahraich, Achalpur, Vadnagar, Savarkundla, Baharampur, Rajahmundry, Tarbha, Dispur, Nuzvid, Pudukkottai, Maihar, Shahpura, Pondicherry, Cherthala, Gokak, Longowal, Hapur, Kullu, Rayagada, Shahpura, Sasvad, Sira, Medininagar, Panchla, Rayadurg, Neyyattinkara, Pukhrayan, Sangareddy, Srirampore, Khair, Nagercoil, Mahendragarh, Anjangaon, Jhansi, Warisaliganj, Goalpara, Dhubri, Mandi, Adityapur, Reengus, Padmanabhapuram, Pratapgarh, Renukoot, Mariani and other localities of India as well.