In an unpredictable world where accidents may occur anytime and anywhere, financial security and stability for employees can be achieved through group personal accident insurance. A Group Personal Accident Insurance is a customised single insurance policy that provides financial support to a group of employees in the event of an accident that results in disability, injury, or death.
Inclusions
- Accidental Death
Here, the compensation received by the beneficiaries is included in the case of the death of the insured due to death. - Temporary Total Disability
Here, the compensation received by the insured himself is included in the case of the insured’s temporary total disability due to an accident. - Child Education Cover
This includes the educational benefits for the insured’s children in the event of the insured’s unfortunate demise. - Medical Expenses
This includes medical expenses incurred for the treatment of the insured in the event of an accident, which includes hospitalisation, operations, medicines and other expenses. - Mobility Support Cover
Get mobility aids like a wheelchair, prosthetic limbs, crutches, etc., included in case of permanent disability due to an accident. - Transportation of Mortal Remains
It includes the expense to transport the mortal remains of the insured to their residence in case of death due to an accident. - Funeral Expenses
It includes funeral expenses incurred by the insured’s family on his/ her death due to an accident by his/ her family. - OPD treatment
This includes OPD expenses incurred in case of injuries due to accidents. - Physiotherapy
This includes physiotherapy costs incurred by the insured for rehabilitation required incidental to an accident. - Permanent Partial or Total Disability
This includes compensation to be received by the insured in case of permanent partial or total disability due to an accident.
Exclusions
- Pre-Existing Diseases
Diseases existing before the purchase of the policy are not included. - Self-Inflicted Injuries
Injuries occurred due to self-harm or acts done intentionally are not included. - Mental Illness
Psychological conditions leading to mental illness are not included in the policy. - Hazardous Activities
Injuries that occurred due to hazardous activities such as illegal activities or adventurous sports are not covered. - Bacterial Infections
Diseases due to bacterial infections are not covered. - Non-Accidental Medical Treatments
Medical treatments do not directly happen because accidents are not covered. - Sexually Transmitted Diseases
Diseases occurring due to sexually transmitted diseases are not included. - Drug Substance Abuse
Diseases occurring due to drugs or addiction are not covered. - Criminal Activities
Injuries that occurred due to engagement in criminal activities are excluded. - Pregnancy or Childbirth
Injuries due to pregnancy or childbirth are not included. - War or Attacks
Injuries due to war or attack are not included.
Conclusion
The Group Personal Accident Insurance plays a vital role for an employee in terms of the package. It provides financial security and mental peace to the employees and their family members in the event of accidents. It depicts commitment from the employer to the welfare of the employee, providing him well-being, increasing morale, job satisfaction, and loyalty.
