Group Personal Accident Insurance refers to the group insurance policy designed for the employees under corporate group insurance. It is available for the owner of the companies, board members and employees, which covers the members in case of an accident.
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This insurance policy provides complete financial protection against the expenses occurred due to an accidental death or disablement of the covered employees. However, demise or harm due to any pre-existing diseases is not covered by this policy.
This policy plays an important role in the life of a salaried person because they don’t have to purchase any separate policy to cover any unexpected accidents. This policy can be bought by any company irrespective of the number of employees they have. Also, this policy can be customized according to the needs of the employer.Â
That’s why one should know the policy in detail, especially its claim process. But before digging into deep, let’s know the coverage offered under this policy.
The scope of coverage under Group Personal Accident Insurance is mentioned below:
Now-a-days, organizations are taking extra steps to secure the health and life of their employees. At the time of claim settlement, which are pretty quick in these kind of policies are either paid out to the insured or their nominee and this policy covers all the expenses in the event of any mishappening that results into permanent/partial injury or the loss of life.
There are several points you should keep in mind before buying the Group Personal Accident Insurance Policy:
In case of an accident, the employee needs to inform the employer and the insurance company and follow the procedure to file a claim. There are different procedures for different situations and the documents required are as follows:
The documents required to get the Group Personal Accident Insurance are as follows:
To Conclude
Group Personal Accident Insurance is one of the finest ways for an organization to ensure their employees safety and cover their unwanted expenses as well as earn their trust and respect. Life in unpredictable and it is a good to be prepared for the worse and have a back-up plan to safe-guard your employees’ health and life.
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