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Group Personal Accident Policy
Group Personal Accident Policy Service By MoneyCare Financial Services
What is Group Personal Accident Policy?
Accidents, many times, create serious financial issues for the injured and their dependents. In order to cover such mishaps, a Group Personal Accident Policy is a great option. This policy provides complete cover in the event of death or disablement of the insured due to accidents occurring anywhere in the world.
What does Group Personal Accident Policy cover?
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Benefits of Group Personal Accident Policy:
- Covers the insured in case of loss of life in an Accident.
- Pays a benefit if the insured is permanently disabled in an accident.
- Pays a reimbursement for medical expenses incurred if the insured requires hospitalisation due to an accident .
- Pays a daily benefit if the insured needs hospitalisation as an in-patient following an accident.
- Pays medical insurance premiums for the surviving spouse and dependent child, in case of accidental death of the insured covered under the policy.
- Pays the costs of reconstructive surgery following an accident.
- If death results due to bodily injury or sickness of the insured person, the Company agrees to pay to the Insured Person’s beneficiary or legal representative the Compensation towards the cost of the last rites of the Insured Person.
- Reimburses the costs of medical expenses incurred by an insured person within 12 months of the date of loss resulting from an accident.
- Pays the education fees for the insured person’s dependent child(ren) if an Accident causes the insured’s death within 12 months of the date of loss.
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Why is Group Personal Accident Policy important?
Accidents can not only cause financial trouble for the employee’s family, but it may also affect employers in a way. Hence, employers should ensure the safety of their employees by insuring them with Group Accident Insurance Policy. At the workplace, especially if it is a manufacturing unit, the employees are exposed to various risks. To ensure protection to the employees, it is paramount that the employers cover the employees under a group accident insurance plan. It is a win-win situation for both the employers and the employees. While the employees feel protected, the employers get a group discount based on the size of the company at the commencement of the group insurance policy.
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