Group Personal Accident (GPA)
Group Personal Accident Insurance is a vital component of an employer's benefits package, offering essential protection to employees against unforeseen accidents and their financial repercussions. With the potential for accidents to occur in any workplace, having a comprehensive accident cover in place is paramount for both employers and employees alike.
One of the key advantages of Group Personal Accident Insurance is its flexibility in tailoring coverage to meet the specific needs of employees. Employers have the flexibility to determine the sum assured for each employee based on various factors such as paygrade, designation, profile, or annual compensation. This customization ensures that employees receive adequate coverage that aligns with their individual circumstances.
Furthermore, Group Personal Accident Insurance provides 24*7 worldwide coverage for accidental death, offering peace of mind to employees both during and outside of office hours. In addition to covering medical expenses for injuries such as fractures, which may not be covered under other insurance policies, Group Personal Accident Insurance also extends benefits such as children's education benefit for dependent children of the insured.
Another advantage of Group Personal Accident Insurance is its flexibility in policy administration. Employers have the flexibility to add or delete employees from the policy as needed, with premiums charged proportionately for actual coverage. Additionally, claims are processed efficiently, with a lump sum fixed amount paid out on death or disability typically within 30 days of filing a claim.
At Business Binder, we understand the importance of providing comprehensive protection to your employees. Our Group Personal Accident Insurance solutions are designed to offer robust coverage, flexible policy administration, and prompt claims settlement, ensuring that your employees are safeguarded against the financial impact of accidents both at work and beyond. With our expertise and dedication to customer satisfaction, we're here to support your organization's insurance needs every step of the way.
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Basic Covers
All Accident covers are designed to cover Death and Disability. Unless carefully designed, it may not cover all possible types of disability or may have inferior covers which pay less.
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Flexible and Wide
Group accident covers bought by employers do not restrict cover to only a work-related accident. Claims arising out of any type of accident irrespective of where they happen are covered.
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Medical Benefits
You can buy medical benefit to pay for expenses of Medical treatment arising out of an injury. Medical benefits can also be defined as per each client’s need to pay for the required treatments.
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Extended Covers
A death can cause financial losses which can affect the family over several years. You can buy education allowance for children till adulthood and other covers which provide extra protection.
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Disability Can Devastate
Disabilities can have devastating outcomes including loss of income, lifestyle modifications and alterations. Find out how to make your insurance pay for such increased expenses.
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What are the Exclusions?
There are many exclusions to this policy including accident due to drunken driving or drug abuse, hazardous activity and criminal acts. Know the limitations before you buy.