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Group Personal Accident Insurance
Secure your employees' futures with Group Personal Accident (GPA) Insurance—your staff's safety net against accidental impairments or death.
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What Is
A Group Personal Accident (GPA) Insurance policy helps protect you and your family financially in case you suffer an accident that results in death or disability. It compensates policyholders in events such as accidental death, loss of limbs or eyes, permanent partial disability, and permanent total disability. Whether your group is large or small, customizable GPA policies can meet the needs of all members. Additionally, discounts are available based on the group's size.
Features of Group Personal Accident (GPA)
- Small to large organizations can avail themselves of GPA Insurance for their employees and board members.
- Coverage includes medical expenses, hospitalization costs, disability benefits, and death.
- In cases of permanent disability or death, an educational fund may be available for dependent children.
- Policy tenures generally last one year.
Who Needs
Registered entities such as companies, associations, educational institutions, and government agencies should have GPA insurance for their employees.
Early Stage Startups Even small startup teams can purchase GPA insurance, an effective tool for attracting and retaining top talent.
SMEs As your company expands, managing insurance and employee benefits becomes increasingly complex. GPA insurance helps you offer excellent medical coverage to your employees.
Large Organizations Large organizations commonly provide GPA insurance to their employees. BimaKavach offers various benefits for such organizations, covering all members uniformly, regardless of age, gender, or position.
Why Get
Accidents are unfortunate events that can financially strain families, especially if the primary breadwinner is involved. GPA insurance provides financial support in such scenarios. It can deliver a lump-sum payment or income replacement, helping cover medical bills, lost wages, or other expenses resulting from the accident. For employers, offering this insurance underlines your commitment to employee well-being and financial security.
Benefits of Group Personal Accident Insurance
Protect your team members from unpredictable life events by offering GPA insurance.
Providing benefits like GPA insurance fosters a sense of belonging among your team, which in turn increases productivity and creativity.
In an age where companies are extending myriad benefits, retaining talent poses a formidable challenge. Group Personal Accident Insurance acts as a strong incentive, enhancing employee loyalty.
Coverages & Exclusions in
Group Personal Accident Claims Example
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This is an article by YouStory written by Palak Agarwal and published on October, 2022
Say hello to a spam-free zone! We respect your privacy, and we won't bombard you with unwanted calls.
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