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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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Coverage worth
50 Lakhs
at just
7,000*
annually

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50+ years of collective insurance experience

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5,000 Cr+ of cumulative risks insured

What Is

Group Personal Accident Insurance?<

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

Group Personal Accident Insurance?

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

Group Personal Accident Insurance?

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

Employee Financial Stability
Employee Financial Stability

Protect your team members from unpredictable life events by offering GPA insurance.

Employee Well-being
Employee Well-being

Providing benefits like GPA insurance fosters a sense of belonging among your team, which in turn increases productivity and creativity.

Employee Retention
Employee Retention

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 Insurance
CoveragesExclusions
Here are some incidents covered under the policy
Accidental Death
If the insured person dies in an accident, the insurer pays the sum insured to the nominee.
Permanent Partial Disability
An employee who becomes partially disabled due to an injury will receive a sum assured, usually ranging from 2% to 60%, depending on the policy terms and conditions.
Permanent Total Disability
If an employee suffers an accident resulting in permanent disability, or a disability lasting at least a month, the employee is entitled to compensation from the insurer. This compensation can be up to the sum insured.
Educational Benefits
Should an employee suffer permanent disability or death, the insurance company will cover the educational expenses for his/her dependent children.
Ambulance Charges
These cover the expenses associated with transporting the injured employee from the accident scene to a medical facility.
Weekly Benefits
A company pays weekly compensation if an employee is fully disabled due to an accident.
Transport of Mortal Remains
The policy reimburses the cost of transporting the deceased from the accident site to a hospital, residence, or crematory.
Bone Fractures
A lump sum payment is made for incidents involving bone fractures. The policy clearly states which types of broken bones are covered.

Group Personal Accident Claims Example

Medical Expense Claim due to Accident at Workplace
ABC Manufacturing Pvt. Ltd., a company with a workforce of 200 employees in Bangalore, opted for group personal accident insurance for its staff. Mr. Vasisth, an employee, unfortunately suffered a severe workplace accident resulting in partial disability. Thanks to the company's GPA insurance policy, Mr. Vasisth received a lump-sum payment per the policy terms, aiding in his medical expenses and financial support during his recovery and rehabilitation.

About Group Health Insurance Policy

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How do you file a cashless claim for Group Health Insurance? Plus Icon

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Your Story
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This is an article by YouStory written by Palak Agarwal and published on October, 2022

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