Hardworking employees are amongst the most valuable assets a competitive business can have today. This is why it has become so necessary to take care of their needs and welfare. In a competitive business scenario, along with preparing for the unexpected in operations, you need to consider protecting your employees. So let’s get to know […]
Articles Tagged: Group Personal Accident Insurance
Accident insurance policies provide worldwide coverage
Published in Mint on May 10 2016, Written by Abhishek Bondia What is a cost of living rider? Can this be added to my health insurance policy? —Anshita Sharma There are two kinds of cost of living riders. The first is a benefit to account for inflation. Several health insurance products factor this in by […]
Group personal accident insurance
Q1. What is Group Personal Accident Insurance? Group Personal Accident Insurance policy provides your beneficiary with a benefit in the unfortunate event of your accidental death and disability. It covers the following injury or death due to accidents: 1. Accidental Death: It provides for payment of compensation on the insured person’s death caused by bodily […]
What Is Repatriation and Family Transportation Allowance in Group Personal Accident Policy?
Repatriation allowance and family transportation allowance are additional benefits available in a group personal accident policy (GPA). They refer to the benefits as given below: Repatriation Allowance GPA policies are generally applicable throughout the world, and as such in the case of death in any foreign location repatriation will be required. GPA policy may cover […]
You may include in-laws in family floater plans but not domestic helps
Published in Mint on 28th May 2017. Written by Abhishek Bondia Can I buy a family floater medical insurance policy for my wife, children, and parents as well as my in-laws? I live in Ghaziabad and as my wife is an only child, I share the responsibility of her parents as well. Also, for the […]
What is the importance of group personal accident insurance for employees?
Considering the rise in the number of accidents, many organizations offer group personal accident insurance to their employees. Companies either offer it free of cost or charge nominal premium rates. Why is a group personal accident insurance important A group personal accident insurance is important for employees because of the following reasons: Gives financial security […]
What Kind of Modifications To The Living Conditions Are Covered By The Group Personal Accident Policy?
This is one of the additional features offered by many group personal accident (GPA) policies. Under this provision, the insurer refunds the amount spent on modifications to the house and vehicle of the insured provided: The insurer accepts the claim for permanent total disability or permanent partial disability for the insured The modifications have been […]
What is Children Education Allowance in Group Personal Accident Policy and When is it Paid?
Employees are one of your biggest assets as your success depends on them. While, you have bought group term insurance and group health insurance to give financial security to their families after their death and also cover them against rising medical expenses, what if they don’t die but become disabled? To combat such issues, it […]
What Is The Limit Of Coverage For Medical Expenses Under Group Personal Accident Plans?
Limits for all the benefits payable under the group personal accident plan are defined separately within the group plan. However, in case of multiple benefits being paid, the total of such benefits does not exceed the sum insured for the member. In a GPA plan, medical expenses are payable for both inpatient and out-patient treatments, […]
Want To Buy Best Group Personal Accident Insurance – Here Are Some Tips
Buying group personal accident insurance is an important employee benefits decision of the employer. It does not provide any financial benefit to the employer. But it offers a sense of financial security to employees against unforeseen incidents like accidents. Various factors need to be taken into consideration in order to avail of the best group […]