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Group Personal Accident Insurance

The uncertainty of life is what makes us anticipate the aspects of financial security for the family. Accidental deaths do irrecoverable damage to the family. However, with the right kind of life insurance, the aspect of financial security for the family may be taken care of.
Group Personal Accident Insurance is a branch of life insurance that extends the financial coverage in the events of death and disability to its members.

Group Personal Accidental Insurance is available as corporate group insurance for employees, members of collective, board members of a company and members of Hindu Undivided Family. Besides death and disability benefits in the event of an accident, Group Personal Accident Insurance additionally offers coverage for carrying the mortal remains of the deceased. The insurance plan also extends coverage for medical expenses and also provides an option for on-duty and off-duty covers.

Who Needs Group Personal Accident Insurance

An employee of a company, students in schools and colleges, board members of the company or members of any such collective are eligible to buy Group Personal Accident Insurance. Group Personal Accident Insurance provides the option of customization of the insurance plan. The buyer may decide to choose additional coverage for all or selected members in the group. The policy can be availed by anyone from 5 years to 70 years of age.

The buyer can also get discounts based on the number of members insured under the group insurance plan. Therefore, with Group Personal Accident Insurance, insurance is made simpler, cheaper and suitable to the requirements of everyone in the family.

Key Features of Group Personal Accident Insurance

Group Personal Accident Insurance is a suitable collective coverage for several people, associated with each other as a member of a group. Therefore, this type of insurance has features that make it stand out from personal accident insurance plans available for individuals. 

The myriad key features of Group Personal Accident Insurance are listed down in the points below: 

  • Group Personal Accident Insurance provides worldwide coverage to all members in a collective 
  • Death benefits and benefits for temporary and permanent disabilities for the insured 
  • Transportation and carriage of mortals remains offered as additional coverage in the event of death 
  • Option for choosing on-duty and off-duty coverage 
  • Coverage of medical treatment offered as an extension 
  • Hassle-free and fast documentation 
  • The insurance can be available by the members of institutions, society or club 
  • Discounts as per the number of members in a group

Benefits of Group Personal Accident Insurance

Group Personal Accident Insurance offers a more diverse range of benefits as compared to general accidental insurance policies. Some of the benefits of Group Personal Accident Insurance are listed below:

  • Accidental Death Benefit that pays 100% of the sum assured in the event of accidental death of the insured.
  • Permanent Total Disability that pays 100% of the sum assured in the event of loss of two limbs and two eyes or one limb and one eye and 50% of the sum assured in the event of loss of one limb or one eye.
  • Permanent Partial Disability yields 2-60% of the sum assured as per the terms of the policy agreed upon by the buyer under the condition that the disability continues for 12 months.
  • Medical Reimbursement in case of hospitalization incurred due to an accident or injury.
  • Carriage of Mortal Remains to the hospital, residence or cremation group would be reimbursed as an additional benefit to the policy.
  • Educational Benefits includes the cost of education for the children in case of permanent disability or accidental death of the employee.
  • Ambulance Charges are disbursed in case the insured meets an accident and is taken to the hospital.
  • Weekly Benefits are offered for a temporary period in the event of complete disability due to an accident.
  • Broken Bones pays out a lump sum in the event of broken bones due to an accident or injury.

Group Personal Accident Plan Cover

Group Personal Accident Plan comes with a plethora of coverage that serves the insurance requirements of a group of people. The coverage of group personal accident plan cover is listed below: 

  • Accidental Death Benefit offers the entire sum assured in the event of accidental death. 
  • Permanent Partial/ Total Disability 
  • Ambulance Charges 
  • Weekly Benefits 
  • Transportation of Mortal Remains 

Additional coverage like medical reimbursements may be availed. The buyer can also customize the policy to offer certain specific coverage for particular people in the group.

Exclusions in the Group Personal Accidental Plan

Just like other insurance plans, Group Personal Accidental Plans come with a set of coverage exclusions. It would mean that the insurance plan would not pay out should any of the cases mentioned as exclusion play out.

The exclusions in the Group Personal Accident Policy are as follows: 

  • Natural death 
  • Violation of law 
  • Pregnancy and childbirth 
  • War and nuclear perils 
  • Radioactivity and Iodizing radiation 
  • Injury caused under the influence of alcohol or drugs

Top Group Personal Insurance Plans

There are a bunch of Group Personal Insurance Plans available in the market which may be inspected by the buyer to make a better purchase decision. For a more comprehensive understanding of Group Personal Insurance Plans, let us consider some of the top plans in the market. 

How to Choose Suitable Group Personal Insurance?

Group Personal Insurance Plans are offered by myriad insurance service providers in the market which makes the selection of the most suited policy for your requirement a bit tricky. The key to selecting a suitable Group Personal Insurance Plan, like any other insurance policy, is comparing plans with one another. Take note of the coverage, premium, and frequency of premium payment and exclusions of the policy under consideration before you zero in on a particular insurance plan.

Policy

Features

Benefits

Exclusions

Baja Allianz Global Personal Guard Policy
  • Provides a global coverage
  • Lifestyle modification benefit
  • Covers the entire family
  • Additional coverage such as sports cover, air ambulance services etc.
  • Accidental death
  • Permanent partial disability
  • Permanent total disability
  • Transportation of mortal remains
  • Funeral Expenses
  • Lifestyle Modification Benefit
  • Fracture Benefit
  • Travel expenses benefit
  • Attempted suicide or self-inflicted injury
  • Mental illnesses or disorder
  • Participation in motor racing
  • War invasion and civil unrest
  • Pre-existing diseases
  • Pregnancy-related consequences
  • Accidents or injury under the influence of alcohol or drugs.
Aditya Birla Group Active Secure 
  • Offers two categories of coverage: the base cover and the optional cover
  • Global emergency medical assistance
  • Benefit of customization
  • Lump sum claim benefit in the event of death or partial/ total disability during an accident
  • Option to choose the type of hospital room
  • Tracking of health via Activ Health App
  • Returns as incentive for living a healthy life.
  • Accidental death
  • Permanent partial disability
  • Permanent total disability
  • Temporary  total disability
  • Road ambulance cover
  • Recovery benefit
  • Burns and broken bones benefit
  • Out-patient expenses
  • Attempted suicide or self-inflicted injury
  • Mental illnesses or disorder
  • Pre-existing diseases
  • Pregnancy-related consequences
  • Accidents or injury under the influence of alcohol or drugs.
Chola MS Group Personal Accident Insurance 
  • Sum insured as per the earning capacity of each member
  • Children’s education benefit
  • Coverage for terrorism
  • Accident weekly benefit
  • Accidental death
  • Permanent partial disability
  • Permanent total disability
  • Transportation of mortal remains
  • Modification of house and own vehicle
  • Funeral Expenses
  • Lifestyle Modification Benefit
  • Fracture Benefit
  • Weekly compensation benefit
  • Travel expenses benefit
  • Attempted suicide or self-inflicted injury
  • Natural death
  • Mental illnesses or disorder
  • Participation in motor racing
  • War invasion and civil unrest
  • Pre-existing diseases
  • Pregnancy-related consequences
  • Accidents or injury under the influence of alcohol or drugs.
Digit Group Personal Accident Policy 
  • Global coverage
  • Policy tenure up to 5 years
  • Add-on covers available for additional premium
  • Coverage available for adventure sports
  • Sum assured in the event of disappearance or drowning
  • Other additional benefits like loss of income benefit, children education benefit, marriage expenses for children benefits
  • Critical illnesses cover
  • Attempted suicide or self-inflicted injury
  • Mental illnesses or disorder
  • Cosmetic or plastic surgery
  • Pre-existing diseases
  • Pregnancy-related consequences
  • Accidents or injury under the influence of alcohol or drugs.
HDFC Ergo Group Personal Accident Insurance 
  • Health check-up not required
  • No maximum age ceasing cover
  • Medical insurance premium payment benefit
  • 24×7 claim assistance
  • Accidental death
  • Permanent partial disability
  • Permanent total disability
  • Transportation of mortal remains
  • Medical insurance premium payment
  • Children’s education fee payment
  • Reconstructive surgery following an accident
  • Attempted suicide or self-inflicted injury
  • Natural death
  • Mental illnesses or disorder
  • Participation in motor racing
  • War invasion and civil unrest
  • Pre-existing diseases
  • Accidents or injury under the influence of alcohol or drugs.

Claims Process of Group Personal Insurance

The steps in the claims process of Group Personal Insurance Plans are as follows: 

  • Initiation of the Claim
    The initiation of the claim process begins with intimation to the insurance provider via call or mail following which the insurance company registers the claim. The insurance company then sends the claim form to the insured along with the checklist of all documents required for the process. 

  • Claim Processing
    This process includes the verification of the claim documents. In case the received claim documents are incomplete, the policyholder is informed via call, email or SMS. After all, necessary documents have been received; the process of claims is processed as per the policy’s merit. 

  • Settlement of Claims
    After the company has received all relevant documents with the claim form, duly filled, the claim is processed and the cheque is prepared to be sent to the beneficiary. In the event of the rejection of the claim, a cheque is sent to the beneficiary or point of contact from the claim settlement team. 

Documents Required for Claim

The process of claim settlement is generally simple. However, the process of claim settlement is segregated into two parts: Documents required for death claim and Documents required for disablement claim. 

Documents Required for Death Claim 

  • Claim form 
  • Death certificate 
  • Police FIR 
  • Succession certificate certifying legal inheritor status
  • Letter from the HR of the organization 
  • Salary slip 

Documents Required for Disablement Claim 

  • Claim form
  • Copy of FIR to the local police
  • The medical report that reflects the medical condition 
  • Disability certificate in case of permanent disability 
  • Statement given by attending physician

FAQ's

Unlike other personal insurance plans which provide tax exemptions on the annual premium paid, Group Personal Accident Insurance does not come with any such exemptions.

Yes, since Group Personal Accident Insurance provides worldwide coverage, you will be covered for the expenses you meet in the event of an accident abroad.

One of the major advantages of Group Personal Accident Insurance is that you can get discounts as per the number of members insured under the plan. Therefore, you can get greater discounts on the premium and make better savings if you decide to shift your insurance plan to a Group Personal Accident Insurance policy.

No, the Group Personal Accident Plan does not cover suicide. If you are looking out for policies that payout in the event of suicides, you may search for a suitable term insurance plan.

The compensation for permanent partial disability is often a certain percentage of the sum assured. The percentage varies from one policy to the other. Therefore, it is only wise to compare policies pertaining to their payouts towards aspects such as partial disability.

No, Group Personal Accident Insurance only covers death from accidents or injury. It does not cover natural death.