Group Accident & Disability Insurance

What is Group Accident & Disability Insurance?

Group accident insurance is a type of insurance that is offered to employees (by the employer) to protect them against the medical expenses incurred due to injury or death resulting from an accident at the workplace. Today, the employers worldwide have realized that their workforce is their greatest asset and therefore, are taking every step to keep them protected against uncertainties.

At the workplace, especially if it is a manufacturing unit, the employees are exposed to various risks. To ensure protection to the employees, it is paramount that the employers cover the employees under a group accident insurance plan. It is a win-win situation for both the employers and the employees. While the employees feel protected, the employers get a group discount based on the size of the company at the commencement of group insurance policy.

  1. Comprehensive cover.

The group personal accident policy assures comprehensive protection for almost all expenses due to accident.​

2. Death caused by accident.​

In case, the employee passes away due to an unfortunate incident that occurs at the workplace, the insurance company pays compensation the nominee.

3. Permanent disability​.

If the employee suffers a permanent loss of limbs, the insurance company offers to fund education of the employee’s child.​

4. Ambulance cost.

If the employee needs hospitalization, the group accident policy pays for the ambulance cost.

Although a group accident insurance protects all employees against unforeseen risks, there are some aspects that the policy does not cover. Some of the notable exclusions include:

  1. Self-inflicted injury is not covered under the policy.

2. Injuries caused due to indulgence in any illegal or criminal acts.

3. Injuries/damages sustained while being under the influence of alcohol, drugs or other intoxicating substances.

4. Death or injury due to illness or disease or childbirth or pregnancy.

5. Accident cases due to involvement of nuclear weapons or armed forces or violation of law.

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