Group Personal Accident (GPA) Insurance Policy
Accidents are common and when they happen they render a person incapable to work.
This loss of work results in loss of income and if the person suffering an accident
dies, the family suffers a major financial loss. As such, a personal accident policy
is useful as it pays a benefit if the insured suffers accidental death or injuries.
Even a group of individuals might avail a group accident insurance plan which covers
the members of the group against accidental death and injuries. A group personal
accident policy provides a wide scope of coverage against numerous contingencies
which might be caused by an accident. Here are the important features of the plan:
Though the actual coverage granted by a group accident insurance plan varies between
different plans, there are some basic coverage features which are common in almost
all policies. These include the following:
- Accidental death – if any of the insured members face death due to
an accident, the plan pays a lump sum benefit to the bereaved family.
- Permanent total disability – total disability is when the individual
loses both limbs, eyes, etc. and is permanently disabled. A lump sum benefit is
paid in case of such disability.
- Permanent partial disability – losing one limb or one eye, etc. are
examples of partial permanent disability. Such disabilities are also covered by
- Ambulance expenses – group personal accident insurance plans usually
cover the costs incurred in transporting the injured to the hospital through an
- Fractures – many group personal accident policies also cover bone fractures
under their scope of coverage
- Transportation of mortal remains – in case of accidental death, the
cost of transporting the dead body of the member is also covered under the plan.
A group personal accident insurance policy is available only for registered groups.
Groups like employer-employee groups, trade unions, banks and their accountholders,
members of a registered club or associated, etc. can opt for a group personal accident
plan. Employer-employee groups are the most popular group wherein the employer avails
an employee accident insurance policy for the financial well-being of its employees.
The amount of benefit paid depends on the nature of contingency faced. For instance,
in case of accidental death and permanent total disability, 100% of the Sum Insured
is paid as benefit. In case of partial disabilities, however, a portion of the Sum
Insured is paid which is specified in the policy. Ambulance costs, fractures, transportation
of remains, etc. have a pre-defined limit and the benefit paid is the actual cost
subject to a maximum of the pre-defined benefit.
There are some common exclusions which are not covered under the plan. The exclusions
include natural death, suicidal death, pregnancy related injuries, war related contingencies,
Additional optional coverage features
Besides the basic coverage features, many plans also provide additional benefits
like payment of a weekly benefit during the course of recovery, hospital daily cash
allowance, children’s education fund in case of death or permanent disability, coverage
for medical expenses, etc.
A group personal accident policy is a very important cover especially an employee
accident insurance plan. These plans provide coverage in case of accidents and the
resultant injuries. If you are looking for a group accident policy, you can visit
Paybima where you would find numerous options. You can choose one and buy a policy
easily securing your group.