Group Personal Accident Insurance Policy

Group Personal Accident Insurance Policy

Group Personal Accident Policy

Group Personal Accident Policy

The policy is applicable to

  • Employees of a Firm/Company ( i.e. with employer-employee relationship)
  • Members of an institution/society/association/club ( i.e. with no employer-employee relationship).

Policies can be issued on named or unnamed basis

The policy covers

Physical loss to an insured person due to an accidental injury anywhere in the world and pays for death or disablement

  • Death -100 % of Sum Insured
  • Permanent Total Disablement – 100 % of Sum Insured
  • Loss of two limbs/ Two eyes or one limb and one eye – 100 % of Sum Insured
  • Loss of one limb or one eye – 50 % of Sum Insured
  • Permanent Partial Disablement – Varies from 1 % to75% of Sum Insured depending on the disablement
  • Temporary Total Disablement  – 1 % of Sum Insured per week subject to a maximum of Rs 5000 per week for a maximum maximum period of 100 weeks

The policy provides for following extensions

On payment of extra premium, medical expenses incurred following an accident can be covered upto 40% of the compensation paid
in settlement of a valid claim or 20% of sum insured whichever is less.

The policy does not cover

  • Any claim in the same period of insurance exceeding the Sum Insured
  • Suicide, attempt thereat, VD, criminal breach of law, influence of liquor/drugs
  • Pregnancy related claim
  • War and nuclear perils
  • Any individual aged between 5 and 70 can be insured under this policy
  • As an added benefit, the policy pays for educational fund for children of the deceased insured person

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Posted in General Insurance.

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