Other Employee Benefits
What is Group Personal Accident Insurance?
What does Group Personal Accident Insurance cover?
The amount of coverage will depend on the limits chosen, however, typically, the policy will cover the following:
- Medical Expenses resulting from accident.
- Accidental death and dismemberment or accidents resulting in loss of life, limbs, or eyesight.
- Total Permanent Dismemberment or disability that prevents the insured from working after 12 months.
How important is Group Personal Accident Insurance?
Employees are the most important asset of a company. Thus, a fundamental aspect of businesses is to be responsible and provide protection for employees against any unforeseen events.
Who needs Group Personal Accident Insurance?
Any company that is constantly searching for ways to safeguard their employees against certain risks that can cause death or permanent disablement will find group personal accident insurance exceptionally useful. Essentially, any company that care about the well-being of their staff should strongly consider group personal accident insurance.
How much does Group Personal Accident Insurance cost?
Generally, the premium is relatively economical. However, below are the factors that can influence the cost of a group personal accident insurance.
- Claims history
- Head count
- Work industry
- Plan limits