Group Personal Accident Insurance
Group Personal Accident Insurance offers financial protection to employees or members against injury, disability, or death due to accidents.
- Death
- Permanent Total Disability
- Temporary Total Disability
What is Group Personal Accident Insurance?
Group Personal Accident Insurance provides financial compensation and benefits to a group of individuals, typically employees or organization members, in case of accidents causing injury, disability, or death. Employers or organizations purchase this policy to ensure the safety and financial security of their members.
What We can get you Covered Under Group Personal Accident Insurance ?
Death
Coverage that pays a benefit to the beneficiary in the event of the insured person's accidental death.
Permanent Total Disability
A benefit paid when an accidental injury results in the insured person being completely unable to engage in any occupation or work.
Permanent Partial Disability
Compensation for a permanent partial loss of function or use of a part of the body due to an accident.
Temporary Total Disability
Payment provided when the insured person is temporarily unable to work due to an accidental injury.
Accidental Medical Expenses
Reimbursement for medical expenses incurred as a result of an accidental injury
Hospital Confinement Allowance
A daily cash benefit provided for each day the insured person is hospitalized due to an accident.
Transportation of Mortal Remains
Coverage for the cost of transporting the insured person's body to their home in the event of death.
Ambulance Charges
Payment for the cost of ambulance services needed to transport the insured person to a hospital following an accident.
Education Benefit/Children’s Education Grant
Financial support for the education of the insured person's dependent children in the event of the insured’s death or disability.
Repatriation of Mortal Remains
Coverage for expenses related to returning the insured person's remains to their home country if death occurs abroad.
Funeral Expenses
A benefit to cover funeral and burial costs following the insured person's accidental death.
Loss of Employment
Financial support provided if the insured person loses their job as a result of a permanent disability caused by an accident.
Medical Expenses Extension Cover
Additional coverage for medical expenses incurred due to an accident, beyond the primary health insurance.
Baggage Delay
Compensation for necessary expenses incurred due to a delay in receiving checked baggage during travel.
Baggage Loss (Common Carrier)
Reimbursement for lost baggage when traveling with a common carrier (e.g., airline).
Coma
A lump sum benefit paid if the insured person falls into a coma due to an accidental injury.
Overseas Accident Medical Expense
Coverage for medical expenses incurred due to an accident while traveling abroad.
Overseas Personal Liability
Protection against legal liability for accidental injury or damage to property while traveling overseas.
Bail Bond
Coverage for bail bond costs if the insured person is detained following an accident while traveling.
Hospital Cash Plan/Daily Cash Allowance
A fixed daily benefit provided for each day the insured person is hospitalized.
Orphan Benefit
A lump sum payment made to the insured person's surviving dependent children if both parents die in an accident.
Mysterious Disappearance
Coverage for loss when the insured person or their belongings disappear under unexplained circumstances. Treatment outside India Coverage for medical treatment received outside of India due to an accident.
Out Patient Department (OPD) expenses
Reimbursement for medical expenses incurred for outpatient treatment due to an accident.
Loss/damage to School Bag/Books
Compensation for the loss or damage of the insured person's school bag or books due to an accident.
Widowhood cover
Financial support for the spouse of the insured person in the event of their accidental death.
Travel Expenses for Medical Treatment
Coverage for travel expenses incurred while seeking medical treatment following an accident.
Catastrophe Evacuation
Coverage for emergency evacuation expenses in the event of a natural disaster or other catastrophe.
Critical Illness Cover
A lump sum benefit paid upon the diagnosis of a specified critical illness resulting from an accident.
Family Transportation Benefit
Coverage for travel expenses of family members to visit the insured person following a serious accident.
Special Free Benefit for transportation of the body
An additional benefit to cover the cost of transporting the deceased insured person’s body.
Cost of Clothing damaged in the Accident
Reimbursement for clothing damaged during the insured accident.
Daily Cash Allowance
A daily benefit provided for incidental expenses during hospitalization.
This comparison highlights key differences between private and public insurers, aiding customers in making informed decisions based on their specific needs and preferences.
What is Not Covered (Exclusions) Under Group Personal Accident Insurance ?
Suicide, attempted suicide, or self-inflicted injury or illness.
Under the influence of liquor or drugs.
Committing any breach of law with criminal intent.
Engaging in aviation or ballooning, other than as a passenger.
Participating as the driver, co-driver, or passenger of a motor vehicle during motor racing or trail runs.
Naval, military, or air force operations.
Venereal or sexually transmitted diseases.
HIV and/or any HIV related illness including AIDS.
What is Not Covered (Exclusions) Under Group Personal Accident Insurance ?
Suicide, attempted suicide, or self-inflicted injury or illness.
Under the influence of liquor or drugs.
Committing any breach of law with criminal intent.
Engaging in aviation or ballooning, other than as a passenger.
Participating as the driver, co-driver, or passenger of a motor vehicle during motor racing or trail runs.
Naval, military, or air force operations.
Venereal or sexually transmitted diseases.
HIV and/or any HIV related illness including AIDS.
War, civil war, invasion, act of foreign enemies, rebellion, revolution, insurrection, mutiny, military or usurped power.
Nuclear energy, radiation.
Participation in hazardous activities such as racing, bungee jumping, parasailing, ballooning, skydiving, etc.
Services not recommended by a physician.
Participation in aviation other than as a fare-paying passenger.
Ionizing radiation or contamination by radioactivity.
Consequential losses of any kind or their actual or alleged legal liability.
Misrepresentation, mis-description, or non-disclosure of any material fact.
Coverage Comparison of some Insurers
| Coverage |  |
 |
 |
 |
 |
 |
|---|---|---|---|---|---|---|
| Death | Yes | Yes | Yes | Yes | Yes | Yes |
| Permanent Total Disability | Yes | Yes | Yes | Yes | Yes | Yes |
| Permanent Partial Disability | Yes | Yes | Yes | Yes | Yes | Yes |
| Temporary Total Disability | Yes | Yes | Yes | Yes | Yes | Yes |
| Accidental Medical Expenses | Yes | Yes | Yes | Yes | Yes | Yes |
| Hospital Confinement Allowance | Yes | Yes | Yes | Yes | Yes | Yes |
This comparison highlights key differences between private and public insurers, aiding customers in making informed decisions based on their specific needs and preferences.
See all
Coverage Comparison of some Insurers
| Coverage | |
|
|
|
|
|
|---|---|---|---|---|---|---|
| Death | Yes | Yes | Yes | Yes | Yes | Yes |
| Permanent Total Disability | Yes | Yes | Yes | Yes | Yes | Yes |
| Permanent Partial Disability | Yes | Yes | Yes | Yes | Yes | Yes |
| Temporary Total Disability | Yes | Yes | Yes | Yes | Yes | Yes |
| Accidental Medical Expenses | Yes | Yes | Yes | Yes | Yes | Yes |
| Hospital Confinement Allowance | Yes | Yes | Yes | Yes | Yes | Yes |
| Transportation of Mortal Remains | Yes | Yes | Yes | Yes | Yes | Yes |
| Ambulance Charges | Yes | Yes | Yes | Yes | Yes | Yes |
| Education Benefit/Children’s Education Grant | Yes | Yes | Yes | Yes | Yes | Yes |
| Repatriation of Mortal Remains | Yes | Yes | Yes | Yes | Yes | Yes |
| Funeral Expenses | Yes | Yes | Yes | Yes | Yes | Yes |
| Loss of Employment | No | No | No | No | No | No |
| Medical Expenses Extension Cover | No | No | No | No | No | No |
| Baggage Delay | No | Yes | No | No | No | No |
| Baggage Loss (Common Carrier) | No | Yes | No | No | No | No |
| Coma | No | Yes | No | No | No | No |
| Overseas Accident Medical Expense | No | Yes | No | No | No | No |
| Overseas Personal Liability | No | Yes | No | No | No | No |
| Bail Bond | No | Yes | No | No | No | No |
| Hospital Cash Plan/Daily Cash Allowance | Yes | Yes | Yes | Yes | Yes | Yes |
| Orphan Benefit | No | Yes | No | No | No | No |
| Mysterious Disappearance | Yes | No | No | No | No | No |
| Treatment outside India | Yes | No | No | No | No | No |
| Out Patient Department (OPD) expenses | Yes | No | No | No | No | No |
| Loss/damage to School Bag/Books | Yes | No | No | No | No | No |
| Widowhood cover | No | No | No | No | Yes | No |
| Travel Expenses for Medical Treatment | No | No | No | Yes | No | No |
| Catastrophe Evacuation | No | No | No | Yes | No | No |
| Critical Illness Cover | Yes | No | No | Yes | Yes | No |
| Family Transportation Benefit | No | No | No | No | No | No |
| Special Free Benefit for transportation of the body | Yes | Yes | Yes | Yes | Yes | Yes |
Who can buy Group Personal Accident insurance?
Companies and Corporations
Small or medium enterprises, Large corporations, Private limited companies, Public limited companies, Multinational corporations
Business Entities
Partnership firm, Sole proprietorships
Non-Governmental Organizations (NGOs)
Associations and Societies
Professional associations, Trade unions, Cooperative societies, Clubs, Other registered groups
Government and Public Sector Units
Government departments, Public sector undertakings
Educational Institutions
Schools, Colleges, Universities, Other educational institutions
Professional Groups
Chartered Accountants (CA), Architects, Company Secretaries (CS)
Banks and Financial Institutions
Startups
New and emerging businesses
Benefits of Choosing Group Personal Accident Insurance from GoInsureIndia.com
Enhanced Employee Satisfaction and Retention
Demonstrates that the company values its employees’ well-being, leading to increased job satisfaction and loyalty, which can reduce turnover rates.
Attracting Top Talent
Comprehensive accident benefits make the company more attractive to potential employees, helping to attract high-quality candidates in a competitive job market.
Cost-Effective Benefits
Group accident insurance policies are generally more cost-effective than individual policies, providing comprehensive coverage at a lower cost per employee.
Tax Benefits
Companies can avail of tax deductions on the premiums paid for group accident insurance, reducing their overall tax liability.
Cashless Hospitalization
Employees can benefit from cashless treatment at network hospitals, reducing the financial burden during medical emergencies and ensuring quick and hassle-free care.
Benefits of Choosing Group Personal Accident Insurance from GoInsureIndia.com
Enhanced Employee Satisfaction and Retention
Demonstrates that the company values its employees’ well-being, leading to increased job satisfaction and loyalty, which can reduce turnover rates.
Attracting Top Talent
Comprehensive accident benefits make the company more attractive to potential employees, helping to attract high-quality candidates in a competitive job market.
Cost-Effective Benefits
Group accident insurance policies are generally more cost-effective than individual policies, providing comprehensive coverage at a lower cost per employee.
Tax Benefits
Companies can avail of tax deductions on the premiums paid for group accident insurance, reducing their overall tax liability.
Cashless Hospitalization
Employees can benefit from cashless treatment at network hospitals, reducing the financial burden during medical emergencies and ensuring quick and hassle-free care.
Customizable Plans
Employers can tailor group accident insurance plans to meet the specific needs of their workforce, including additional benefits like dental, vision, and mental health coverage.
Legal and Compliance Benefits
Offering health insurance can help companies comply with local labor laws and regulations, avoiding potential legal issues and penalties.
Enhanced Company Reputation
Providing group accident insurance can improve the company’s reputation as a responsible and caring employer, enhancing its brand image and standing in the industry.
Higher Coverage Limits
Group accident insurance can provide higher limits of sum insured and unrestricted coverages that individual policies typically do not offer, ensuring better protection for employees.
Financial Security
Provides financial support to employees or members and their families in case of accidents.
Employee/Member Welfare
Demonstrates the organization’s commitment to the well-being and safety of its employees or members.
Peace of Mind
Offers reassurance to employees or members knowing they are protected against unforeseen accidents.
Ease of Management
Simplifies the administration of multiple individual policies by consolidating them into a single group policy.
Quick Claim Processing
Streamlined claim processing and settlement, ensuring timely financial aid.
Efficient Policy Management
Managed by the employer or group organizer, reducing administrative burdens for individual members.
Pay Premium in Installments
Flexible payment options allow employers to pay the premium in installments, easing the financial burden.
Cost-Effective
The cost is highly negotiable and very economical compared to individual accident insurance plans.
Coverage Customizability
Highly customizable to the specific needs of the group, including additional benefits such as dental and vision coverage.
Customizable Exclusions
Exclusions are negotiable, allowing for waiving or modifying exclusions based on the group’s requirements.
Tax Benefits
Employers can claim tax deductions on the premiums paid, reducing overall tax liability.
Higher Sum Insured Limits
Offers higher coverage limits and unrestricted coverages tailored to the needs of the group.
Extensive OPD Coverage
Possible with higher limits, providing comprehensive outpatient care services.
Claim Handling Through Dedicated Claim Manager
Offers personalized claim handling through a dedicated claim manager instead of a general call center.
Paperless Claim Settlement
Enables paperless claim settlement, eliminating the need to submit original claim papers.
Simplified Claims Process
Group management simplifies the claims process, often with dedicated support from the insurer.
Choice Between Private Insurers & Public Undertaking Insurers
| Parameter | Private Insurers | Public Insurers |
|---|---|---|
| Sum Insured Limit | Mostly provide 5 times of Annual CTC and Remaining few cover up to 7 times of Annual CTC | Can Extend up to 10 times of Annual CTC |
| Enterprise Suitability | More suitable for small & medium enterprises | More suitable for larger enterprises with over 1000 members |
| Premium Cost | Generally more flexible and competitive | Often standardized and less negotiable |
| Claim Settlement | Faster claim settlement with paperless processes in many private insurers | Slower claim settlement with more paperwork requirements in public insurers |
| Policy Customizability | Highly customizable policies | Standardized policies with lesser flexibility in non-traditional coverages |
| Innovative Products | Regularly introduce innovative products like Restore Benefit, Daily Cash, etc. | Less frequent introduction of new products like these |
Choice Between Private Insurers & Public Undertaking Insurers
| Parameter | Private Insurers | Public Insurers |
|---|---|---|
| Sum Insured Limit | Mostly provide 5 times of Annual CTC and Remaining few cover up to 7 times of Annual CTC | Can Extend up to 10 times of Annual CTC |
| Enterprise Suitability | More suitable for small & medium enterprises | More suitable for larger enterprises with over 1000 members |
| Premium Cost | Generally more flexible and competitive | Often standardized and less negotiable |
| Claim Settlement | Faster claim settlement with paperless processes in many private insurers | Slower claim settlement with more paperwork requirements in public insurers |
| Policy Customizability | Highly customizable policies | Standardized policies with lesser flexibility in non-traditional coverages |
| Innovative Products | Regularly introduce innovative products like Restore Benefit, Daily Cash, etc. | Less frequent introduction of new products like these |
| Cashless Facility for medical expenses | Available | Not Available |
| Financial Stability | Financially strong but vary between companies | Generally very stable and backed by the government |
| Market Share | Lesser market share but growing | Larger market share |
Benefits of Taking Group Personal Accident Insurance from GoInsureIndia.com
This comparison highlights key differences between private and public insurers, aiding customers in making informed decisions based on their specific needs and preferences.
How much Coverage Amount could be provided to member of Organisation?
You may easily choose to cover your members for up to 5 times of Annual CTC of Member with any insurer. Few Insurers could provide extend it for up to 10 times of Annual CTC too.
Who is considered as Group under Personal Accident Insurance ?
Any legally recognized group or organization with a minimum of 7 individuals can purchase Group Personal Accident Insurance to provide accident care benefits to its members.
- Companies and Corporations Small or medium enterprises, Large corporations, Private limited companies, Public limited companies, Multinational corporations
- Business Entities Partnership firm, Sole proprietorships
- Non-Governmental Organizations (NGOs)
- Associations and Societies Professional associations, Trade unions, Cooperative societies, Clubs, Other registered groups
- Government and Public Sector Units Government departments, Public sector undertakings
- Educational Institutions Schools, Colleges, Universities, Other educational institutions
- Professional Groups Chartered Accountants (CA), Architects, Company Secretaries (CS)
- Banks and Financial Institutions
- Startups New and emerging businesses
Conditions for Eligibility
- The primary purpose of forming the group should not be to obtain Group Personal Accident Insurance.
- The age of the group does not matter for eligibility.
- There does not need to be an employer-employee relationship.
- Evidence of the relationship between the group and its members is sufficient.
What is minimum count of members in a group to have Group Personal Accident Insurance?
Minimum 7 members
What are the benefits of Group Personal Accident Insurance for employees?
Main Benefits
- Death
- Permanent Total Disability
- Permanent Partial Disability
- Temporary Total Disability
- Accidental Medical Expenses
Additional Benefits
- Hospital Confinement Allowance
- Transportation of Mortal Remains
- Ambulance Charges
- Education Benefit/Children’s Education Grant
- Repatriation of Mortal Remains
- Funeral Expenses
- Loss of Employment
- Medical Expenses Extension Cover
- Baggage Delay
- Baggage Loss (Common Carrier)
- Coma
- Overseas Accident Medical Expense
- Overseas Personal Liability
- Bail Bond
- Hospital Cash Plan/Daily Cash Allowance
- Orphan Benefit
- Mysterious Disappearance
- Treatment outside India
- Out Patient Department (OPD) expenses
- Loss/damage to School Bag/Books
- Widowhood cover
- Travel Expenses for Medical Treatment
- Catastrophe Evacuation
- Critical Illness Cover
- Family Transportation Benefit
- Special Free Benefit for transportation of the body
- Cost of Clothing damaged in the Accident
- Daily Cash Allowance
How does Group Personal Accident Insurance benefit employers?
Group Personal Accident Insurance benefits employers by ensuring financial protection for employees’ families in the event of death or disability. This support demonstrates the employer’s commitment to employee well-being and responsibility, leading to enhanced employee loyalty, satisfaction, and retention. It also aids in attracting top talent and offers tax advantages.
Can family members be included in Group Personal Accident Insurance plans?
Yes, family members can often be included in Group Personal Accident Insurance plans by some insurers.
How are premiums for Group Personal Accident Insurance determined?
- Number of Members The total number of individuals covered under the policy.
- Coverage Amount The sum insured for each member, affecting the overall risk.
- Occupation Risk The nature of the work performed by the insured members, with higher-risk occupations typically attracting higher premiums.
- Claims History Previous claims experience of the group can impact premium rates.
- Optional Benefits Additional coverages and riders, such as medical expenses or family coverage, can increase the premium.
- Geographical Location The location where the insured members are based can influence the premium due to varying accident rates and healthcare costs.
- Industry of Organisation The industry in which the organization operates, as certain industries may have higher associated risks and thus higher premiums.
What happens to Group Personal Accident Insurance coverage if an employee leaves the company?
If an employee leaves the company, they may lose their Group Personal Accident Insurance coverage. Employee may continue coverage subject to mutual agreement between Group & Insurer and part of Policy Conditions.
Can employees customize their Group Personal Accident Insurance plans?
Many Group Personal Accident Insurance plans offer flexible options that allow employees to choose different levels of coverage, add-ons, and additional benefits to tailor the plan to their specific needs and preferences.
Are all Group Personal Accident Insurance plans the same?
No, Group Personal Accident Insurance plans can vary significantly between companies. Each company has its own financial and human resource budget, planning, culture, and policies, which influence the benefits chosen under their Group Personal Accidental Insurance plan.
Is the cashless facility available under Group Personal Accident Insurance?
Yes, like any other Personal Accident insurance policy, cashless facility is also covered under Group Personal Accident Insurance policies for medical expenses payment.
How are new joiners and leavers managed in Group Personal Accident Insurance?
Companies can add new employees and remove those who leave on a monthly basis. New additions are charged on a pro-rata basis, and premiums for leaving employees are refunded on a pro-rata basis, subject to no claims being made by the respective leaving employee.
What are the tax benefits under Group Personal Accident Insurance?
In the case of a group Personal Accident policy for employees, only the employer can claim the premium paid for the group Personal Accident insurance policy as a tax deduction. Employees do not receive income tax exemptions for group Personal Accident insurance provided by the employer. However, if employees contribute to the premium, the insurer may allow tax deductions by including it as part of Form-16 for the employee’s TDS (Tax Deducted at Source).
What are the important variables/cappings to decide before buying group Personal Accident insurance?
Important Variables/Cappings to Decide Before Buying Group Personal Accident Insurance
- Coverage Amount
- Determine the sum insured for each member based on their role and risk exposure.
- Inclusion of Family Members
- Decide if family members will be included in the policy and to what extent.
- Occupational Risk
- Assess the nature of work and associated risks for different employee categories.
- Optional Benefits
- Consider additional coverages such as medical expenses, hospital confinement allowance, and accidental medical reimbursements.
- Exclusions
- Understand and customize the policy exclusions based on organizational needs.
- Geographical Coverage
- Determine if the policy will cover accidents occurring outside the primary location, especially for traveling employees.
- Claim Process and Handling
- Ensure a streamlined claim process with dedicated support for efficient handling and quick settlements.
- Premium Payment Options
- Decide on the frequency of premium payments (monthly, quarterly, annually) and explore options for installment payments.
- Previous Claims History
- Review the organization’s previous claims history to anticipate potential future claims and adjust coverage accordingly.
- Legal and Compliance Requirements
- Ensure the policy complies with local labor laws and industry regulations.
- These variables should be carefully considered and tailored to meet the specific needs of the organization and its members before purchasing a Group Personal Accident Insurance policy.
What is age limit under Group Personal Accident Insurance ?
It may be customised from one insurer to another insurer as per Group Needs.
Can a Group Provide Group Personal Accident Insurance to those employees who are covered under ESIC or EC Act 2010
Yes, it is a additional voluntary benefit that a group chooses to provide their members.
Can an employee make premium to Insurer under Group Personal Accident Insurance ?
Generally it is not allowed but only specific insurers may choose to provide such facility under certain circumstances.
What Information is required from a Group to get Group Personal Accident Insurance Proposals ?
In case of First time Policy – Member list with names, Birth Date, age, gender, relation, Coverage Amount, Group Identification code given to a member and Coverage Amount.
In case of renewal of an existing Policy Member list as specified above for renewal year, Claim Dump & MIS & Summary as per authenticated format of existing Insurer, Active members list under existing policy, Existing Policy Document with annexures or any other information requested by GoInsureIndia.com to get competitive proposal.
Is Group Personal Accident Insurance Product of an Insurer is fixed in coverages/exclusion ?
No, Every Insurer can customise coverage, conditions, exclusion of a proposal subject to agreement in pricing as well.
Can a Group Personal Accident Policy be purchased on an un-named basis, covering members solely based on the total count?
Yes, a Group Personal Accident Policy can be purchased on an un-named basis, which means the coverage is based on the number of individuals rather than specifying names. This type of policy is typically based on the count of members within certain categories or roles within the organization.
What if deceased Employee had other personal accidental life insurances from his/her own?
Personal accidental insurance is basically a benefit based insurance therefore, in case of accidental death, All personal accidental insurance policies whether taken by employer or employee, will pay claim, if cause of accident is admissible in all policies.
Similarly if there are other term life insurances available, similarly above, all term life insurances will also pay claim along with all personal accidental insurances.
What are tax benefits under Group Personal Accidental Insurance?
Premium of a group personal accident insurance plan is treated as an expense deductible from the profit and loss of a company. And so an employer can claim the premiums paid under this plan as a business expense and can claim tax deduction on such expense under Section 37. Employee cannot avail any separate deduction for the same
Is pre-policy medical check up is required in Group Personal Accidental Insurance ?
No
Is accident occurred outside India is covered?
Yes, Personal accidental insurance occurs worldwide there accident occurred anywhere is covered.
Does any deduction happen under claim of Personal Accidental Insurance?
No, Personal accidental insurance are basically benefit based policy which has no claim excess/deductible. Thus, for whatsoever coverage amount, insured is assured for, is paid at event of claim.
Why premium cost is different for every corporate for Group personal accidental insurance?
Personal Accidental Insurance is mostly depends upon Industry of Corporate and work profile of employees. For example, Group Personal Accidental Insurance cost is more costlier for manufacturer, mining , drivers, related industries than IT, BPO, consulting firms. It may also be considered that Blue Collar employees premium cost is always going to be higher than while collar employees.
Group Health Insurance FAQs
Secure Your Team, Strengthen Their Future
Protect your employees or group members from unforeseen accidents with Go Insure India's Group Personal Accidental Insurance. Our policies provide financial security through coverage for accidental death, disability, and medical expenses, ensuring peace of mind while fostering a secure workplace.