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Group Personal Accident Insurance Policy in India : Get Best and Competitive Quote
Scope and Cover
The insurance provides compensation in the event of death or disability directly due to accident. The policy offers compensation in case of death or bodily injury to the insured person, directly and solely as a result of an accident, by external, visible and violent means.
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Who can take this Policy
Policy can be given to Corporate Body, Institution, Association with number of lives to be covered depend on the norms of insurance companies.
General Coverage under this Policy
This policy covers compensation to the insured person who suffers bodily injury solely as a result of an accident which is external, violent and visible. Coverage is effective 24 hours and worldwide.
- Death cover wherein 100% of the capital sum insured is payable.
- Loss of two limbs / both eyes / one limb and one eye wherein 100% of the capital sum insured is payable.
- Loss of one limb or one eye wherein 50% of the capital sum insured is payable.
- Permanent Total Disablement other than above e.g. paralysis due to an accident, wherein 100% of the capital sum insured is payable
- Permanent Partial Disablement i.e. where a part of the body becomes permanently disabled due to an accident, e.g. total and irrevocable loss of use of a finger due to an accident. In such cases, a percentage of the capital sum insured as specified in the policy is paid.
- Temporary Total Disablement i.e. where the insured person becomes temporarily disabled from undertaking any work as a result of an accident for e.g. fracture of legs. In such cases, a weekly payment of 1% of the capital sum insured subject to a maximum limit, is paid for the number of weeks or part thereof, during which the insured person is totally disabled.
Additional Coverages available under this Policy
- Weekly compensation benefits
- Medical expenses reimbursement benefit.
Major Exclusions
- Intentional self injury
- Suicide or attempted suicide
- Death or disablement resulting from child birth and pregnancy
- Accident while the insured is under the influence of intoxicating liquor or drugs
- War and allied perils
