What Does A Group Personal Accident Insurance Policy Cover?

Introduction

A group insurance policy becomes eminent as a part of life when working closely with a particular group of people. Whether a corporate MNC or a startup team, the team that sticks together deserves to be insured. For such a working group at a dangerous worksite, like a construction site or a heavy machinery factory, accidents are more likely to occur. A Group Personal Accident Insurance Policy protects them from further financial stress about their injuries and their responsibility towards their families.

How Significant is a Group Insurance Policy for a Company?

  • Most of the time, every group of employees working under you or a group of coworkers working together have their families at home. There can be members who are entirely dependent upon them financially.
  • If they are constantly exposed to dangerous conditions at work, their families might start worrying more about them. This stress affects both the person’s work efficiency and mental health.
  • To help them become more concentrated at work, their employer should provide a group insurance policy. Not only does this help the workers in staying stress-free, but it also reflects in the employment rate of the company.
  • The more the employees feel safe at work, the better would be the company’s reputation. Employees working as a team are likely to be exposed to similar adversities. So, one insurance covering the entire team brings a feeling of belongingness to them.

What All Coverage Does a Group Personal Accident Insurance Policy Give?

Plum Insurance comes with a complete package of the best features stuffed in one group personal accident insurance policy for your employees. Make them feel safe with the vast benefits from this policy as mentioned below:

  • Ambulance Expenses: At the time of an accident, the very first required is an ambulance and paramedics at the disposal. Despite being an emergency requirement, ambulance services do not come for free. This policy also covers this expense.
  • Hospitalisation Expenses: During a mishap, hospitalisation come necessary. Even if the injury does not look severe, it is always recommended to consult a doctor to check for internal bleeding. Hospitalisation comes with the anxiety of long bills and is, therefore, covered in such a policy.
  • Fracture Coverage: Fractures are the most common injuries incurred from an accident. While fractures are mostly not so severe and can be cured with proper rest and care, they can be highly demanding-both financially and mentally. Taking care of a fracture should be given priority. This insurance policy can cover the finances.
  • Weekly Compensation: When you are temporarily disabled, i.e., confined to a bed or a wheelchair during the recovery process, it becomes both a mental and financial burden to take care of a patient. This policy makes it easy to help the person recover properly.
  • Partial Permanent Disability: If you are partially disabled for more than a year after an accident, it is considered a permanent partial disability. In that case, this policy tends to provide a portion of the insurance money to the insured person to continue their treatment with ease.
  • Total Permanent Disability: Worse accident cases can occur where an employee gets disabled after a limb amputation or goes into a state of coma for more than a couple of months. Such cases are total permanent disabilities and are duly covered under this policy.
  • Accidental Death Coverage: The sudden death of an essential earning member in a family can be mentally and financially traumatic. In such devastating cases, the deceased’s nominees and family receive 100% compensation of the total insured amount in a lump sum.
  • Transportation of the Mortal Remains: In accidental spot-death, immediate assistance becomes necessary to move the remains to a cremation or burial ground from the accidental site. Plum Insurance makes sure you do not have to face double the devastation during such a loss and covers the expenses in such a bad situation.
  • Child Care Coverage: It becomes challenging for a child to overcome the trauma of an active guardian’s loss or permanent disability. The least that could be done in such a scenario is by taking responsibility for the child’s education in such cases. During tough times, this policy can come in handy to lighten the burden of a child’s future education.

How Does an Organisation Benefit From Group Accident Insurance?

There can be the following three advantages of providing your employees with a group accident insurance policy:

  • They feel safe and develop a sense of belonging and trust in the organisation they are working for.
  • When employees feel safe and covered under financial assistance, they can work stress-free. This reflects further in their work efficiency and their behaviour during on-duty hours.
  • The word of being covered under a good insurance package policy spreads like wildfire, and more and more people would become eager to work for your organisation. It improves both the reputation and the employment rates in an organisation.

Conclusion

A group personal accident insurance policy is the best safety package any employer can give their employees to encourage them to share their 100% on duty. It helps keep them free from financial stress during adverse events like workplace accidents. Cover them under an accident insurance policy with Plum when a group sticks together to work for you.

 

 

Leave a Comment