Group Personal Accident Insurance (GPA)
This policy pays compensation in case of death or bodily injury to the insured member of the group solely due to an accident. There are various options available under this policy varying from cover for death due to accident, permanent partial disablement, temporary total disablement, etc.
The personal accident policy provides the following coverage:
- Accidental Death – The Sum Insured is paid to the nominee of the insured.
- Accidental Disability – The Sum Insured or a part of it, depending upon the extent of disability, is paid to the insured on loss of limb/s in case of an accident. This benefit can cover both Permanent Total Disability (PTD) and Permanent Partial Disability (PPD)
- Loss of Pay – In case the insured is bed ridden due to an accident and is not able to attend office, the policy pays 1% of the Sum Insured as compensation upto 104 weeks. The benefit is also called ‘Weekly Benefit’ or ‘Temporary Total Disability’
- Medical Expenses extention (Optional) – The policy reimburses medical expenses incurred on treatment incase of an accident.
Highlights
- Accidents mean anything, which is unforeseen, and therefore cover all types of accidents including road accidents.
- It is a 24 hours world-wide cover.
