Group Personal Accident Insurance: Compare, Buy, Renew, & Claim

Benefits Of Group Accident Insurance Policy In India

Benefits of group accident insurance policy in India are:

Coverage against accidental health
Employees who participate in the Group Personal Accident Insurance receive financial protection if they are killed in an accident. If the insured person dies in an accident, the person or people nominated by the insured person will get the agreed-upon sum of money.

Coverage against disabilities
If a person is permanently injured or disabled, Group Personal Accident Insurance provides financial assistance to them and their families. This money helps individuals survive financially while they are unable to work due to an accident-related disability.

Medical reimbursement
Following an accident, employees may request reimbursement for medical expenditures they have incurred. This includes money they spent staying in the hospital after the incident, an everyday allowance for being in the hospital, and the medical expenses they had after leaving the hospital.

Educational Benefit for Children
Group Personal Accident Insurance has another great benefit. If the insured individual dies or becomes permanently disabled, the policy will pay for the education of up to two children. This means that if something tragic happens to the insured employee, the insurance will help cover the costs of the children's education.

Key Features of Group Accidental Insurance Policy

Some features of group accidental insurance policy are:

• It is offered to a group of people who are at risk of the same thing
• This group can be made up of employees by their employer, an organization, a travel company, banks, or other service providers for their customers
• If any of the events listed in the policy result in an injury, the insurance policy covers costs and provides money to the group members who are insured
• It can be implemented anywhere in the world

What Covered Group Personal Accident Insurance Policy?

The things covered under the group personal accident insurance policy are-

1. Accidental Death
   If the insured individual is killed in an accident, the money is given to the selected family member. When purchasing the coverage, it is important to give the nominee information. If you forget, contact your insurance right away.
2. Medical Expenses
   Group Personal Accident Insurance pays the covered person's hospital or daycare treatment fees. It only covers injuries that require hospitalization or nursery treatment. After leaving the hospital for up to 90 days, the policyholder can also receive reimbursement for some medical expenses.
3. Temporary total disability
   Temporary total disability group Personal Accident Insurance provides coverage for accidental illnesses or accidents that temporarily keep the insured from working. As long as the temporary total disability lasts, the policy pays the insured a certain sum.
4. Mobility Support Cover
   Group Personal Accident Insurance offers coverage for mobility assistance. After an accident, it pays for equipment such as wheelchairs, artificial limbs, crutches, dentures, and glasses. The insurer covers the cost of these things.
5. Funeral expenses
   If a policyholder dies in an accident, group personal accident insurance allows for the beneficiary's family to be compensated for funeral costs. This includes the cost of transportation, burial, cremation, and any related expenses.

Things To Consider While Buying Group Personal Accident Insurance

Things to consider while buying group personal accident insurance are:

Coverage: Make sure the policy covers accidents related to your regular activities and includes worldwide coverage if you often travel overseas

Sum insured: Select a policy with a maximum coverage amount that matches your needs, taking into account factors such as your age and potential medical bills

Premium: Look for a mix of coverage and cost, avoiding exceptionally low-priced plans that may not give adequate coverage when you need it

Inclusions: Confirm that the policy covers the most likely accident scenarios

Recompense to the family: Look at the advantages the insurance provides to your family in the event of permanent disability or death as a result of an accident to ensure maximum recompense.

Insurer reputation: Research the insurance company's reputation, including their claim settlement percentage, internet ratings, reviews, and client testimonials, to determine the quality of their service.

Network hospitals: Check the insurer's website to see if it has any trustworthy and reachable network hospitals where you can receive cashless care.

Best Group Personal Accident Insurance In India 2023

Coverage, sum insured, rates, policy duration, and exclusions are all important considerations when deciding on the best personal accident insurance policy in India. Here are a few of the top group personal accident insurance plans for 2023 in India.

1. ICICI Lombard Personal Protect Personal Accidental Plan
2. Aditya Birla Capital Activ Secure Personal Accident
3. Bajaj Allianz Premium Personal Guard Policy
4. Bharti AXA Insurance Smart Individual Personal Accident
5. HDFC ERGO Personal Accident Insurance plan

How To File A Group Personal Accident Insurance Claim?

To avoid unnecessary delays, policyholders should be familiar with the process of filing group personal accident insurance claims. Here's a quick rundown:

Step 1: As soon as possible after the accident, contact customer service at the insurance provider's website or phone number.

Step 2: Provide all required policy documentation.

Step 3: Fill out the claim form completely.

Step 4: Depending on the type of claim (such as death, partial or total disability), provide any additional paperwork that is needed.

Step 5: The insurance company analyses the claim for authenticity

Step 6: If accepted, the payment will be credited to your account.

Step 7: If the claim will be rejected, the corporation may request more documentation, and if not satisfied, the claim may be denied.