to a group of individuals, generally employees of an organization, in case of accidental injuries, disabilities, or death. It ensures financial support for medical expenses, loss of income, and other related costs.
Key Factors to Consider
When comparing different Group’ Personal Accident Insurance policies, here are the top factors to consider:
Coverage: The extent of coverage is the primary aspect to look at when comparing policies. Ensure the policy covers a wide range of accidents, including minor injuries leading to temporary disability, and severe incidents causing permanent disability or death. Also, check if the policy offers global coverage, which can be critical for employees traveling internationally for work.
Additional Benefits: Some policies offer additional benefits, such as child education support, funeral expenses, hospital cash, or repatriation of remains. While these may not seem essential initially, they can significantly alleviate financial burdens during difficult times.
Exclusions: All insurance policies come with certain exclusions or scenarios where the policy will not provide coverage. Common exclusions may include accidents due to war, civil unrest, intentional self-harm, or participating in hazardous activities. Understand these exclusions to avoid surprises at the time of claim settlement.
Premium: The cost of the premium is a signific