Death of the breadwinner due to accident can cause untold
The Group Personal Accident Insurance covers the employees of the organisation against accidental death and disablement.
The employer can fix the limit of sum insured for the employees based on the salary level of the employees generally around 60 times the monthly salary.
The various optional benefits covered following an accident as defined in the policy are specified below:
1) Death – 100% of the Sum Insured
2) Permanent Total Disablement – 100% of the Sum Insured
3) Loss of both eyes or limbs or one eye and one limb – 50%
4) Permanent Partial Disablement – As per structure given in the policy
5) Temporary Total Benefits – Weekly benefit of 1% of the Sum Insured with a cap on the number of weeks
6) Medical Benefit with a capping in relation to the SI and Claim amount. This is generally available only following a valid claim under any of the above benefits.
GPA Insurance is one of the low cost premium products offering high financial security to the family of the employee in the unfortunate event of accidental death or disablement. So much so that GPA along with GMC has become an implied HR standard for many Employee Benefits across various industries in India namely IT, ITES and services.
Posted by sriyahinsurance on 2011-10-17 13:36:31
Tagged: , Accident , Insurance