Why is group personal accident insurance necessary?
Accidents can happen anywhere at any time. Imagine your employee going through a financial crisis or any kind of anxiety caused due to an unfortunate accident.
A group personal accident insurance ensures employees’ peace of mind by protecting them financially in the event of an accident. This can alleviate concerns about medical expenses and help employees focus on their recovery.
Group accident insurance provides financial protection in the event of accidental injuries, disabilities, or death for employees. Medical expenses, hospitalization costs, disability benefits, and accidental death benefits are provided by GPA (Group Personal Accident) insurance.
By providing this coverage, employers demonstrate their commitment to the well-being and financial security of their employees.
With Pazcare, you need not worry about the protection of your employees, we got you all covered with our comprehensive tailor-made group personal accident insurance policy.
What is a group personal accident insurance policy?
Group personal accident (GPA) insurance is a policy that is issued to a group of people by an organization in order to protect them from physical injuries from an accident.
Your typical group personal accident insurance policy covers hospitalization and permanent/temporary disablement expenses after an accident.
In case of death, the complete sum insured is given to the nominee of the employee.
Getting the best group personal accident policy for employees is your first step to protecting your workforce.
Why buy a group personal accident insurance plan?
Did you know that about 450,000 accidents take place in India annually, of which 150,000 people die
Financial stability for your employees
Accidents are uncertain. The only way to secure and care for your team in these situations is by providing financial stability with group personal accident insurance coverage.
Retention of your workforce
Organizations have experienced a significant increase in their retention rate after providing group personal accident policies to their employees. Top HR leaders believe that offering such benefits establishes organizations as responsible leaders in the market.
Ensures employee well-being
Offering employee benefits like a group personal accident insurance scheme ensures your employees’ well-being. Ultimately, your team feels belonged. A happy mind is indeed a productive mind.
Who should buy a group personal accident insurance plan?
Early Stage Startups
If your employee size is as small as two people, you are eligible to opt for a group personal accident insurance policy. Buying a group personal accident insurance plan for your team will help you scale the organization faster by attracting & retaining great talents.
Small to medium size organizations
Managing insurance becomes challenging when you have more employees. With Pazcare, the addition/deletion of employees and managing employee benefits becomes hassle-free. Put your insurance administration on autopilot today!
Large Organisations
Purchasing a group personal accident policy for your large organization can come at a suitable premium. Our insurance experts at Pazcare, offer personalized solutions that make your insurance journey smooth.
Advantages of group personal accident insurance policy
Complete protection of your workforce
By purchasing comprehensive group personal accident insurance, you’re providing peace of mind for your employees. Some insurance companies provide a combination of group health insurance and group personal accident insurance at a lower premium.
Think large
Covering more employees will help you get a quote at a suitable price. Generally, insurance companies offer good discounts for insuring large numbers of employees.
Accidental coverage
Your group personal accident insurance plan provides you with comprehensive coverage for all accident-related expenses.
Permanent total & partial disability cover
In case an employee meets an accident that causes a permanent total or partial disability for a period of 12 months, the insurer will pay the percentage of the sum insured as compensation to the employee.
Road ambulance cover
Group personal accident insurance policy offers reimbursement for ambulance charges in case the employee meets an accident.
Features of group personal accident insurance policy
Your group personal accident insurance plan provides you with comprehensive coverage for all accident-related expenses.
In the case of a temporary disability, monetary assistance will be provided for 104 weeks to compensate for the loss of pay.
100% of the sum insured is paid to the nominee in case of the accidental death of the insured
What should your group personal accident insurance cover?
Accidental death
The sum insured in group personal accident insurance for employees will be paid to the nominee of the deceased
Transportation charges
Make sure the group personal accident insurance policy you choose covers the ambulance charges.
Disablement fund
Ensure there are provisions where disability is covered, both temporary and permanent under group personal accident insurance schemes.
Things to know before buying a group personal accident cover
Waiting period
There is no waiting period. The policy cover starts from day 1. Don’t let anyone tell you otherwise.
Sum insured
Companies can choose to offer different sum insured amounts based on the designation/CTC of the employees.
Go beyond insurance!
It’s time to level up your insurance game by adding health and wellness plans like therapy, wellness sessions, unlimited doctor consultations, and many more to your group personal accident policy.
Easy claim process
Even though the claim process differs from case to case. Pazcare ensures to help you out at every level of the claim reimbursement journey.
HRMS integration
Pazcare dashboard can be easily integrated with your HRMS to automate endorsements.
Mobile app for employees
Easy access to policy details, inclusion, and exclusions using the mobile application.
Why should you buy group personal accident insurance from Pazcare?
Purchasing the best group personal accident insurance could be a daunting task. At Pazcare, our insurance experts help clients at every step and ensure the best quote at suitable premiums.
Here are some more reasons why you should buy group personal accident insurance from Pazcare.
24x7 Claim support
At Pazcare, we provide hassle-free claim support to our clients 24x7. With our Pazcare app, employees can file and track claims at their fingertips.
Personalized Employee Experience
Employees can easily check what is covered and where are the nearest network hospitals. Either on Desktop or on App - one can raise cashless and reimbursement claims within a click without having to intimate their HRs and admins.
Hasslefree Claims Support
Say hi to Pazcare’s app - employees can now file and track the status of their claims on the go. Chat with our internal claims team 24X7 within the Paz app and get your queries answered then and there.
They love their employee benefits!
You can easily choose and build your benefits package. We have it all.
Prakash
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The Pazcare team was very helpful in helping us with the details and the documents needed for the claim process. Everything about the company is impressive.
Shreya Roy
The Dashboard is very easy to use and additions and deletion have become extremely easy and seamless. Employees have easy access to insurance details on the app
Hemanth Kumar Addada
The dashboard is also very user-friendly with a very good UI/UX.
Vishwanath HY
Dashboard really helps in getting quick response for any queries and reimbursement
Final thoughts
Road accidents are one of the main causes of death in India. A comprehensive group personal accident insurance policy is exactly what you need for the right well-being of your employees.
With Pazcare, we help you in every step of your insurance journey and promise to provide personalized solutions at the best price. You’re just a step away from making your organization an idle place to work. Set up a quick call and our insurance experts shall reach out to you!
Frequently asked questions about group personal accidental policy
What is the minimum number of employees required for group personal accident insurance policy?
According to IRDAI, a minimum of 7 lives is qualified for group personal accidental insurance policy.
How to buy group personal accident insurance online?
In order to buy group personal accident insurance online, just get in touch with Pazcare by submitting the form. Our insurance experts will reach out to you within 24 hours. After understanding your requirements, our consultants will give a short product demo and personalize group personal accident insurance according to your need. Your onboarding process starts within 24 hours after you purchase the policy.
What is not included under group personal accident insurance policy?
There are several cases that are excluded from your group personal accident insurance policy, such as intentional self-injury, suicide, pregnancy and childbirth-related issues, and extreme sports.
Who should buy a group accident insurance plan?
If you're an early-stage start up company, small to medium size organizations, large organizations, you should consider purchasing a group personal accident insurance policy.
Is natural death covered by group accident insurance policy?
No, group accident insurance only provides coverage for accidental death and disability.
How to buy group personal accident insurance online?
Buy a group personal accident policy online using the following steps. Reach out to Pazcare. Our accidental insurance experts will connect with you to understand your policy requirements. Subsequently, our experts will provide you with 10+ quotes from insurers. Select the most suitable offering and proceed with the payment. Once completed, the onboarding process will commence within 24 hours of purchasing the group accidental insurance policy.
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