What is Group Personal Accident Insurance?

If you are the owner of a company and are looking to insure your employees against unexpected medical expenses that may arise due to an injury or death as a result from an unfortunate event at the workplace, then you have reached the right place. A good decision would be to purchase the best small group health insurance plansor group accident insurance plans. Irrespective of your company size, you can buy customizable group accident insurance to meet the requirements of your employees.

Benefits of Having Group Accident Insurance

Many people buy healthcare sharing plans as an affordable alternative to expensive health insurance. Similarly, group health insurance plans are for businesses to cover their employees’ medical expenses. Group personal accident health insurance can be used in emergency situations or for unexpected medical expenses that arise due to accidents at the workplace.

These plans provide benefits such as:

  • Comprehensive coverage: If you purchase the best small group health insurance plans, they will offer extensive coverage against all accident-related expenses.
  • Funds education: In case a policyholder suffers from permanent disability due to an accident, it will cover the education costs of an employee’s child.
  • Pays compensation: In case of an employee’s demise, the insurance plan will provide financial assistance to the nominees in the form of compensation.
  • Weekly benefits: Some group accident health insurance plans also offer weekly benefits. This can be extremely helpful if there is an accident that results in the complete disability of an employee, as the insurance will provide weekly compensation for a certain period.
  • Medical reimbursement: Just like most people buy healthcare sharing plansfor hospitalization and other medical expenses incurred due to an accident, group accident health insurance can also help business owners assist their employees in such scenarios financially.
  • Ambulance charges: The group insurance policy also covers the associated costs of ambulance services.

Inclusions of Group Accident Insurance

  • Wider cover: This insurance plan includes death and permanent, or partial disability resulting from accidents at the workplace.
  • Basic cover: It includes accidental bodily injury that may result in death.
  • Comprehensive cover: Group accidental insurance covers permanent, total, or partial disability, temporary total disability, and death.
  • Repatriation of mortal remains and funeral expenses: The policy also covers transportation costs of the employees’ mortal remains to a hospital, cremation grounds, and funeral expenses.

Exclusions of Group Accidental Health Insurance Plans

The insurance cover does not include:

Natural death, HIV-AIDS, consequential loss, death or injury from drug abuse or alcoholism, expenses resulting from committing or attempting suicide or self-inflicted injuries, expenses rising from injuries in wars, invasions, etc., curative treatments or interventions, pregnancy-related expenses, injuries from adventurous sports or other hazardous activities, and breach of law with criminal intent, treatment costs of individuals in the air force, naval or military operations, and venereal or sexually transmitted diseases.

Final Thoughts

Group insurance health insurance policies have become a must for businesses to cover various expenses arising from accidents and injuries at the workplace. Companies with a well-rounded group of personal accident health insurance can help their employees protect their savings and meet their financial goals due to the comprehensive coverage.

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