Fri. Jun 9th, 2023


Suppose you are an employer operating high-risk jobs or operating a manufacturing concern with a lot of exposure to high-risk operations. In that case, it is better that you buy a personal accident insurance policy to cover the employees to protect their families and financial dependents from any adverse incidents that may befall them. You can always buy personal accident insurance from a traditional insurance company, but purchasing personal accident insurance online would be a better option.

Workplace accidents have a devastating effect on employees, their families, and financial dependents, as they sometimes result in injuries. In some extreme cases, they may also result in the unfortunate death of the employee. As a caring employer, if you provide the benefit of Group Personal Accident Insurance to your employees, you help protect their families from financial distress or educational support for their children.

Benefits of Buying group Personal Accident Insurance Online 

  1. Seamless and smooth process: You only have to fill up the details of the employees and the amount of coverage sought and use online calculators to estimate the online premium payable for a certain level of sum assured. You can pay the Group personal Accident Insurance Premium online and obtain your insurance policy bond online.
  2. Claims processing online: Companies like Plum Insurance facilitate digital, online processing of claims. When the accident has had a devastating effect on the employee and the family, flawless claim processing with the least of the number of hurdles can help ease their mental anguish.
  3. Transparent process: Online insurance companies provide all details such as benefits offered, coverage, renewal terms, features, and claims process. All the details of the inclusion and exclusions from the policy are unambiguously provided upfront. So you as an employer can make an informed decision about your employees.
  4. Cost-Effective: Online insurance policies eliminate mediators, and help source the best deal for your company and your employees with the best coverage cost-effectively.
  5. Presence of online reviews: Past and existing customers’ online reviews give you an idea about the claims processing, service quality of the support services, etc.
  6. Automated services with 24×7 support: The presence of digital services ensures that all activities related to the buying and claims processing of an insurance policy can be done online or over a phone. There is no need to rush to the insurance company’s office to address various issues with the policy.

Coverage of a Group Personal Accident Insurance Policy 

Group Personal Accident Insurance always relates to workplace accidents:

  1. Accidental Death Cover: In the event of the employee’s death in a work-related accident, the total sum assured is paid to his family /financial dependents/nominees.
  2. Permanent Total Disability Cover: If the accident or injury impairs the employee’s working for more than 12 months in succession, he/his family will be paid the total value of the sum assured
  3. Permanent partial disability: If the partial disability results from the accident for a continuous period of 12 months, then the insurance company pays a certain fixed sum based on a slab that contains gradations based on the injury level. Based on these grades, the payout of a certain fixed sum is made.
  4. Medical reimbursement or hospitalisation charges for temporary injuries: A certain percentage of the total medical expenses are paid in some cases.
  5. Ambulance Charges: In case of severe juries where the injured employee has to be taken to hospital by ambulance, the ambulance charges and hospitalisation charges are met by the insurance company under the terms of the Group Personal Accident Insurance policy.
  6. Broken Bones: If broken bones result from the accident, the insurance company is liable to pay for the treatment under the policy terms.
  7. Changes in the lifestyle: In the case of permanent total disablement or permanent partial disablement of the employee, this may necessitate certain changes in the employee’s lifestyle. He may need to live on a lower floor, move to a building with an escalator, make changes in his mode of transportation, etc. In all such cases, the insurance company reimburses the monetary cost up to a specific limit
  8. Death of the employee/policyholder: The insurance company pays for his children’s educational expenses up to a certain limit.
  9. Weekly income: Certain policies also pay for weekly income to the policyholder in case of permanent total disablement. This compensates for the loss of income, and is usually paid for a temporary period.
  10. Transportation of mortal remains: In an unfortunate event if the employee’s death occurs, the mortal remains are transported to the family of the deceased at the insurance company’s cost.

Key takeaways 

Buying a Group personal Accident Insurance Policy to secure the lives of your employees is always a wise decision. You protect your employees and their families’ well-being, provide for the education of your employees’ children in the unfortunate event of an employee’s death, and provide financial succour in their time of need.

Whether you are the owner of an MSME, an SME, and a start-up or operate a large manufacturing concern with many employees, Plum Insurance has a solution. You also reduce your financial exposure and liability when buying Group Personal Accident Insurance. You also earn the loyalty of your employees as they feel cared for and protected. They are secure in knowing that their near and dear ones will be taken care of even if an adverse event happens. Delays are costly. Visit Plum insurance.

Plum Insurance is at your service with hassle-free digital claims processing, 24×7 support, and providing all-around insurance needs.