As an employer and business owner, one of your top priorities should be to safeguard your most important asset – your employees. The Group Personal Accident Insurance offers you the possibility to do so.
What is Group Personal Accident Insurance?
It is cheaper for a business to purchase one policy than several, and this is where a Group Personal Accident Insurance cover comes into play. Rather than individuals covering themselves under separate policies, Group Personal Accident Insurance covers everyone under the same policy.
A Group Personal Accident Insurance Policy has the following characteristics:
- Issued to a group of people with similar risk profile
- Group can be formed by an employer (of employees), organisation, travel company, banks, and other service providers (for customers), etc.
- The insurance covers the expenses and compensates the insured group members for any injury sustained in the course of their lives (except injuries obtained due to excluded causes)
What does it cover?
The general benefit includes the following:
- Accidental Death
- Medical Expenses arising out of accidents
- Permanent total disability due to an accident
- Permanent partial disability due to an accident
How do I, as a business, benefit from this?
Other than proving that your business cares about your employees, the Group Personal Accident Insurance covers medical expenses for your employees in case of injury. It also helps to mitigate the financial effects of the loss of your employee’s services if they suffer an accident. Additionally, it assists your business in attracting new recruits.
What else do I need to know?
To provide coverage for your employees under this insurance, you should submit the name and ID of all the persons to be covered. As an employer, you’re also eligible to be insured under this policy! Accidents do not come with a prior announcement, hence why it is always best to be prepared.
We’ll be happy to answer any additional questions that you may have. Simply call us on 429 5000 or send an email to email@example.com. Or better yet, pay us a visit at our branches (Maison Esplanade – Victoria, Pension Complex –Baie St. Anne Praslin, Green Corner –Providence)