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GROUP PERSONAL ACCIDENT (GPA)

ABOUT

A group personal accident insurance policy covers the members of a registered group against the risk of accidental death and disablement. A group can be an employer-employee group or any other group which fulfils the eligibility parameters set down by the IRDAI. The group should not be formed solely for the purpose of availing insurance.

The policy can be bought by a group for the benefit of its members. A single master policy is issued which covers all the members of the group in it. The premium is also paid in one lump sum and the coverage duration if for one year after which the policy should be renewed for continuous coverage.

The group personal accident insurance plan provides coverage against accidental death, permanent total disablement and permanent partial disablement suffered due to an accident. Some plans also cover temporary total disablement wherein the insured member is unable to work for few weeks. In case of accidental death and disablement, a lump sum benefit is paid while in case of temporary total disablement, weekly benefits are paid till the member recovers subject to a maximum number of weeks.

The group personal accident insurance policy covers most types of accidental contingencies. However, accidental death or disablement suffered due to participation in hazardous activities, adventure sports, acts of criminal nature, self-afflicted injuries or suicides, war, nuclear contamination and engaging in aviation other than as a fare paying passenger are not covered. Moreover, if the member is involved in defense related activities, claims due to accidental death or disablement would not be covered.

GROUP PERSONAL ACCIDENT (GPA)

BENEFITS

LUMP SUM BENEFIT IN A CONTINGENCY

As stated earlier, group personal accident plans pay a lump sum benefit in case of a claim. In case of accidental death or permanent total disablement, 100% of the sum insured is paid. However, in case of permanent partial disablement and temporary total disablement, a part of the sum insured is paid depending on the severity of the disability suffered.

COVERAGE AGAINST PERMANENT PARTIAL DISABLEMENTS

Besides covering accidental death and permanent total disablements, a group personal accident policy also covers permanent partial disablement. In case of permanent partial disablement, a percentage of the sum insured is paid depending on the severity of the disability suffered.

COVERAGE FOR TEMPORARY TOTAL DISABLEMENT

Temporary total disablements are when you suffer complete disability but such disability is temporary and gets healed with time. For instance, if you suffer from severe multiple fractures or third-degree body burns, those are temporary disablements which result in bed rest for a specific period of time. Once you recover, you can get back to work. Temporary total disablements are covered under group personal accident plans. In such cases, a small percentage of the sum insured is paid on a weekly basis till the insured member is confined to bed rest.

COVERAGE FOR FAMILY

A group personal accident insurance policy can be extended to cover the accidental risks faced by the family members of the insured. Coverage extension for family members is available at an additional premium if the group chooses to include family members in the scope of coverage.

AFFORDABLE PREMIUMS

The premium of a group personal accident policy is quite affordable. It can be paid by the group itself, its individual members or jointly by the group and its members. The premium rates are lower compared to the rates of individual personal accident insurance plans which the members can buy individually.

OPTIONAL COVERAGE BENEFITS

There are a range of optional coverage benefits which are available with a group personal accident insurance policy. The group can choose these coverage benefits based on its requirements at an additional premium. Some of the common optional coverage features available include the following:

  • Child’s education fund in case of accidental death or permanent total disablement
  • Funeral expenses
  • Coverage for temporary total disablement
  • Medical expenses due to hospitalization

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