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Group Personal Accident Cover: Smart Choice
[Posted by: InsuringIndia Blog on 23-Mar-2016]
Modern life comes with a host of conveniences that aim to make a lot of aspects at work and home easier. While there are daily challenges and stresses at workplace and outside, in this scenario it is pragmatic for employers and employees to opt for a security blanket that will prove to be beneficial for both ends, in the long run. It goes without saying that for any organization, whether small or large, the greatest asset is not its business turnover but the safety and security of its employees. 
This is a type of cover where compensation is provided in case an employee suffers injury which may be violent, external and also visible. It also takes into account death during an accident or disability incurred during the mishap. It can also cover aspects like children's education etc. What is notable here is that it does not cover death due to natural causes, suicide, preexisting diseases or pregnancy related deaths which may also include childbirth etc. 
Under this umbrella, certain policies offer 24x7 services worldwide. Hence this is a big advantage of an employee is injured or suffers any other mishap while travelling on business. 
A tax sop for the organization.
In the event of an employee’s death, the cover is extended to his family and certain policies also take care of aspects like children's education etc.
Certain costs incurred like ambulance charges are taken care of, under this cover. 
Lump sum is provided in the event of an employee's death.
Permanent Partial disability sustained by the employee during an accident is also covered. This may include hearing loss, sense of taste, smell, loss of fingers, toes, eyesight etc. depending on the type of cover that is chosen.
GPA also takes into account permanent total disability sustained during an accident. This includes loss of toes or a toe, loss of hearing in one or both ears, loss of eyesight in one or both eyes among other conditions. 
Certain GPAs also offer a percentage of compensation from the principal amount on a weekly basis.
Some GPA policies also provide a degree of compensation for broken bones and fractures. 
Certain types of policies under this aegis also include charges related to carrying the mortal remains of the policy holder.
Signed claim form
Death certificate
Post mortem report
Affidavit from the legal heirs of the policy holder
Copy of insurance certificate which has been attested by a requisite authority
Leave of absence document from employer
Signed claim form
A medical certificate
Copy of original certificate of insurance signed & attested by authorised official
While buying this type of policy it is advisable that it should be bought via an online aggregator rather than an insurance agent. This is because it saves unnecessary expenditures and costs. It also gives a wide variety of choices, compare premiums, sops and disadvantages before opting for a policy of your choice.  

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