An accident can happen at any time or anywhere, so if an employee is injured or in worst case passes away while on duty, then the results can be very devastating. The employee or his/her family may also be under financial strain because of the accident, and the business can also incur the costs associated with the event.
Group Personal Accident Insurance is designed to help businesses to keep their financial losses to a minimal after such events. There are many different benefits and entitlements offered including:
- Accidental Death - Death of the insured resulting from an accident
- Accidental Death and Dismemberment Coverage - In the event of an accident resulting in loss of life, limb, or eyesight, the beneficiary receives up to the policy limit, and if necessary coverage could be increased for highly-compensated employees. This comprehensive coverage also extends to permanent total dismemberment or disability, which prevents the insured from obtaining any gainful employment after 12 months.
- Temporary Disablement - Accidental injury that temporarily prevents the insured from working. Amounts are available up to 100% of the employee’s weekly salary.
- Medical/Hospitalisation Expenses - Necessary hospitalisation and recovery expenses incurred by an insured as a result of an accident.
- Medical Evacuation - If adequate medical assistance is not immediately available, the insured will be evacuated to a suitable facility to receive appropriate medical treatment. In some cases, travel expenses will also be paid for repatriation to the employee’s home country.
- 24/7 Coverage - Provides around-the-clock protection to the insured while they are on the job, on vacation, or at any other time abroad. Typical workers’ compensation coverage is applicable only during working hours, potentially leaving gaps in coverage throughout the duration of an assignment.
- Flexible Policy Terms - Provides coverage options for both individuals and groups at competitive rates. Benefit types and amounts can be easily modified as circumstances may require.
- War and Terrorism Coverage - Protects organizations with the right coverage against the risks of civil unrest, war, and acts of terrorism.