You Need To Know About GPA Insurance – Group Personal Accident Insurance
GPA Insurance: What Is It?
GPA Insurance is group personal accident insurance. It’s an employer-issued protection plan for an organization’s employees. How significant is this policy? It was created to help if an employee perished in an accident. It also covers accident-related partial or permanent disability costs.
You can keep your staff safe on or off-road.
GPA Policy: Key Features and Benefits
Group accident insurance is excellent for salaried workers and family heads. Employers, business owners, and co-founders should do what they can to protect office workers from accidents that could kill them. Include it in your annual plan.
Nothing beats giving employees medical independence. Group personal accident insurance has many benefits.
Accident and Death Coverage –
GPA Insurance’s main coverage Traveling employees are riskier than desk workers. In a serious industrial accident, a worker may suffer temporary or permanent impairment. Accident hospitalization is expensive. A GPA policy will benefit both employers and employees.
If a worker dies in an accident, the amount insured is paid to his or her family (spouse, children, dependents) in a lump sum or equal monthly payments.
|Total disability – permanent||Accidents might leave workers permanently handicapped for a year or more. In this situation, the employee receives the insured sum.|
|Partial – permanent disability||Accidents inflict permanent damage. An employee who suffers for 12 months or more receives a percentage of the sum covered. payment depends on disability.|
Ambulance transportation costs: anytime, anywhere, accidents can happen. All accident victims need transportation to a local hospital. This plan reimburses ambulance costs.
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Expenses for transfer of mortal remains—Your collective accident policy will reimburse you for transferring the employee’s body from the hospital to a crematory or for final rites.
What Is The Compensation Under The GPA For Accidental Death?
- Covers personal accident injuries and disability.
- Accidental death pays the whole amount insured.
- Partial disability pays 50% of the insured value.
- Plans cover heart attacks and strokes.
- In case of total temporary disability, a predetermined amount is paid.
- Accident-related reconstructive surgery coverage.
- Plans pay for the dead employee’s children’s school tuition.
- Specific plans include premiums. Policy dependents don’t pay. After the employee’s death, the insurer pays future premiums.
Are There Exclusions?
Yes, here is a list of conditions that are not covered by GPA insurance.
- Self-harm, suicide attempt. No suicidality.
- Crime-related injuries are permanently excluded.
- Armed forces service.
- Risky job.
- Permanently ban war, civil strife, and terrorism.
- Substance addiction and opioids cause physical/mental health damage.
Why Should You Get GPA Insurance For Your Employees?
Your employees are your biggest asset. Many workers have wonderful families. Protecting your staff with a GPA will prevent death or disability from unanticipated emergencies. The employee’s dependents won’t have to worry about losing the breadwinner’s income.
Medical expenses from an accident-related emergency hospitalization are also covered. Chronic accidents can handicap a worker. The employee and his family are traumatized physically, mentally, and emotionally. This causes financial crises and depletes life savings. GPA insurance protects your employees at work and off.
This policy will help employees protect their families’ health and safety in an emergency. Mishaps won’t cost you or your employees extra money.