Features of Group Accident Insurance

Features of Group Accident Insurance


If you’ve never heard of group accident insurance, you may be in the same boat as a lot of people. Accidents do happen, and they can really be traumatic, regardless of whether or not you are at fault. With a small investment, you can give your employees protection in case they get involved in an unfortunate accident. This article will highlight the features of group accident policy and help you decide if it is right for your budget and workplace culture.

Group Accident Insurance Features

By and large, a group insurance plan offers compensation to all the employees who suffer bodily harm due to an accident. However, it comes with a lot of additional benefits as well. When it comes to promoting a successful group accident plan, you need to keep in mind the following four most critical features:

1. Coverage

When an organization decides to send its employees out into the field, a big risk is taken. An accident could happen anytime and cause a lot of problems to the business that it represents, especially when it comes to compensation for its employees who are involved. If a person is injured in this way, he or she may not only need urgent medical help but also financial aid for their rehabilitation and compensation for other losses such as property damage, lost wages, etc.

Accident insurance is a type of health insurance that covers injuries sustained by the company’s employees. It compensates them for any expenses associated with their healthcare needs that arise because of an accident. With group accident cover, you will be paid a lumpsum amount if you are injured in any way while on the job or while performing your duties at its premises.

2. Peace of Mind

A workplace injury can be devastating for your business and your team. As an employer, it’s your job to keep your employees safe and provide them with the proper medical care. Despite the fact that workers want to avoid injury, injuries do occur. When an employee gets hurt on the job, it could result in serious medical bills, missed work days and potentially decreased productivity levels.

Group Insurance – InsureMentors

The group accident cover is another financial mechanism that can be included as a part of your business plan and help you to keep your employees safe during working hours. When an employee suffers an injury, a group accident cover can offer them the peace of mind of having a backup financial plan in place. This helps the company in receiving improved retention and productivity rates while giving its employees financial assistance at the same time.

3. Group Insurance Discount

Group accident insurance is coverage that is designed to accommodate multiple individuals working in one organization. The reason for such an arrangement is that these policies are more cost-effective than single policies. A member of an organization with a large number of employees can enjoy discounts from the purchase of all these policies that are able to offer protection for them and their families or loved ones.

4. Ambulance and Other Charges

If you’ve been involved in an accident, there are several things that can happen. From property damage to medical expenses and even death, it’s not always about the injuries you sustain. The plan covers all costs associated with transporting the insured to a nearby hospital as well as additional emergency costs. In the tragic event that the insured passes away, the insurance provider also contributes a predetermined portion of the total sum covered to cover the cost of moving the deceased person’s body from the scene of the accident to his or her residence.

Exclusions Under Group Accident Policy

Group accident policy provides coverage for all employees included in it. This means that if any of your team members is unlucky enough to get involved in an accident, the insurance company will be liable for paying the medical bills and compensating monetary damages. However, it is important to understand that a group accident policy doesn’t cover every risk that might arise during an employee’s tenure with a company, so there are some important forms of accident which can be excluded from the policy.

  • It is against the policy to provide coverage for any self-inflicted injury or injury that is the result of suicide.
  • The policy will not pay any compensation for an injury sustained due to involvement in any criminal activity or anything that is forbidden by Indian law.
  • Being intoxicated can lead to getting into accidental situations that can result in injuries or damage. Such damages will not be covered by the accident policy.
  • Group accident policy is not applicable to any injury or death due to critical illness, pregnancy or childbirth.
  • Nuclear explosions or any armed conflict are not covered under the group accident policy.

Why Choose Group Accident Policy?

It is possible for some business owners to be confused about the value that a group accident insurance policy brings over a group health insurance plan or a group term insurance policy. These policies are different from each other in several ways, but one big difference is that a base group life or health insurance policy does not cover accidents.

If you have to pay for an accidental death coverage add-on, then it will take up an additional amount of money. This is why many companies consider group accidents to be more beneficial, because they get to offer accident coverage to their team members at a lower premium cost.

A group accident policy works as a hedge against any accidental risks for your employees. It actually comes in handy in case of any workplace accident and the legal liabilities of the employer in such a situation.


If you’re in the market for accident insurance, don’t forget to compare and contrast your options. Make sure that you receive maximum coverage, and don’t just focus on the monthly cost. The financial investment might be worth the peace of mind that comes with knowing that your employees are well taken care of.