Mr Sharma is an owner of a company. He’s looking to insure his employees against unexpected medical expenses that may arise due to an injury or death resulting from an unfortunate event at the workplace.
In this context, he might want to consider a group accident insurance plan from reputed insurance companies. Irrespective of his company’s size, he can purchase a customisable group personal accident insurance policy to meet the requirements of employees.
To know more about group insurance plans, read the following sections –
However, individuals looking for comprehensive group personal accident insurance might want to consider insurance companies like Navi. Their group insurance policies provide additional financial protection in case of accidental death or other injuries. Further, their app-based processes allow members to intimate claims without any hassle. To avail the plans and benefits, just download the Navi app from the google play store.
Needless to say, group insurance policies cover various expenses arising from accidents and injuries at a workplace. Therefore, individuals with a well-rounded group personal accident insurance plan can protect their savings and meet their financial goals effectively due to the comprehensive coverage benefits. Now that you know everything about this plan, obtaining such insurance would not be a daunting task.
Ans: There are no tax benefits in relation to group accident insurance policies. However, you can opt for individual health or life insurance plan to obtain tax benefits under Section 80D of the Income Tax Act, 1961.
Ans: There are various factors that determine the premium of a group insurance policy. They are as follows:
Employees’ exposure to risk in the workplace
Number of employees in the organisation
Ans: There are various additional benefits that you can enjoy by opting for a group insurance policy. Some of them are listed below:
Repatriation of mortal remains
Ans: Yes, group insurance policies cover the cost of treating injuries that you may pick up while travelling abroad. That said, note that you will only receive coverage in case you visit a foreign country for business trips that are organised by the employer who pays the premium.
Ans: The insurer will offer coverage benefits to individuals with permanent disabilities such as:
Loss of eyesight
Loss of hands and feet
Paralysis leading to permanent disability
Loss of one hand and one foot
How about an affordable health insurance policy 👨⚕️ starting at a monthly premium of just ₹235? Install the Navi app now and get your policy in under 2 minutes.
Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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