Group Personal Accident Insurance Policy

A group personal accident insurance policy is issued to a group of people with similar risk profile. Group can be formed by an employer for the benefit of employees, organisation, Travel Company, banks etc, and other service providers for their customers. Group Personal Accident Insurance is important for organizations as it fulfils the basic responsibility to protect the employees against any unfortunate events that can cause Death or Disability due to accident. It helps employers to avoid the burden of liability by paying the claim to the policyholder or his/her Nominee.

This Policy Provides financial compensation to the insured Person or his/her Nominees on account of injuries resulting in disability, or death due to an accident caused by external, visible, and violent means. The Insurer will pay the entire sum insured either on account of death or Permanent total disability (PTD) due to accident which should occur within 12 Calendar months from the date of accident.

Scope of cover

An accidental death-The Nominee of the insured receives the Capital Sum Insured.

Death & Permanent total disability -Capital Sum Insured is Paid.

Death, PTD &PPD - The compensation towards PPD depends upon the kind of disability.

Death, PTD, PPD&TTD (Weekly benefits) makes the injured person unable to perform regular duties / activities which ceases his earning capacity. The insured is entitled to a compensation @ 1% of Sum insured per week (Weekly benefits) subject to a maximum of 104 weeks.

Key Features

Coverage under this policy is WORLDWIDE. Claims, if any, will be paid in Indian currency only.

No requirement of medical tests.

Easy to administer.

Low Premium

Reimbursement of medical expenses

The policies are not contracts of Indemnity &they are benefit Policies. In the event of happening of an insured event a specified sum of money is payable irrespective of the amount of pecuniary loss actually suffered by the insured or dependent.

Insurable Interest: It differs from Other Policies. It is issued to a group of people with similar risk profile. The employers are deemed to have an Insurable Interest in the lives of their employees. A creditor has Insurable Interest in his debtor’s life to the extent of the debt due to the creditor.

Contribution: Contribution does not apply since the Policy is not a contract of Indemnity .

Premiums vary with the policyholder’s occupation rather than age.

Add on covers available

Medical Expenses can be extended on payment of extra Premium if the claim is admitted under the Policy

Sum insured

Is based on:

Income from gainful employment


Age as on date of proposal.

Normally Personal Accident Insurance cover is granted up to a Sum Insured of 60 to 72 times the monthly earnings. Linking the capital sum insured to the earnings of the person is to ensure that the weekly benefits provided to the insured in the event of temporary disablement would not be disproportionate to his weekly earnings.

Age group

This Policy is available to persons between the ages of 18 to 65 years (Male & Female).


Compensation under more than one clause for same period of disability

Any claim in the same period of insurance exceeding the capital sum insured

Death or disablement arising out of Suicide, attempted suicide etc. Pregnancy and/or childbirth

War and nuclear perils, Ionizing radiation or radioactivity

HIV / AIDS / or death due to any disease

Natural death.