Group Personal Accident insurance (GPA) is a corporate or institutional policy which provides compensation in the event of injuries, disability or death caused solely by violent, accidental, external and visible events.
In the event of permanent disability caused by an accident, the insurance pays for a pre-determined percentage of the insured amount or a pre-determined multiple of salary.
If a life is lost due to an accident, the insurance will pay the total insured amount or a pre-determined multiple of salary.
Pays for medical expenses that arise from treating you after an accident including dental and optical expenses
Caters for permanent partial disability due to an accident
Pays a weekly income for the period you are out of work because of injury from an accident.
Issued to a group of people with similar risk profile.
Group can be formed by an employer (of employees), organisation, travel company, banks, and other service providers (for customers), etc.
The insurance covers the expenses and compensates the insured group members for any injury sustained in the course of their lives (except injuries obtained due to excluded causes).