Group Personal Accident Insurance

What happens when life throws a curveball in the form of an unexpected accident? For employers, that question is not just personal, but also professional. Your people are your greatest asset, and when they face unforeseen injuries, disabilities, or even fatal outcomes due to accidents, having the right safety net in place becomes more than a gesture; it becomes a responsibility. This is where Group Personal Accident Insurance from Bajaj General Insurance becomes crucial.

This comprehensive policy ensures that your employees or members are financially protected in the event of an accident. It steps in where regular medical insurance might not offer full support, giving your team the peace of mind they deserve. Today, in a world filled with uncertainties, accidents are among the most unpredictable and financially draining events. Hence, this insurance product becomes not only relevant but essential.

Here, we explore what Group Personal Accident Insurance is, what it covers, its key features, who needs it, the claims process, and how tools like the health insurance premium calculator and smooth health insurance policy renewal help you manage this policy with ease.

What is Group Personal Accident Insurance?

Group Personal Accident Insurance is a specialised insurance plan designed to cover a group of individuals, typically employees of an organisation or members of a registered body, against accidents. It provides financial compensation in case of accidental death, permanent total disability, permanent partial disability, and temporary total disability.

This policy, offered by Bajaj General Insurance, offers a comprehensive structure of benefits that ensure the insured persons are financially protected during difficult times resulting from accidental injuries. Unlike traditional health insurance, which may focus on hospitalisation due to illness, this insurance strictly deals with consequences arising due to accidents, including death or long-term disability.

Bajaj General Insurance has built a legacy of offering flexible and reliable coverage options across the insurance space. The Group Personal Accident Insurance offered by the company is designed keeping the needs of both employees and employers in mind. With easy policy management, clear terms, and extensive coverage, Bajaj General Insurance makes it convenient for organisations of all sizes to protect their workforce.

Let’s take a closer look at what the policy includes.

The Group Personal Accident Insurance policy from Bajaj General Insurance offers the following significant benefits:

Accidental Death Cover

In the unfortunate event that the insured person dies due to an accident within 12 months of the incident, 100 percent of the sum insured is paid to the nominee. This benefit ensures that the family of the deceased is financially supported during the most difficult time.

Permanent Total Disability Cover

If an accident causes the insured to suffer from permanent total disability, such as loss of sight in both eyes or loss of both limbs, then 125 percent of the sum insured is paid to the insured or the policyholder. This added compensation reflects the gravity of permanent disability and aims to support long-term care or livelihood restructuring.

Permanent Partial Disability Cover

When the insured person suffers from a partial loss, such as losing one eye, a finger, a leg, or partial hearing, the policy provides a percentage-based payout depending on the severity. This payout is aligned with a clearly defined disability chart and helps the insured recover and manage financial needs during rehabilitation.

Temporary Total Disability Cover

In cases where the insured is unable to continue working for a temporary period due to an accident, a weekly compensation is paid. The amount is 1 percent of the sum insured or ₹5,000 per week, whichever is lower, and the benefit can be paid for a maximum of 100 weeks. This helps bridge the income gap during recovery and medical treatment.

Medical Expenses Reimbursement

Medical treatments can be expensive. This policy reimburses actual medical expenses incurred due to accidental injury, limited to 40 percent of the main claim amount or ₹5 lakh, whichever is lower. This is particularly useful when hospitalisation is required due to accidents.

Children’s Education Benefit

If the insured passes away or suffers from permanent total disability, a one-time amount of ₹5,000 is paid for each child’s education. This benefit is available for up to two dependent children under the age of 19.

Hospital Confinement Allowance

If the insured is hospitalised due to an accident, ₹1,000 is paid per day for each full day of hospitalisation. The maximum payable amount under this benefit is ₹30,000 per policy period.

Transportation of Mortal Remains

In case of accidental death, the policy also reimburses the cost of transporting the body to the hospital or residence, up to ₹5,000 or 2 percent of the sum insured, whichever is lower.

These features demonstrate how the Group Personal Accident Insurance policy goes beyond mere compensation and covers multiple dimensions of accident-related consequences.

Why Organisations Should Invest in Group Personal Accident Insurance?

Moral Obligation

As an employer, safeguarding the lives of your employees is not just good practice; it's a moral commitment. Employees who feel protected are more likely to be motivated, productive, and loyal to the organisation.

Financial Security for Employees

In times of need, a timely payout ensures employees or their families do not suffer financial ruin. Especially for families that depend solely on one member's income, this insurance acts as a much-needed safety net.

Compliance and Risk Management

Certain industries like construction, logistics, and manufacturing require occupational hazard coverage by law or compliance standards. Having this insurance helps reduce legal liabilities and proves due diligence on the part of the employer.

Cost-Effective Group Coverage

When buying personal accident coverage in bulk for a group, the premium per individual is significantly lower than retail policies. This makes Group Personal Accident Insurance one of the most cost-effective employee benefits.

Competitive Edge in HR

Offering this coverage as part of your benefits package helps in attracting and retaining talent. In competitive industries, this is an attractive feature for prospective candidates.

Who Should Buy This Policy?

This insurance policy is ideal for any organisation that wants to protect its members or employees. Specifically, it is recommended for:

1. Manufacturing firms

2. Transport and delivery businesses

3. Construction companies

4. IT firms with large workforces

5. Schools and educational institutions

6. Startups with growing teams

7. NGOs and community-based groups

Whether your employees work in the field or in an office, an accident can happen anywhere, and it pays to be prepared.

While the coverage is extensive, certain exclusions apply to maintain clarity and avoid misuse. The policy does not cover:

1. Injuries due to suicide or self-harm

2. Accidents under the influence of alcohol or drugs

3. Participation in criminal acts

4. War-related activities or military duty

5. Radioactive contamination or nuclear risks

6. Participation in high-risk sports is not covered explicitly

7. Injuries due to medical interventions done without a doctor’s advice

It's essential to understand the exclusions and educate your employees to avoid claim denials.

Easy Premium Estimation with Health Insurance Premium Calculator

To simplify the buying process, Bajaj General Insurance offers a health insurance premium calculator. This tool helps employers estimate the premium amount by entering the following:

1. Number of insured members

2. Age brackets

3. Sum insured per member

4. Add-on benefits selected

This digital tool helps employers plan their budgets, compare policy variants, and ensure that they choose an affordable yet effective plan.

Policy Renewal Made Simple

When it comes to long-term benefits, timely renewal is key. With Bajaj General Insurance, health insurance policy renewal is a smooth process with built-in flexibility. Here’s how:

1. You receive timely renewal reminders via email or SMS

2. A 30-day grace period ensures you don’t lose your policy benefits

3. The renewal process can be done online in minutes

4. No medical underwriting required unless there's a sum insured enhancement

5. You retain continuity benefits like pre-existing condition coverage and waiting period waivers

This allows employers to retain peace of mind, knowing that their group will continue to enjoy uninterrupted protection.

Filing a claim under the Group Personal Accident Insurance policy is simple. Below is the typical claim process:

Step 1: Intimate the Claim: Notify Bajaj General Insurance within 30 days of the accident. For death claims, immediate intimation is preferred.

Step 2: Submit Required Documents: Depending on the type of claim (death, disability, medical expense), documents may include:

- Duly filled claim form

- FIR copy or police report

- Medical reports and prescriptions

- Death certificate (in case of accidental death)

- Disability certificate from a civil surgeon (in case of permanent disability)

- Proof of hospitalisation or medical bills (if applicable)

Step 3: Verification: The insurer may verify the claim through internal or external medical examiners, depending on the severity and type of claim.

Step 4: Settlement: Once approved, the claim is settled within 15 days. In case of delay, interest is paid as per regulations.

This transparent and efficient claims mechanism reflects Bajaj General Insurance commitment to customer service.

Policy Portability and Migration Options

Even though it’s a group product, members exiting the group (for example, due to a job change or retirement) may be offered portability options. They can opt for individual accident insurance policies offered by Bajaj General Insurance and continue without losing their accumulated benefits, provided this is done within 45 days of policy expiry.

Similarly, if an organisation wishes to migrate from another insurer to Bajaj General Insurance, this can be done smoothly, provided IRDAI guidelines are followed.

Free Look Period Advantage

Upon purchasing a new policy, employers have a 30-day free look period to review the terms and cancel the policy if unsatisfied. If cancelled within this period and no claim has been made, a refund is provided after deducting applicable charges.

This benefit adds to the confidence of choosing a policy from Bajaj General Insurance, offering an added layer of reassurance.

Tips to Optimise Group Personal Accident Insurance

To make the most of this policy, here are some best practices:

1. Regularly review employee data and risk profiles

2. Use the health insurance premium calculator to revise coverage based on the updated workforce size

3. Renew policies on time to avoid coverage gaps

4. Educate employees on policy features and exclusions

5. Designate HR champions to assist with the claim process

6. Maintain proper records and nomination forms

7. Integrate the policy with other employee wellness programs

Conclusion: A Policy That Reflects a Caring Workplace

Accidents are unpredictable, but being Unplanned is a choice. In today’s dynamic workplace environment, offering Group Personal Accident Insurance reflects an employer’s foresight, compassion, and commitment to the safety of their people.

Whether it’s protecting employees from financial losses due to disability, offering support for medical bills, or safeguarding families in case of an unfortunate death, this policy addresses critical life scenarios with care and efficiency.

With digital tools like the health insurance premium calculator, simple health insurance policy renewal, and a strong service commitment from Bajaj General Insurance, this plan is one of the most employee-centric financial protections a company can offer.

Don’t wait for a crisis to act. Secure your team today with Group Personal Accident Insurance and build a future-ready workplace that prioritises care, security, and resilience just the way Bajaj General Insurance does.

*Standard T&C Apply

**Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making any related decisions.

***Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.