Which Is The Best Group Accident Insurance Policy For Employees?

Introduction

To ensure that all employees enjoy equal benefits and safety against road uncertainties, every company should provide them with a group accident insurance policy. This creates a sense of belonging and security in a work environment. Companies nowadays are becoming more and more sensitive to the requirements of their employees. And this is helping them not only emerge as an employee-centric organisation, but also cut their talent acquisition costs. New-age startups also provide similar fringe benefits to their employees to catch up with the trend.

Apart from helping with the sense of safety, group accident cover gives utmost benefits during times of emergency. This encourages them to work at their best and travel without hesitation whenever needed. It is the kind of accident insurance for a group of employees who usually stick together to work on the same projects.

Firstly, What is a Group Accident Insurance Policy?

  • A group accident cover is a kind of insurance scheme meant to cover a group of employees under circumstances of accidents. This scheme provides coverage for bodily injuries or disabilities incurred during an accident on duty to the insured employee.
  • It also covers the employee’s accidental death and provides financial support to the nominated and dependent family members to cope with the crisis.
  • This scheme helps employees stay enthusiastic about challenging jobs where they might be prone to accidental hazards.
  • Plum Insurance comes with an innovative insurance policy to offer your employees and ensure their workspace safety from accidents.
  • If you own a godown, a factory, or a construction site, your employees are constantly exposed to deadly mishaps at the cost of the slightest human mistake possible.
  • Employees who work under such life-threatening circumstances need a group accident policy to stay relieved about the dependent family members, even if an unfortunate event occurs at work.

Which is the Best Group Accident Insurance Policy For Employees?

A group accident cover that comes with the following features and benefits is the best policy for your employees as it will provide them with a comprehensive coverage:

  • Child Care: Employees having kids or teenagers can suffer a lot of distractions while at work planning for their child’s proper upbringing. A group insurance policy sometimes provides for their child’s education to help them focus on their work better.
  • Accident Cover: Employees can nominate their dependent family members or spouse for a death benefit cover under the group insurance policy. It provides 100% of the insurance money in a lump sum to the family, or mentioned nominee of the deceased as compensation for their loss.
  • Complete Coverage Package: A good combination of benefits from both group accident and group medical policies in one coverage can be offered to the employees. Expenses on road ambulances can also be covered with such a scheme. This ensures a sense of safety and well-being while at work and encourages better concentration on daily tasks.
  • Disability Coverage: Many accidents are unfortunate enough to leave a person disabled for a considerable amount of time, or worse, permanently. Employees who work in physically laborious environments like factories or construction grounds are always highly prone to life-threatening accidents. Having insurance cover to compensate for their disability periods would give them encouragement to work better without hesitation.
  • Weekly Compensation: This scheme gives the benefit of weekly financial compensation to employees who are temporarily disabled or bedridden due to an accident. It helps reduce their financial anxiety during such stressful situations where the only thing that can get them back on their feet is complete rest. A reminder that their expenses are being covered weekly brings in calmness and helps them recover better and faster.
  • Hospitalisation Expenses: With the increasing inflation in medical expenses, it becomes quite stressful when long hospital bills are topped with the financial trauma incurred due to the accident of an earning member. During such tough times, group accident cover comes in helpful enough to overcome this trauma by reimbursing for the hospital bills.
  • Bone Safety Coverage: Bone fractures are the most common type of injury incurred from a road or workspace accident. Employees working in factories or construction fields are constantly exposed to chances of getting a limb or two broken due to a fall or machinery mishandling. Plum’s group accident policy covers the financial inconvenience caused by such minor or major fractures to ensure the affected part gets the required rest for faster recovery.
  • Coverage for Transportation of Mortal Remains: The worst nightmare of any human being, but sadly, equally possible while working in a hazardous workspace is spot-death in an accident. During such a mishap, the least Plum can do for the deceased family and coworkers is to provide financial support for transporting the corpse or remains to a cremation ground.

Conclusion

After the government and people have withdrawn the pandemic restrictions, and people are forced to resume work from their respective offices, more and more employees are exposed to road and workspace accidents. Work is important, but nothing surpasses the significance of health and safety. With the implementation of Plum’s Group Accident Insurance Policy, you can provide safety and full coverage benefits to your employees at work.