Group Personal Accident
What is Group Personal Accident?
Group Personal Accident (GPA) Insurance provides financial protection for policyholders and their families in the event of accidental disablement or death. This type of insurance is commonly offered by commercial or industrial establishments to provide accident coverage for employees, workers, members, and other eligible individuals.
GPA Insurance offers coverage for bodily injury resulting solely and directly from accidents caused by external, violent, and visible means. In the unfortunate event of an accident, the policy pays out benefits to the insured person, helping to mitigate the financial impact of loss of income due to disability or providing support to the insured person's family in the event of death.
Overall, Group Personal Accident Insurance serves as a valuable safety net, offering financial protection against unforeseen accidents and providing peace of mind to both policyholders and their loved ones.
Why do you need GPA?
To protect life risk of members enrolled against unforeseen accidental events. Human life is priceless, loss because of an event of accidental death or disability can never be covered. What can be done is to protect the family from the sudden and unexpected financial burden and help them in absence of the member. This cover is therefore important to make the members feel secured about the dependents in their absence and also for their own safety against any financial risk due to loss due to any kind of accidental disability.
What’s covered in a Group Personal Accident Insurance Policy?
- Accidental death
- Temporary total disability
- Child education cover
- Medical expenses
- Transportation of mortal remains
- Mobility support cover
- Funeral expenses
- OPD treatment
- Permanent partial/total disability
Insurance Benifits
- Large number of insurance policies
- Cover for Critical Situations
- Experience & qualified Staff
- Team of Experts Staff
As per prevalent laws, every individual who owns a private vehicle must have compulsory personal accident cover. As mentioned earlier, a PA cover is attached to the individual riding the vehicle registered in their name.
A group personal accident policy or GPA provides financial assistance during unforeseen circumstances. You get coverage for treatments in case of an accident that leads to disability or fatal injury. The employer pays the premium for the group personal accident policies.
Is Personal Accident Cover Eligible for Tax Deductions? Personal accident policies do not qualify for tax deductions as per the deduction provision specified in Section 80C. For example, personal accident cover purchased under a superannuation scheme for employees does not qualify for a tax deduction.
What is GPA Insurance Policy? GPA insurance, also known as Group Personal Accident insurance, provides coverage for accidental injuries or death. It is typically offered to groups of individuals, such as employees or members of an organization.