Here are a few instances that are not included in your GPA plan. Intentional self-harm, suicide, maternity & childbirth-related, indulging in dangerous activities & extreme sports, pre-existing illnesses, military participation, STDs/HIV/AIDS, etc.
Permanent disability refers to vision loss of both eyes, feet, hands, or one hand, one foot and paralysis causing disability.
Partial disability refers to the loss of one eye, hearing of one ear, finger, toe, etc.
There are no tax-saving benefits of having a GPA cover for employees. Only your organisation can avail tax benefits for the same in the form of business expenses.
Most of the insurance groups in India provide worldwide cover for accidental emergencies. But you must always check with your insurer first before making a claim.
There is no requirement for a medical health check-up for a group personal accident plan.
No, only the employees are eligible for GPA cover. But the death benefits are paid to your family members.
Yes, here is the top list. Instances arising from war occurrence, radioactivity spill out, terrorism, criminal actions, civil hostility, and narcotics abuse are permanently excluded.
No, GPA includes only accidental death and disability.
No, GPA does not provide cover for minor injuries.
Taking care of the employees and their families is an excellent retention tool for organisations. This also boosts employee morale and productivity. The employer ensures that the family dependents of a deceased employee are financially taken care of with the help of a GPA scheme.