Group Personal Accident Insurance
If you run a business and you employ any number of employees, group personal accident insurance is something you should seriously consider. With group personal accident insurance your business would be protected in the event one of your employees seriously injures themselves and is unable to work for several months.
Even if your company is found to be not liable for the injuries sustained by the employee, you may still face some financial kickback due to having an injured employee.
Here are 3 things group personal accident insurance covers:
If a covered employee becomes disabled in any capacity and is no longer able to work, your company will receive disability benefits from the group personal accident insurance policy. You can then use those funds to either compensate the injured employee, or pay them weekly injury benefits if they will only be out of work for a short period of time.
In some cases injuries sustained from an accident at work may lead to death. If this should happen, accidental death benefits will be paid out through the group personal accident insurance policy.
Most group personal accident insurance policies will cover funeral expenses for the deceased employee. There is a maximum limit for this benefit and it will be made known at the time you take out the policy.
Please note the employee must be covered to receive any of these benefits.