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Accidental insurance
Type: HR, Report if not a HR topic
Posted 09-11-2009Reply
Dear HRians,
Can anyone please give me some Info on accidental insurance benefit given to an employee in an organization.
Would appreciate if you could be kind enough to share your valuable insight on it.
Regards
Shiny
Hi Shiny,
Can pls be specific in the question on whether the organisation is in to Manufacturing, and what is the manpower, and the Level of Hazardous activity, and what kind of cover would like to offer.
There are a many Accident cover benefits but they differ from industry to Industry and vary in matters of the risk involved, If you can be more specific it would help me to understand the case and then answer it appropriately!!!!
Can pls be specific in the question on whether the organisation is in to Manufacturing, and what is the manpower, and the Level of Hazardous activity, and what kind of cover would like to offer.
There are a many Accident cover benefits but they differ from industry to Industry and vary in matters of the risk involved, If you can be more specific it would help me to understand the case and then answer it appropriately!!!!
In Compensation Act..there is a clause for paying employees against the injuries/ Disability / Death..but for covering these things Group Personal Accidental Insurance is a good scheme..
Group Personal Accident Insurance ..is a Group Insurance policy, which is a very benifitial for employees. Most of the Manufacturing organisation covers this facility as it gives risk coverence 24 hours..Now let us see the benifits of it..
1. Individual can not take Group Accidental Insurance policy which has more benifits than personal Insurance in the case of Accidental Injury/ Death. Policy coveres the risk if accident is in the company premisesand also outside the company premises.
2. In case of Absentism due to Injury the Avg. Salary(Basic +D.A.) for that period is paid by the company.
3. The premium is offcourse paid by the company. The company can also share that information in Cost to Company if they wish so.
4. In case of Partial disability / Permenant Disability / Accidental Death the Group Accidental Insurance helps a lot in terms of financial support..
5. For the organisation the premium cost is not high to cover total 24hour risk...which is benifitial to all workers and staff.
I will suggest there are govt. Insurance organisation for Group Accident Insurance like New India Assurance..We should go with these kind of Welfare scheme which are mutually benifitial..
Group Personal Accident Insurance ..is a Group Insurance policy, which is a very benifitial for employees. Most of the Manufacturing organisation covers this facility as it gives risk coverence 24 hours..Now let us see the benifits of it..
1. Individual can not take Group Accidental Insurance policy which has more benifits than personal Insurance in the case of Accidental Injury/ Death. Policy coveres the risk if accident is in the company premisesand also outside the company premises.
2. In case of Absentism due to Injury the Avg. Salary(Basic +D.A.) for that period is paid by the company.
3. The premium is offcourse paid by the company. The company can also share that information in Cost to Company if they wish so.
4. In case of Partial disability / Permenant Disability / Accidental Death the Group Accidental Insurance helps a lot in terms of financial support..
5. For the organisation the premium cost is not high to cover total 24hour risk...which is benifitial to all workers and staff.
I will suggest there are govt. Insurance organisation for Group Accident Insurance like New India Assurance..We should go with these kind of Welfare scheme which are mutually benifitial..
Dear Shiny,
Can you call this number for further Insurance assistance : Mr. Ambikapathy : 09341555778 or Mr. Arjun : 09443347937( S & S Insurance ) ( 3rd party)
They are VRS people from LIC, now they formed one company for insurance.
I have a experience with this company to form Medical insurance for my previous company. They will give the good support in this regard.
Hope this information will helpful to you.
Regards
Pandi
Can you call this number for further Insurance assistance : Mr. Ambikapathy : 09341555778 or Mr. Arjun : 09443347937( S & S Insurance ) ( 3rd party)
They are VRS people from LIC, now they formed one company for insurance.
I have a experience with this company to form Medical insurance for my previous company. They will give the good support in this regard.
Hope this information will helpful to you.
Regards
Pandi
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