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What Our Plans Cover
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Accidental death
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Permanent total disablement
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Permanent partial disablement on a...
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Temporary total disablement
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Accidental hospitalisation expense...
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Ambulance charges following an acc...
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Children's education grant on deat...
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Repatriation of remains
Who Can Consider This Plan?
- A registered organisation with employees on its payroll
- A minimum group size, commonly seven to twenty depending on the cover
- Employees actively at work on the date cover commences
- Accurate census data — pricing follows the population profile
- Uniform benefit design within each defined grade
What May Not Be Covered?
- Death or disablement from illness rather than accident
- Self-inflicted injury and suicide
- Accidents under the influence of alcohol or drugs
- Injury while committing a criminal act
- Adventure and hazardous sports, unless specifically covered
Always check the policy wording before you commit.
Why Choose Wealth & Covers?
- Expert advice to choose the right plan
- Plans from leading insurance companies
- Hassle-free process and documentation
- End-to-end support, including claim assistance
- Dedicated relationship manager
Our Insurance Partners
- Star Health Insurance
- Care Health Insurance
- Niva Bupa Health Insurance
- HDFC ERGO
- ICICI Lombard
- Bajaj Allianz
We represent multiple providers to help you find the most suitable option at the best price.
- Expert Guidance Personalised advice from experienced insurance professionals.
- End-to-End Support From choosing the right plan to claim assistance, we are with you always.
- Claims Assistance Hassle-free claim support to ensure you get what you deserve.
- Transparent Process Clear information, easy documentation and a hassle-free experience.
Overview
Group personal accident covers employees for death and disablement caused by accident, twenty-four hours a day and anywhere in the world — not only at work. It is among the cheapest benefits an employer can provide relative to the sum insured it delivers.
The reason is actuarial. Accident risk correlates weakly with age and medical history, so a whole workforce can be covered at a very low rate per employee for a sum insured that would be expensive on a health or life policy.
The cover that matters most is permanent disablement. Death is catastrophic and final; permanent disablement means an employee's income stops while their costs rise, often for decades, and it is the scenario where a well-set sum insured makes the greatest difference.
Who should consider it
Every employer, particularly those with field staff, drivers, site workers or employees who travel. It is frequently the highest-value benefit per rupee available and is often added to a group health scheme for a fraction of its cost.
Benefits
- Very large sums insured for a very small premium per employee
- Cover applies around the clock, not only during working hours
- Worldwide cover, including personal travel
- Permanent total disablement pays the full sum insured
- Weekly compensation for temporary disablement on most schemes
- Education benefit for children and funeral expenses on many schemes
What is covered, and what is not
Read the right-hand column first. It is the one that decides whether a claim is paid.
Typically covered
- Accidental death — the full sum insured
- Permanent total disablement — usually the full sum insured
- Permanent partial disablement on a defined percentage scale
- Temporary total disablement — weekly benefit for a limited period
- Accidental hospitalisation expenses, where included
- Ambulance charges following an accident
- Children's education grant on death or permanent disablement
- Repatriation of remains, on many schemes
Typically not covered
- Death or disablement from illness rather than accident
- Self-inflicted injury and suicide
- Accidents under the influence of alcohol or drugs
- Injury while committing a criminal act
- Adventure and hazardous sports, unless specifically covered
- War and nuclear risk
- Pre-existing disablement
Inclusions and exclusions vary between providers and between plans from the same provider. The wording in your own policy document is what governs — we will walk you through it before you buy.
How it works with us
- 1 We profile the workforce, not just the headcount Age bands, salary bands, locations and dependants. A scheme priced on headcount alone is priced on the wrong data.
- 2 Benefit design before market approach Sum insured basis, family definition, waiting periods and co-payment. These decide the premium far more than the choice of insurer.
- 3 Quotes compared on claims service as well as price A cheap scheme with a slow TPA costs you in employee goodwill every single month.
- 4 Onboarding and employee communication We run the enrolment, produce the cards and explain the scheme to your people. Benefits nobody understands are benefits nobody values.
- 5 Mid-term additions and an annual review Joiners and leavers handled by endorsement, and a renewal built on your actual claims data rather than a standard loading.
Important considerations
The things a brochure tends to leave out. Read these before you decide.
- Declare occupation classes accurately. Field staff, drivers and site workers rate differently from office employees, and a scheme rated on the office population will be challenged when a driver claims.
- The disablement percentage table is the substance of the cover. Two schemes with identical sums insured can pay very different amounts for the same injury.
- A salary multiple is a cleaner basis than a flat sum, because it scales the benefit to what each employee's household actually loses.
- Adding accidental hospitalisation cover is inexpensive and stops small accident claims from eroding the group health scheme's claims ratio.
- This is not workmen's compensation. It pays regardless of fault and regardless of whether the accident was work-related, but it does not discharge your statutory obligation.
Documents required
- Company registration and GST details
- Employee census — age, gender, salary band and location
- Details of dependants where family cover is included
- Existing policy schedule and claims data, where renewing
- Organisation chart, where cover varies by grade
- Signed proposal form from an authorised signatory
Frequently Asked Questions
Does it only cover accidents at work?
No — cover runs twenty-four hours a day, worldwide, including personal time and holidays. That is what distinguishes it from workmen's compensation, which responds only to employment-related injury.
Is this the same as workmen's compensation?
No. Workmen's compensation is a statutory no-fault scheme for work-related injury with defined amounts. Group personal accident is a benefit policy paying a chosen sum insured for any accident anywhere. Employers generally need both.
Why is it so cheap?
Because accident risk correlates weakly with age and health, and claims are less frequent than health claims. It is why a very large sum insured per employee is affordable here in a way it never is on a health policy.
How should we set the sum insured?
A multiple of annual salary — commonly two to five times — scales the benefit to what each household would actually lose, and is fairer than a flat figure across very different salary levels.
Are employees covered while travelling for work abroad?
Yes, cover is worldwide. It is not a substitute for travel insurance, which covers medical treatment abroad, but the accident benefit itself applies wherever the employee is.
Want a shortlist instead of a catalogue?
Tell us the situation and an advisor comes back with two or three options that actually fit — and names what each one gives up.