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Bajaj Allianz Group Personal Accident Insurance Policy – A Detailed Review

Sep 26, 2023

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Group Personal Accident Insurance Policy

Bajaj Allianz Group Personal Accident Insurance Policy – A Detailed Review
Contents

A Group Personal Accident Insurance Policy is an important tool to securing employees against accidental death or disability. A Group Personal Accident Insurance Policy is also known as a GPA Insurance Policy. This article provides a detailed overview of Bajaj Allianz Group Personal Accident Insurance Policy, including its coverages, benefits, exclusions, and features.

What is Bajaj Allianz Group Personal Accident Insurance Policy?

Bajaj Allianz Insurance Company is a leading insurance company in India that provides Group Personal Accident Insurance Policy for employees. This policy provides coverage for employees against accidental disability or death resulting from an accident. The additional medical expenses incurred as a result of the accidental injury are also covered.

What are the Coverages under Bajaj Allianz Group Personal Accident Insurance Policy?

The Bajaj Allianz GPA Insurance Policy offers basic coverages that include

  • Accidental Death: Bajaj Allianz GPA Insurance Policy pays 100% of the Policy Sum Insured for any injury caused due to an accident that immediately or eventually results in the death of an Insured Employee. However, death due to an accidental injury should occur within 12 months from the date of the accident that caused the injury.
  • Permanent Total Disablement (PTD): The Bajaj Allianz Group Accidental Insurance Policy pays 125% of the Sum Insured in case of Accidental Body Injury during the Policy Period that causes Permanent Total disablement within 12 months.
  • Permanent Partial Disablement (PPD): If an accident leads to Permanent Partial Disablement (PTD), Bajaj Allianz GPA Insurance Policy pays a percentage of the Sum Insured as a benefit. The table below shows the percentage of the Sum Insured paid in the event of different types of losses:
Loss of % of Sum Insured
An Arm at the shoulder joint 70%
An Arm above the elbow joint 65%
An Arm beneath the elbow joint 60%
A hand at the wrist 55%
Loss of Thumb 20%
Loss of Index Finger 10%
Loss of Any Other Finger 5%
Loss of a Leg above Mid-Thigh 70%
Loss of a Leg upto Mid-Thigh 60%
Loss of a Leg upto beneath the Knee 50%
Loss of a Leg upto Mid-Calf 45%
Loss of a Foot at the ankle 40%
Loss of a Large Toe 5%
Loss of Any other Toe 2%
Loss of an Eye 50%
Loss of Hearing of one ear 30%
Loss of Hearing of Both Ears 75%
Loss of Sense of Smell 10%
Loss of Sense of Taste 5%
  • Temporary Total Disablement (TTD): In case of an Accident Bodily Injury results in Temporary Total Disablement of the Insured Employee which prevents the employee from engaging in his occupation, the Bajaj Allianz Group Personal Accident Insurance Policy pays a weekly benefit as per the opted plan. The Insurance Company will make the payment until the employee is able to restart work or for a maximum period of 100 weeks, whichever is earlier.

What are the Add-On Covers under Bajaj Allianz Group Personal Accident Insurance Policy?

Bajaj Allianz Group Personal Accident Insurance Policy offers the following Add-On Covers:

  1. Accidental Medical Expenses (Inpatient and Outpatient): The Bajaj Allianz Group Personal Accident Insurance Policy reimburses the costs of necessary medical treatment that the Insured Person has to obtain from a Doctor because of the Accidental Bodily Injury that he has met with. However, the Payment under the Policy is limited to 40% of the value of the claim value accepted under Accidental Death or Disability Claim or Rs5 Lakhs, whichever is lower.
  2. Hospital Confinement Allowance: If the Insurance Company accepts a claim for death or disability, then the Bajaj Allianz Group Personal Accident Insurance Policy pays Rs 1000/- for each complete calendar day that the Insured employee is hospitalised for medical reasons because of the Accidental Bodily Injury he has met with. However, the amount is limited to Rs 30,000/- during the Policy Period even if there is more than one claim for the Insured Employee.
  3. Child Education Support: If an Accidental Bodily Injury results in Death or Permanent Total Disablement, then the Policy will make a one-time payment of Rs 5000/- each towards the cost of education of up to 2 dependent children of the Insured Employee who are under the age of 19 as on the date the employee met with an Injury.
  4. Transportation Cover: If the Insurance Company accepts a claim for Accidental Death, then the Bajaj Allianz Group Personal Accident Insurance Policy, then the Policy pays for actual cost of transportation of the remains of the Insured Employee from the place of death to a hospital, Insured’s home, cremation ground or a burial ground. This amount is limited to the lower of Rs5000/- and 2% of the Sum Insured.

What are the Benefits of Bajaj Allianz Group Personal Accident Insurance Policy?

The benefits of Bajaj Allianz Group Personal Accident Insurance Policy are as follows:

  • Comprehensive Coverage: Bajaj Allianz Group Personal Accident Insurance Policy provides comprehensive coverage for death, disability, and injury caused due to accidents.
  • Flexible Premium Computation: Three different levels of premium ranges are offered based on your occupation and Sum Insured opted for. You can choose any premium slab as per your needs.
  • Hassle-Free Claim Settlement: Their in-house claim settlement team provides seamless and quick claim settlement.

What are the Exclusions under Bajaj Allianz Group Personal Accident Insurance Policy?

The major exclusions under Bajaj Allianz Group Personal Accident Insurance Policy are listed below:

  1. Any expenses related to maternity, miscarriage, complicated deliveries and caesarean section
  2. Accidental Death or Disability arising out of the following are not payable:
  3. Suicides and Self-Inflicted Injury
  4. Accident Death or Disablement caused while under the influence of Drugs, Alcohol, or other Intoxicants
  5. Arising from the insured employee committing any breach of law with criminal intent
  6. Whilst participating as a driver, co-driver or passenger of a motor vehicle during motor racing or trail runs
  7. As a result of any curative treatments or interventions that the Insured carries out or has carried out on his body
  8. Arising out of the participation of the Insured Person in any naval, military or air force operations whether in the form of military exercises or war games or actual engagement with the enemy, whether foreign or domestic
  9. HIV, AIDS or other forms of sexually transmitted conditions
  10. Accident Death or Disablement caused because of participation in Riot, Felony, Crime or Civil Commotion
  11. Accidental Death or Disablement caused due to participation in War, Civil War, Invasion, Revolution, Act of Foreign Enemy etc.

How to Cancel Bajaj Allianz Group Personal Accident Insurance Policy?

The Employer can cancel Bajaj Allianz GPA Insurance Policy by sending 15 days written notice to the Insurance Company. If no claim has been made under the Group Personal Accident Insurance Policy, the premium will be refunded depending on the time the policy has been in effect.

The refunded premium will depend on how long the GPA Policy has been in effect and will be reimbursed as per the below table.

Period On Risk % of Annual Premium Refunded
1 month 75%
3 months 50%
6 months 25%
12 months Nil

How to Buy Bajaj Allianz Group Personal Accident Insurance Policy?****

Qian Insurance Broking is a licensed Group Personal Accident Insurance Broker. Our team will assist you with the best GPA Insurance Policy quotes and also help with the entire claims process under a Group Personal Accident Insurance Policy.

As a licensed of Bajaj Allianz GPA Insurance Broker, we will take you through the entire process hassle-free, from filling out the proposal form to submitting all the documents required for the claims. If you wish to buy Bajaj Allianz Group Personal Accident Insurance Policy to protect employees against accidental death or disability, we at Qian would be happy to assist you.

Contact us today to purchase Bajaj Allianz Group Personal Accident Insurance Policy or you can also email us at 📧 support@qian.co.in or call us at 📞 022-35134695.

  1. Group Personal Accident Insurance Policy For Employees
  2. Secure Employees against Accidental Death or Disabilities
  3. What is a Group Personal Accident Insurance Policy?
  4. What does a Group Personal Accident Insurance Policy cover?
  5. Accidental Death:
  6. Permanent Total Disability:
  7. Permanent Partial Disability:
  8. Temporary Total Disability:
  9. What are the additional Covers available in a Group Personal Accident Insurance Policy?
  10. Repatriation of Mortal Remains:
  11. Ambulance Charges
  12. Loss of Job Cover:
  13. Daily Cash Allowance:
  14. Accidental Hospitalisation Expenses:
  15. Treatment Outside India:
  16. Children’s Education Expenses:
  17. Prosthesis And Artificial Limbs:
  18. What are the Best Group Personal Accident Insurance Policies in India?
  19. What is the Sum Insured for a GPA Insurance Policy?
  20. How to Cancel a Group Personal Accident Insurance Policy?
  21. What are the major exclusions under a Group Personal Accident (GPA) policy?
  22. How to make a Claim under a Group Personal Accident Insurance Policy?
  23. Compare and Buy Group Personal Accident Insurance Policy with Qian!
  24. FAQS
  25. Testimonials

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