Group accident insurance
Group accident insurance is coverage purchased for and provided to a group as appose to an individual. For example an employer can purchase accident, health, disability and life insurance for all of its employees. Trade unions or other groups may also offer their members preferential group accident insurance rates.
The advantage is that the rate in most cases will be better than if the employees purchased their own. Also some people may not have been able to get coverage individually because of preexisting medical conditions or other factors, but under the group accident insurance policy it is possible to get cover. Also payment towards the policy is often made weekly installments, and this would generally be deducted from your salary, making it easier to pay for the policy.
Group accident insurance can also be combined with other types of insurance, for example business travel insurance cover.
Typical benefits of group accident insurance
- Lump sum payment
A lump sum payment will be made in the event of death or a permanent injury resulting from an accident. Some policies will also offer a weekly benefit if you are so seriously injured that you are unable to work following the accident.
- 24 hour employee cover
Employees can benefit from being covered on a 24 hour basis. This would include cover whilst traveling to and from work.
Claiming on a group accident insurance policy
When making a claim against a group accident insurance policy, it is normal procedure that you contact the insurance provider and inform them of the accident. An application form will be sent out to you for completion. Your application form will be assessed and a decision will be made on whether your claim for accident insurance is successful.
Generally all policies will have a given time frame in which applications can be made. This will be dependent on your insurance provider, but it is general practice that the claim should be made with 90 days of the accident. Any delay could reflect negatively on the claim.
Had an accident but no group accident insurance
If you have had an accident at work that was not your fault then you may still be able to claim personal injury compensation without group accident insurance cover.
Accident Advice Helpline is an personal injury law firm that helps victims of non fault accidents claim compensation for personal injuries.
We work with many solicitors up and down the country who have specialist experience with personal injury law.
To claim personal injury compensation the accident should have occurred within the last three years and the fault of a third party must be evident.
Contact us today to see if you do have a legitimate claim and also how much compensation you could possibly claim. Our professional and friendly staff will be happy to answer any questions and advise you on the claims procedure.
Date Published: 10th January 2013
Author: David Brown