Group Insurance 105 views August 6, 2021

If you are looking to protect the finances of your employees from death or disablement due to an accident, Chola Comprehensive Group Personal Accident Policy could be the right option for you. As the name suggests, this plan offers comprehensive coverage with its wide range of basic and optional covers.

Before we discuss them in detail, have a look at the highlights of the plan mentioned below. 

  1. Accidental Death Cover
  2. Permanent Total/Partial Disablement Cover
  3. Education Grant Cover to Two Children
  4. Tuition Benefit
  5. Daily Hospital Cash Benefit
  6. Family Transportation Benefits
  7. Ambulance Charges Cover up to INR 1,000
  8. Repatriation of Mortal Remains Benefit
  9. Reimbursement of Cremation Cost
  10. Coverage Against Cost of External Aids
  11. Convalescence Benefit
  12. Broken Bones Benefit Up To 100% of the Sum Insured
  13. Accidental Miscarriage Cover
  14. Terrorism Cover
  15. Lump Sum Benefit on HIV Diagnosis up to INR 25,000
  16. Burn Injury Benefit
  17. Double Payout owing to death due to air carrier (Scheduled/ Unscheduled Flights)

Continue reading this page to understand the features and benefits of the group plan.

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Let’s Understand the Features and Benefits of Chola Comprehensive Group Personal Accident Policy

We have discussed the benefits of the Comprehensive Group Personal Accident Policy below.

Basic Coverage

Accidental Death Coverage

If an insured person faces an accidental death during the policy period within twelve months of the occurrence of the injury, Chola MS will pay a fixed sum insured to the nominee or beneficiary. This comprehensive group personal accident policy also pays up to 3% of the sum insured or INR 6,000 for transporting the mortal remains from the place of death to the hospital, residence, cremation or burial ground. If an insured person uses ambulance services after an accident, the policy will also cover up to INR 1,000 on such expenses.

Coverage Against Performance of Religious Ceremonies

Apart from accidental death coverage, the policy also pays up to INR 5,000 or actual costs (whichever is lower) against the expenses incurred on the religious ceremonies till the time of cremation and anyone post-cremation ceremony.

Permanent Total Disability Coverage

If an insured member faces an accident that results in permanent total disability (the disability should continue for at least twelve consecutive months), the policy will pay a definite percentage of the sum insured as per the below table.

DisabilityPercentage of the Sum Insured
Loss of sight of both the eyes100
Loss of two entire hands or two entire feet100
Loss of one entire hand and one entire foot100
Loss of sight of one eye and such loss of one entire foot or hand100
Complete loss of hearing of both ears and complete loss of speech100
Complete loss of hearing of both ears or complete loss of speech and loss of one limb or
loss of sight of one eye
100
Comatose State100

Note: The overall coverage will not be more than 100% of the sum insured.

Accidental Permanent Partial Disability Coverage

In case of a permanent partial disability due to an accident, the policy will pay up to 50% of the sum insured as per the extent of losses. To know more, check the below table.

Losses CoveredPercentage of Sum Insured
Loss of one entire hand50
Loss of one entire foot50
Loss of use of one eye50
All Toes20
Great Toes - both phalanges5
Great - One phalanx2
Other than the great toe, if more than one toe is lost, each2
Loss of hearing in both ears60
Loss of hearing in one ear30
Loss of Speech60
Loss of four fingers and thumb of one hand40
Loss of four fingers35
Loss of thumb - Both phalanges25
One phalanx10
Loss of Index finger - Three phalanges10
Two phalanges10
One Phalanx10
Loss of Middle finger - Three phalanges6
Two Phalanges6
One Phalanx6
Loss of ring finger - Three phalanges5
Two Phalanges5
One Phalanx5
Loss of little finger - Three phalanges4
Two Phalanges4
One Phalanx4
Loss of metacarpus - first or second (additional)3
Sense of Smell10
Sense of Taste5
Any Other Permanent Partial DisablementAs assessed by the panel doctor of the insurer

Optional Benefits

This comprehensive group personal accident policy offers a few optional benefits at an additional premium. We have talked about some of them below. Do check.

Weekly Benefit

Under this benefit, the insured member will get a weekly benefit during continuous temporary total disability. Such temporary disability should prevent him/her from engaging in employment or occupation. The coverage amount will be up to 1% of the sum insured per week for a maximum of 100 weeks.

Multifold Permanent Total Disablement Benefit

If an insured person faces permanent total disability due to an accident, the benefit will increase by up to 400%. The other options are 100%, 200% and 300%, from which you can choose as per your need.

Education Grant Cover for Dependent Children

If a person dies or faces permanent total disability during the policy period, the policy will offer education grants to a maximum of two dependent children studying in an educational institute as a full-time student (on the date of accident).

Education Encouragement Grant Cover

When an insured person faces an accidental injury that leads to an admissible claim under basic cover of accidental death or permanent total disablement, the policy will offer educational encouragement grant to the eligible child of the insured person. The policy will offer this optional benefit for a maximum of four continuous years or until the child reaches 23 years.

Tuition Benefit

The policy will also reimburse the fees for home tuition if an insured person is unable to attend the college/school due to an accidental injury.

Hospital Daily Cash

Insured members will also get daily hospital cash benefits for each continuous and completed 24 hours of hospitalization due to an accident. This benefit will be available up to 45 days per person per policy period. Other options are 15 and 30 days.

You can also choose from multiple per day limit options – INR 500, INR 1,000, INR 2,000, INR 3,000 and INR 5,000. In case of a stay in an ICU, the per day limit will increase by 100%.

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