Personal Accident Cover
What is Personal Accident Cover?
Personal accident insurance is an insurance policy to provide employees with financial compensation if they suffer a serious injury or die as a result of an accident. This insurance offers either a lump sum or regular payments to cover the financial impact of accidents, including medical expenses, rehabilitation, and lost income due to permanent disability or death. It is generally calculated as a percentage of the total insured sum based on the severity of the injury.
Benefits to Employer
Including personal accident insurance as part of a benefits package demonstrates a commitment to employee wellbeing and financial security. It helps enhance the company’s reputation as a caring employer, which can contribute to higher employee retention and engagement. This coverage can help employers manage the impact of serious accidents within their workforce, reducing the financial strain on employees and potentially minimising long-term absenteeism due to injury or disability.
Benefits to Employee
Employees benefit from personal accident insurance by having financial protection in case of serious injury or accidental death. This coverage provides peace of mind, knowing that they or their family will receive financial support in the event of an accident, helping to cover medical expenses, rehabilitation, or lost income. A lump sum payment can be crucial for employees who suffer long-term disabilities, helping them to maintain financial stability during recovery or if they cannot return to work.
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Ben is easily the most engaged initiative we’ve ever had. It gets everything to everyone in different locations, and I can’t even tell you how much time it’s saved us.
