GPA Insurance

Group Personal Accident (GPA)

Group Personal Accident (GPA) insurance provides compensation to accidents in the event of injuries, disability or death that may occur due to accidents, external and visible events.

While it certainly provides an extra level of financial protection to the employees, GPA also assists the company to take care of its employees. The policy pays out-of-pocket medical expenses, disability and even compensation on death that may occur due to untoward accidents during working hours, inside or outside the working area.

With a view to providing better health and financial security to the citizens, the Nepal Government has made it mandatory to provide GPA of Nrs. 7 lakhs and Medical/Health Insurance of 1 Lakh to all companies since July 2018.

Group Personal Accident Insurance of Employees:

Every working staffs can be insured under this policy for the benefits against any bodily injury resulting solely and directly from accident caused by external violent and visible means.

Proposed person: Named and Unnamed Employees of the proposer company

Number of persons: to be advised

Sum insured (per person): to be advised

Benefits covered:

  • Death
  • Permanent Total Disablement (PTD)
  • Permanent Partial Disablement (PPD)
  • Accidental Medical Expenses as per the policy.

Risk covered: Normal Risks + RSMAST Risks (Terrorism Group Risk)

Policy terms and conditions: as per Company's Insurance Policy

Validity of cover

  • Named Employee: 24hours/Worldwide
  • Unnamed Employee: during work hours and at the working area

Note:

  • Any accidental injuries (incl. death) caused by RSMAST (Riot, Strike, Malicious Acts, Sabotage & Terrorism) fall under Terrorism Group Risk. All other accidental injuries (incl. death) fall under Normal Risks as per the policy terms.
  • The benefits covered and amount payable for various benefits are as below:
    • Death - 100% of Sum Insured
    • PTD - 100% of Sum Insured
    • PPD - Various % of Sum Insured depending on the type of disablements
    • Med. Exp. - Actual expenses or 10% of Sum Insured, whichever is less.
    • Maximum limit – Rs. 100,000/-

PTD (Permanent Total Disablement) is the situation, where after accidental injury the insured person becomes so disable that he/she is not able to carry his/her normal profession completely and permanently e.g. loss of both hands (above wrist), loss of both legs (above ankle), loss of both eye sight, complete the irrecoverable paralysis etc.

PPD (Permanent Partial Disablement) is the situation, where after accidental injury the insured person becomes disable and not able to carry his/her normal profession partially e.g. loss of one hand, one leg, loss of hearing capacity. The payable amounts for PPD are as per the attached sheet.

Special Features

  • Provides 100% Sum Insured to the insured in case of accidental death and permanent disability (in case of unnamed policies, only in site)
  • Compensation as per policy terms schedule in case of partial permanent disability .
  • Temporary disability allowance of one forth of monthly salary or 1% of sum Insured, which ever is lower (only for named policies)
  • Flexibility to take named or unnamed policies
  • Named policies provide accidental coverage 24 hours, even outside work area while Unnamed Policies are limited to working hours and in the work area only.
  • Medical expenses to the extent of 10% of Sum Assured (in a year) not exceeding One Lakh Nepali Rupees.