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Can I insure the lives of employees? |
| A |
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Yes, you can take up a group personal accident insurance for your employees. Group personal accident insurance pays benefits to the company when the employee injures or death caused by an accident. The policy is normally owned by the company, which pays the premiums and is the beneficiary. |
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| Q |
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Do I still need a personal accident insurance if I already have a life insurance? |
| A |
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Yes, you do. Personal accident insurance covers permanent disablement such as loss of sight, limbs and hearing resulting from an accident and medical expenses, which might not be covered under the life insurance. |
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| Q |
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How can I nominate a beneficiary for my personal accident policy? |
| A |
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Simple, you are just required to complete a nomination form. |
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| Q |
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If I have two personal accident policies, will the benefits on both policies payable?
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| A |
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Yes, it will be payable on both policies in respect of death benefit or permanent disablement benefit. |
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