Groupama Insurances’ Personal Accident policy has been enhanced to give brokers targeting the SME sector a powerful sales proposition at a time when small businesses can ill afford the potential impact of lengthy staff absences from work.
Neil Thunström, Head of Personal Accident and Travel at Groupama Insurances said: “Small businesses by their nature are heavily dependent on key individuals within the workforce to keep the business going. In these tough times as many firms downscale their workforce it’s critical that brokers help them understand the benefits of PA cover. This valuable cover not only helps a business if an accident occurs but supports the employee and their families. Groupama Insurances Personal Accident policy gives brokers a valuable tool in their armoury, providing a great value add on for their clients.
Key elements to Groupama Personal Accident include retraining benefits up to the age of 70 given the older age at which people are retiring, increased death benefit where an individual has dependent children and enhanced compensation levels for catastrophic injuries resulting in quadriplegia or paraplegia. (See summary).
Neil Thunström concludes: “There’s a misconception that PA is a difficult product to sell. This isn’t the case. We are happy to discuss individual risks and tailor the cover to meet clients’ requirements and budgets. Now more than ever, brokers need to maximise the opportunities for selling PA cover – there really hasn’t been any better time.”
Key Elements to Groupama Personal Accident Cover
- An additional 2% of the death benefit is payable for each dependant child up to a maximum of 10% of the death benefit.
- Enhanced benefit payments in the event of injury that results in Quadriplegia +20%* or Paraplegia +10%* of the (*Permanent Total Disability benefit.)
- Personal effects covered up to £500 per insured person
- Funeral expenses to £5,000 per insured person
- Retraining expenses for insured person’s up to the age of 70 years.
- The hospitalisation benefit is payable at £50 per complete 24 hour period for a maximum of 100 days.
- The hijack and kidnap benefit provided up to £5,000.
Business Travel
- The hospitalisation benefit (like that provided under Personal Accident) is £50 per 24 hour period for a maximum of 100 days.
- The childbirth and pregnancy limitation only applies after the 36th week of pregnancy.
Personal Property and Money
- The personal property section automatically includes loss of essential documents, meaning passport, visa, travel tickets, driving licence or other essential travel documents.
- Groupama will pay up to £500 for the replacement of keys and lock mechanisms for the insured person’s home if the keys are lost, damaged, stolen or destroyed whilst on an Insured journey.
- Reasonable expenses incurred for the purchase of essential toiletries or clothing up to £750
- Reasonable and necessary additional cost of travel and accommodation incurred in obtaining a replacement passport or essential documents following loss or theft during a journey of up to £1,000.
- Single article limit of £1,000.
- Cash limit of £1,000.
Illness Extension
- Illness cover is available up to the age of 70 years.
