As any employer knows, employees keep your business going. They’re your hardest working assets but they’re at risk on a daily basis. Accidents in the workplace can unfold at any time. These often leave a string of consequences in their wake. From absenteeism to disabilities and even fatalities, accidents on the job are a cost to both employer and employee. But this needn’t always be the case…
Group Personal Accident Insurance provides compensation for bodily injury and even death in the result of work incidents. These include those injuries caused by accidental, violent, external and visible means, to any principal member or employee specified in the insurance policy.
Why do you need it?
The unpredictable nature of any workplace makes this insurance a necessity but there are a host of other reasons. It keeps you, the employer from having to pay out sums of money to compensate injured employees who can no longer work or are temporarily unable to. It’s just another way that you can look out for your employees and yourself, by ensuring that you are covered in the in the event of an incident. That way, your employees can still provide for their families and your business is not out of pocket in a way that could affect its future.
What it provides compensation for:
- Death or bodily injury
- Temporary or permanent disability
- Medical expenses
You own a successful butchery that’s been growing from strength to strength over the last five years. You took out a Group Personal Accident Insurance policy after meeting with your broker, who advised that it was a worthwhile option to cover your employees. You knew that accidents could happen at work, but you never imagined that one would happen in your shop. During working hours, one of your staff suddenly slip and fall, fracturing their pelvis in the process.
Their injury renders them unable to work and as a result, they stand to lose a much-needed income. To make matters worse, this staff member is married and he and his wife have a newborn baby. He also has no medical aid to speak of, making the mounting medical bills a grave concern for his young family. Luckily for you and your employee, his medical bills will be taken care of and his loss of income will be compensated for. This is all because you have a Group Personal Accident Policy that allows your injured staff member to recover without worry so that he can return to work once he is well again minus the debt.
At Compendium Insurance Brokers, we know that you want to make sure that your employees are taken care of. That’s why we offer you a Group Personal Accident Policy that looks out for employees while they’re on the clock. For more information on this plan various other insurance products that we offer, contact us today on 031 242 6800. www.cig.co.za