Choosing The Right Group Accident Insurance Policy
Risk is an always-present component in all accidents. Some activities have lower or higher risk rates. The other component is the chance for the accident itself to happen, also called probability of occurrence. This latter factor has more of a random nature, which makes it difficult to predict. While studies have proven to be effective at determining danger levels with acceptable precision, it is still impossible to accurately know WHEN the next accident will happen.
Every activity related to work has some potential risk involved, especially when the tasks to accomplish is near machinery or construction items. There are also considerable amount of risk involved when working near vehicles, at heights above 6 feet, in hot places like boiler rooms, within confined areas like underground excavations, places near flammable materials, explosive or corrosive substances, etc. The list could go on and on, even office workers are at some degree exposed to hazardous situations. When we include natural disasters like earthquakes, floods or hurricanes, one can realize that we are all accident-prone.
What To Do?
Given these situations, small and midsize businesses realized that they do not want to put their productivity in the hands of chance. The right path to follow in order to avoid accidents and their undesirable consequences is prevention. That must be every serious business’ first line of defense. Now, when it comes to minimize or mitigate the accident’s consequences, the best thing employers can do is getting group accident insurance.
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In the unfortunate case of an accident, quick actions must be taken. If the company does not have any kind of accident insurance for its employees, then the consequences can be pretty serious. For example, the employee could demand the company to bear the medical cost of even take legal action if related to poor working conditions. If the employee is one of the more talented workers within the organization, besides paying for his or her recovery, the company’s income rate will be affected due to diminished in production. If serious injury results from the accident, the company would have lost a valued employee and will not be able to compensate him or her as such, unfortunately.
The above-mentioned scenario could have resulted in a more favorable situation for both parties by just having some kind of accident coverage. An advantageous cost-benefit insurance premium would have given the employee access to quick medical attention. Competent insurance policies, besides reimbursing the costs of medical care, should also provide indemnity in cases where partial or total disablement resulted due to an accident.
At Group Insurance Plan Malaysia, our coverage are recognized as a more comprehensive and high quality choice based on rates and benefits.
Group Insurance Benefits
Having discussed the importance of having an accident insurance within a company, let’s now see the major factors of a good insurance plan. For small and mid-size businesses, it is always wise to acquire a group accident insurance policy. It is not only a simpler solution, but also a cheaper one.
Meet the A-SME Plus and Corporate PA Plus insurance plans. We offer a series of group insurance products for businesses with 5 to 150 workers. The two available packages A-SME Plus and PA Plus insurance plans provide coverage for a wide range of situations: term life, healthcare, accidents and more.