Group Personal Accident is an annual renewable policy which provides worldwide and 24- Hr coverage in the event of death or bodily injury resulting from an accident.
Personal Accident
Benefits
The Benefits under the plan include:
Accidental Death and Dismemberment[AD&D]
- Designed to cover deaths or permanent total disablement arising from accidents
- Coverage is extended to include loss of or loss of use of limbs occasioned by accidental injury
- Coverage bases may be flat amounts or multiples of salary, or a combination of both
Temporary Total Disability[TTD]
- Designed to replace partial loss of income resulting from extended absence from work caused by accidental injury
- Replacement percentages vary from 50% to 80% of salary, once contractual requirements have been met
- Coverage is limited to a period of two (2) years for a single disability
Accidental Medical Reimbursement[AMR]
- Designed to reimburse a covered member who incurs medical expenses as a result of an accidental injury
- Covered expenses include ambulance service, hospitalization, diagnostic services and medical miscellaneous expenses, up to the maximum stated in the schedule of benefits
- The benefit is computed on a per disability basis
Even though all three benefits are accessible under the plan, Accidental Death and Dismemberment is a mandatory benefit when selecting a plan.
Coverage
- Salary Based
- Flat Amount
Canopy’s Personal Accident Insurance is available to all full-time employees, 18 years and older. Coverage terminates on attainment of 70th birthday
Canopy’s Personal Accident Plans are available to all full-time employees who join their companies prior to the age of 69.