Groupama Insurance has adjusted its Personal Accident policy to aid brokers targeting the SME sector.
Elements 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.
Neil Thunström, Head of Personal Accident and Travel at Groupama Insurances said: "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."
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.
