Group Accident Insurance

group-personal-accidentAfter personal accident insurance for the employees of your business? Compare group policies online.

Accidents can occur both in and outside of the workplace and can have significant impacts on both employers and employees. For example:

  • If an accident occurs during working hours. Business employers can be held liable for an employee's injuries.
  • If an injury occurs outside of work. Then an employee will need to cover the cost of injury and loss of income, while employees will need to cover the cost of replacing a key employee business.

Who needs group accident insurance and why?

Group accident insurance is group cover taken out by employers to:

  • Protect their employees in the event of accidental injury or death.
  • Protect employers if they are held liable for on site injuries.
  • Help employers reduce the financial losses they could face from employee down-time and recruitment costs.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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Compare accident cover quotes from these direct brands

Details Features
Income Protection
Income Protection
Cover up to 85% of your income up to $10,000 per month if you can't work due to sickness or injury. Cover for over 1,000 jobs and full-time, part-time and self-employed.
  • Monthly benefit up to $10,000
  • Cover for applicants up to age 60
  • 30 day cooling-off period
Go to site More info
Income Protection
Income Protection
Receive up to 75% of your income each month to a maximum of $25,000 if you can't work due to serious illness or injury.
  • Monthly benefit up to $25,000
  • Available for applicants up to 59 years old
  • 30 day cooling off period
Go to site More info

What does a group policy cover?

Here is a look at the different types of cover available under group personal accident insurance and their associated benefits:

  • Disability cover. If a covered employee meets with an accident that leaves them disabled in any capacity, whether temporarily or permanently, and such a disability does not allow them to work, then you will get disability benefits under the group accident insurance. These benefits can be used to pay compensation to the injured employee. Also, if the employee is temporarily out of work, they can even receive weekly injury benefits that will help to cover the loss of income arising from the temporary inability to work due to the accident
  • Accidental death cover. If an injury sustained from an accident results in the death of the employee, then accidental death benefits will be paid out by the insurance company. These benefits are usually in the form of a lump sum payment. If the insured person has died leaving behind dependent children, then additional benefits for the surviving children may also be paid. In situations where an insured employee and their spouse both die from the same accident, a lump sum orphaned benefit may also be applicable for the surviving children
  • Funeral cover. Most group personal accident insurance policies also include cover for funeral expenses that may arise from the accidental death of an insured employee. Usually a maximum limit for such benefits is mentioned at the time of taking the policy
  • Miscarriage cover. If an insured employee who meets with an accident happens to suffer a miscarriage following the accident, then additional benefits will be paid in such situations. Also, if the employee was pregnant and the accident results in a premature delivery, then additional benefits will also be paid by the insurance company
  • Recruitment expenses cover. If the company incurs any additional expenses to hire another employee in a temporary capacity so as to handle the work of the injured employee, such expenses are covered under group accident insurance. Also, if the accident leaves an employee permanently unable to work and the business needs to find a suitable replacement for such an employee, then all recruitment expenses relating to finding the replacement will also be covered.

What features should you look for in group personal accident cover?

The following are some of the key features to look for in a personal accident policy;

  • No age exclusions (cover available to all employees)
  • A Return to Work Assistance Benefit to aid in recovery and recommencement at work
  • A lump sum payment for accidental death
  • Weekly benefits for temporary, total or partial disablement
  • Weekly loss of income benefits
  • Funeral expenses (to a set benefit amount)
  • Replacement staff costs and/or recruitment costs
  • Dependent child supplement

What are some extra benefits of personal accident cover?

As well as offering a range of key benefits, personal accident insurance can be tailored to suit your individual business requirements and can include optional extras such as;

  • Domestic home help
  • A home nursing care benefit
  • Medical expenses cover for non-Medicare services
  • A student assistance benefit
  • Cover for HECS/post graduate fees
  • An AIDS/HIV needle stick injury benefit
  • Working hours only cover (including or excluding commuting)
  • Cover for voluntary work
  • Home and vehicle modification expenses

Is group accident insurance worth it?

Group accident insurance has several other advantages;

  • It is much cheaper than purchasing individual policies, as the risk to the insurer is much lower when shared amongst a group
  • When offered as part of a job package, it can help employers obtain and retain good workers
  • It protects employers from compensation claims that might otherwise result from a death or injury at work

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Richard Laycock

Richard is the Insurance Editor at Finder, wrangling insurance product disclosure statements for the better part of five years. His musings on insurance can be found the web including on Yahoo Finance, Travel Weekly and Dynamic Business. When he’s not helping Aussies make sense of insurance fine print, he is testing the quality of cocktails in his new found home of New York. Richard studied Media at Macquarie University and The Missouri School of Journalism and has a Tier 1 certification in General Advice for Life Insurance.

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2 Responses

  1. Default Gravatar
    mandyMay 23, 2018

    I am a small business in Queensland. I have been told that It is compulsory for a business to have accident insurance cover for employees. This covers an employee if they are injured on their way to work- not just on site.
    I already hold Broadform Liability (public and product) as well as Leaseholder insurance. Do i have to take out another policy at 1.2% of my payroll? An additional cost to small businesses?

    • finder Customer Care
      JeniMay 25, 2018Staff

      Hi Mandy,

      Thank you for getting in touch with finder.

      Workers Compensation insurance is compulsory. This link provides information to help you understand.

      Safety in the workplace is critical to businesses, no matter what size. Small business owners have a duty to their workers to ensure work health and safety measures are in place. Even if there are no employees, small businesses must ensure that their business doesn’t create health and safety problems for workers, customers and the general public.

      Knowing and following the occupational work health and safety (OH&S) laws will help avoid the costs and damage caused by workplace injury and illness.

      Safe Work Australia leads the development of national policy to improve work health and safety and workers’ compensation arrangements across Australia. Safe Work Australia is not in charge of regulating work health and safety laws. It is the responsibility of the Commonwealth, states and territories to regulate and enforce work health and safety laws.

      I hope this helps.

      Have a great day!


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