my company pays 3 times of my fixed pay covered under Personal Accident Insurance.. What it means?

Asked By: Naresh
On: 21st Jun 2012 8:40 PM
Answered Within: 1 Days

MIC Expert

Answer

Hi,

If your employer is providing you 3 times the fixed pay as Personal Accident Insurance, it most probably means that they would pay your family 3 times the sum in case you happen to die in an accident while working in the company. It could also mean that they would provide you hospitalization benefits for 3 times the amount as your recovering expenses.

However, you would need to provide us with the details of the plan or the name of the policy for us to be able to explain the more details. As of now, I am explaining only as per the theory and not specific to your plan.

Please do get back to us with more details so that we can help you further. Also let us know if you wish to know about health insurance plans and their benefits.

Answered By: MIC Expert
On: 23rd Jun 2012 2:23 PM

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