Is accident insurance worth taking for employee if the workforce is already covered in ESIC ?

Is it beneficial to take group accident insurance policy if the staff is covered in ESIC already.

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It is always better to take the additional policy to safeguard the employees.

ESIC is also having the similar Disability clause:

IVDisablement Benefit (Cash)

Disablement Benefit is payable to insured employees suffering from physical disablement due to employment injury or occupational disease.

  • An insured person should be an employee on the date of the accident.
  • Temporary disablement benefit @ 70 per cent of the wages is payable till temporary disablement lasts and is duly certified by authorised insurance medical officer.
  • In case of permanent disablement, the cash benefit is payable for life. Amount payable is worked out on the basis of loss of earning capacity determined by a medical board.
  • Disablement benefit is payable within one month of submission of the complete claim papers.