What is the full form of PA in Insurance?
The PA full form in insurance is Personal Accident Insurance. PA insurance is the annual policy for workers that offer them compensation in the event of work-related accidents and corresponding disabilities or even death. But there should be evidence of violent, external and visible accidental events to make the claim.
Indent of the PA insurance policy:
This coverage is primarily intended to provide compensation to the insured if they sustain bodily injury as a result of an external, violent, and visible accident. As a result, the policy excludes coverage for death or injury caused by any ailment or condition. PA insurance is offered as individual policies, group policies, and even as Grameen PA coverage.
Benefits of PA insurance:
Personal accident insurance offers complete protection in terms of accidental injuries. If the insured meets with an accident, this cover will offer financial aid to help cover the medical expenses for the treatment, which includes the charges of hospitalization, medical bills, and treatment costs. It also offers compensation to the affected who suffer from permanent disability as a result of the accident. In cases of death, the policy offers compensation for the surviving members of the family.