What Is The Full Form Of GPA In Banking?
GPA full form in banking is Group Personal Accident. It’s this cool insurance package that banks and financial groups offer. The whole point of it is to give you a financial safety net if you ever have an accident that leads to physical injury, disability, or even death. The kicker is, this safety net is on guard 24/7, no matter where you are, whether you’re at work, at home, or even on a hike in the mountains! If you’ve got GPA coverage, and you get into an accident, and that ends up taking your life, the policy steps in. It dishes out a set amount of money to your chosen beneficiaries or your estate. This cash buffer can be a real lifesaver, helping your family navigate through a heartbreaking situation.
What Else Should You Know About GPA?
If you become permanently disabled because of an accident, your GPA has got your back. The payout you get will be determined by how severe your disability is. The policy has a range of disability levels laid out and each level has a matching payout. What’s even cooler about GPA is that it also covers your medical bills if you get into an accident. We’re talking about hospital stays, surgeries, medications, and any other treatments you might need.
Other Full Forms Of GPA In Banking:
- GeM Pool Account