Personal accident insurance is an agreement between the insurance company and the person insured where the former will provide financial compensation to the latter or his/her family in case of permanent disability/death caused directly and only due to any accident. You will find an accident insurance policy from several insurance companies in the country. In case there is an injury due to an accident that requires immediate treatment, the policy will ensure coverage for the costs in this case. These reimbursement amounts are very useful in such situations. Several policies have risk coverage against accidental death of the person insured. There is coverage for disability caused by an accident. These plans are often available as add-ons with home or car insurance policies
Accidents are uncertain and unfortunate. So, get a cover for life’s unexpected events with Personal Accident Insurance. Get a financial coverage against bodily injury, disability, or death caused due to accidents. Cover your hospital bills and get a hospital confinement allowance as a compensation for your loss of running income.
Cover the financial liability arising due to a personal accident or an injury. Keep your savings intact by paying the medical expenses using the Personal Accident Insurance Claim
Get a reimbursement of up to 40% of valid claim amount or actual medical bills, whichever is less.
Your regular income is disturbed due to an accident? Receive Rs.1000/day allowance for up to 30 days of hospitalization.
Not just your medical expenses, but your children’s education fee is also covered under this insurance plan. In case of death or a permanent disability, get 10% of capital sum insured or get Rs.5000/child below the age of 19 years, whichever is less.
Accidental Death: During the Policy Year, the Insured Person sustains Injury which directly and independently of all other causes results in death of the Insured Person within twelve (12) months from the date of Accident, then We will pay the Sum Insured as stated in the Schedule.
Permanent Total Disability (PTD) : During the Policy Year, the Insured Person sustains Injury which directly results in Permanent Total Disablement within twelve (12) months from the date of Accident, then insurance Company may agree to pay the percentage of the Sum Insured shown in the Table of Events below and as specified in the Schedule.
i. Permanent total loss of sight of both eyes
ii. Permanent total loss of sight of one eye and physical separation of or the loss of ability to use either one hand or one foot
iii. Permanent total loss and physical separation of or the loss of ability to use both hands or both feet
iv. Permanent total loss and physical separation of or the loss of ability to use one hand and one foot
Permanent Partial Disablement(PPD) During the Policy Year, the Insured Person sustains Injury which directly results in Permanent Partial Disablement within twelve (12) months from the date of Accident, then Insurer may agree to pay the percentage of the Sum Insured as per the Policy Terms & Conditions.
During the Policy Year, the Insured Person sustains Injury which directly results in Temporary Total Disablement which completely prevents the Insured Person from performing each and every duty pertaining to employment or Occupation, then We will pay a weekly benefit, provided that:
i. The Temporary Total Disablement is certified by a Medical Practitioner, ii. Insurer liability to make payment will be limited to of 1% of the Sum Insured of Rs. 5000/- for each week during the period of temporary total disablement and/ or as specified in the Policy Schedule and if the Insured Person is disabled for a part of a week, then only a proportionate part of the weekly benefit will be payable. iii. Insurance company will not pay any amount in excess of the Sum Insured mentioned in the Policy Schedule. iv. Insurance Company will not pay any amount in excess of the Insured Person’s base weekly income excluding overtime, bonuses, tips, commissions, or any other special compensation In addition to above there are some optional Rider Benefits:
Education Allowance: upto 10% of Sum Insured or Maximum of Rs. 100000 for 2 children, its vary from company to company
Family Transportation :upto Rs. 25000/-
Modification Allowance: upto Rs. 25000/-
Repatriation Of Remains : Funeral expenses upto Rs. 5000/-
