What Is The Personal Accident Insurance Policy?

The personal accident insurance policy offers the coverage to a person from permanent total disablement, permanent partial disablement, temporary total disablement and death due to accident. Read on the article to know more about personal accident insurance policy.

Can you remember a person who has met with an accident and he was the sole earner in the family? Mostly yes. A personal accident insurance plan covers a person from accidental death, accidental disability and various other features. There could be several worst consequences of meeting with an accident such as death or pause in income. In today’s fast life, the chances of death or getting hospitalized for some ailment is far lower as compared to chances of meeting with an accident these days. So in current scenario, it becomes necessary to buy an accidental insurance policy which can offer immense benefits to the policyholder at the time of mishappening. Apart from buying health insurance, it is recommended to buy a personal accident policy also, which offers coverage in case of a death due to accident, permanent total disablement, permanent partial disablement, temporary total disablement.

Some of the key features of personal accident insurance plan are-

  • There is no need of health check-up for issuance of policy.
  • The policy enjoys global coverage.
  • The personal accident insurance policy offers coverage starting from Rs 5 lakh to Rs 50 lakh.
  • The policy enjoys free lookup period of 15 days.
  • 5% per cent claim free year.
  • Here, you can enjoy family discount of 10 per cent.

Some of the exclusions of personal accident insurance plan are-

  • Intentional self-injury, suicide or attempted suicide by the policyholder.
  • In the influence of intoxicating liquor or drugs.
  • Commitment of any breach of law with criminal intent.
  • If the policyholder is suffering from any pre-existing condition or pre-existing physical or mental defect.

In the personal accident insurance policy, the premium amount doesn’t depend upon the age factor. It means, whether you are 25 years of age or 50 years of age, your premium will not be decided by the insurance company on the basis of it. Rather it would be decided on the basis of working conditions and nature of job. It means, if you are the software engineer then your chances of accident would be less as compared to the person who is in army or is working in a factory in amidst of dangerous working conditions. There are many insurance companies in India which are offering personal accident insurance policy. Some of them are-

  • Apollo Munich Accidental Plan
  • Bajaj Allianz Premium Personal Guard
  • Tata AIG Personal Guard
  • Starhealth Accident Care
  • National Insurance Personal Accident
  • Future Generali Accident Suraksha, and many more.

Apollo Munich health insurance | Bajaj Allianz health insurance

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