Get covered against accidental death and disability with personal accident insurance. Buy the best plan at PolicyBazaar and save your medical expenses.
  • Compare Accidental Plans from Top Insurers
  • Lowest Premium on Presonal Accident Cover
  • Instant Personal Accident Cover Online

Personal Accident Insurance

Personal Accident Insurance policy provides complete financial protection to the insured members against uncertainties such as accidental death, accidental bodily injuries, and partial/total disabilities, permanent as well as temporary disabilities resulting from an accident. In the case of accidental death of the policyholder, the nominee gets 100% compensation from the insurer. There are various other compensations that are offered for accidental disability such as loss of eyes, limbs, and speech.

An accident does not come knocking at the door. It can happen anytime, anywhere and may result in minor to serious injuries. Any such uncertainty may lead to financial crisis, and that is why it is recommended to buy a Accidental Insurance policy. It will provide the necessary financial assistance to you and your family against accidental death, bodily injuries and disabilities (Partial/ Permanent/Temporary). There are various other rider benefits such as accidental hospitalization cover, Hospital Confinement Allowance, and Medical Expense Cover.

You can secure yourself against accidental death and disability with personal accident insurance. Purchase the best plan at Policy Bazaar and save medical expenses. At Policy Bazaar:

Reasons to Buy Personal Accident Insurance

  • One can compare Accidental Insurance plans from Top Insurers
  • Get Lowest Premium on Personal Accident Cover
  • Get Instant Personal Accident Cover Online

Alarming Statistics about Accidents in India:

Nearly 1214 road accidents occur every day in India. In recent years people have become more prone to accidents than they would have ever imagined? Here are some stats:

  • As per the Ministry of Road Transport and Highways, there were 4.64 lakh accidents alone in 2017. And nearly 1.47 lakh people died due to accidents on Indian roads.
  • And there was a rise of 1.68% in accidents in 2018, as per the recent reports.

Types of Personal Accident Insurance Policy:

Accidental Insurance Policies can be further divided into two sub-heads. Here’s a quick rundown of the two variants:

1. Individual Accident Insurance:

This type of policy guards an individual in case of any accidental damage. It covers accidental death, loss of limbs or sight, or other permanent disabilities resulting due to an accident.

2. Group Accident Insurance:

Group Accident Insurance is taken by employers to get coverage for their employees. Depending on the group size, some insurers also provided a discount on the premium. It is a good incentive/ value-added advantage for small organizations as it is available at low cost. However, this is a very basic plan and may offer limited benefits compared to an individual plan.

Accidental Insurance Coverage

You can avail the following coverage benefits with a personal accident insurance policy –

1. Accidental Death Cover

An accident can be both emotionally and financially devastating for the dependent family members. In case of fatal injuries, the entire sum assured is paid to the nominee as mentioned in the policy document.

2. Permanent/Total Disability Cover

In case an accident results in permanent disabilities or lifelong total impairment such as loss of both the limbs, then a specified sum insured amount is paid to the policyholder.

3. Permanent Partial Disability Cover

If bodily injuries, resulting in permanent partial disabilities, then a certain percentage (up to 100%) of the benefit is paid to the insured.

4. Temporary Total Disability

In case the insured meets with temporary total disabilities and is bedridden, then the insurer will provide a weekly allowance to recompense the loss of income. The insured can also utilize this claim amount to pay the EMIs, in case there is a loss of earnings.

Major Inclusions and Exclusions of Personal Accident Insurance Plan

Educating yourself about terms and conditions before you avail such a policy always works in your favour. So, here’s a quick rundown of the inclusions and exclusions:

Inclusions

Exclusions

Accidental death

Natural death

Permanent total/ partial disability

Pre-existing disability or injury

Accidental dismemberment

Childbirth or pregnancy

Medical expenses/ hospitalization charges

Suicide or self-injuries

Child education support

Non-allopathic treatments

Life support benefit

Influence of intoxicants

Burns, broken bones and Ambulance

Committing a criminal act or being involved in war activities, suffering from a mental disorder

Daily allowance

Participating in the naval, military, air force, adventurous or sports activities

Accidental dismemberment

Childbirth or pregnancy


Best Personal Accident Insurance Plans:

Insurance Companies

Personal Accident Insurance Plans

Age

Sum Assured

Policy Term

No Claim Bonus

HDFC Ergo General Insurance

Personal Accident Plan

18 - 65 years

2.5 Lakh - 15 Lakh

1 year

5% for each claim free year; limited to 50% of the initial sum assured

New India Assurance

Personal Accident Policy

5 - 70 years

N/A

1 year

5% for each claim free year; limited to 50% of the initial sum assured

Royal Sundaram General Insurance

Individual Personal Accident Policy (Death & Disablement Only)

18 - 65 years

5 - 75 Lakh

1 year

5% for each claim free year; limited to 25% of the initial sum assured

SBI General Insurance

Individual Personal Accident Insurance Policy

18 - 65 years

1 Lakh - 10 Lakh

1 year

5% for each claim free year; limited to 50% of the initial sum assured

Max Bupa Health Insurance

Personal Accident Health Insurance

18 - 65 years

5 Lakh - 25 Lakh

1 - 2 years

5% for each claim free year; limited to 25% of the initial sum assured

ICICI Lombard General Insurance

ICICI Lombard Personal Protect

18 - 80 years

3 Lakh - 25 Lakh

1 year/ 2 years/ 3 years

sum increased by 10 percent at renewal after each claim-free year; max up to 50 %

Why Choose Personal Accident Insurance?

A minor accident can indispose an individual temporarily, while major ones can have a severe impact on one’s life and their overall well-being. It has become imperative to buy a sound insurance plan to protect yourself against any such untoward perils. An accidental insurance policy is designed keeping to offer some relief to the injured person or a dependent.

Personal Accident Cover offers compensation in the event of demise, bodily injuries, impairment or mutilation resulting from an accident. Compensation is provided in case of an accident while travelling through rail, air, road, drowning, or due to a collision, bodily injuries, burn etc.

A personal accident insurance policy offers financial support to the policy-holder in case of accidental disabilities, irrespective of the intensity of the incident. Compensation is provided to the insured against accidental demise, impairment, and dismemberment because of an accident.

In case of unfortunate accidental death of the policyholder, the best personal accident insurance plans in India help the dependent members by providing them financial assistance. In case of impairment resulting from an accident, the policy-holder will also get compensation for the loss of income. It ensures peace of mind as it guards against the most unexpected events.

Other benefits include hospitalisation cover, hospital bill payment, compensation of ambulance cost etc.

Advantages of Personal Accident Insurance Policy

Imagine a situation, you are hit by a motor vehicle and are permanently disabled? There would be no monthly or annual earnings but bank EMIs, medical expenses, and other expenditure. To deal with such an emergency situation, it is advisable to get a personal accident cover. Here’s a quick rundown of some of the major advantages of buying a personal accident insurance policy:

  • Family security
  • No requirement of medical tests and documentation
  • Substantial coverage at a lower premium
  • Worldwide coverage
  • Both individual and family plans are available
  • The easy and certified claim process
  • 24x7 support service
  • Legal and funeral expenses are covered
  • Child education benefit
  • Double indemnity for demise/ impairment while traveling in public transport
  • Availability of customizable plans

Read More about Features and Advantage of Personal Accident Insurance

Why Should You Buy a Personal Accident Insurance Policy?

You can buy a personal accident insurance cover irrespective of your age, occupation, and health. In fact, you should buy this plan as soon as you start earning. It is more important for those who have taken loans or have to pay EMIs because this would offer protection towards repayment of the outstanding balance under any such situation. The premium of this policy will be decided on the basis of your occupation rather than age. You can pay the premium online and make sure it does not lapse. Generally, there are 3 categories under which occupational risks can be segmented-

Doctors, Machine operators, and Underground mines workers:

Class 1= Low-Risk

 Class 2= High-Risk

Class 3= Very High Risk

Accountants

Money carrying employees

Journalists

Lawyers

Builders

People working in explosive industries

Bankers

Contractors

Mountaineers

How much Accidental Insurance Coverage is enough?

As a thumb rule, it should be 100 times of your monthly income. For example, if your current earnings are Rs. 10,000 then you can buy a personal accident cover of Rs. 10, 00,000.

It will ensure that all the eventualities such as child education, loan repayment, marriage, and regular earnings for the spouse are taken care of, provided the policy is renewed timely.

How to File an Accidental Insurance Claim?

To initiate the claim process, you need to inform the insurance provider within the specified time frame. You might be provided with a claim reference number. The following information is required to be submitted to the provider while intimating a claim-

  • Your contact number
  • Policy number
  • Date and time of the accident
  • Name and contact details of the insured person who is injured
  • Location of the incident
  • A brief description of how the accident/ loss took place with its location details
  • Extent of the loss

It is essential that these details are known to the family members or dependents (including spouse) also as an unexpected event such as demise may put them in situations where they are unaware of what to do next.

In case of an Accidental death/ impairment claim, following documents are required to be submitted-

  • Death certificate
  • Post-mortem report
  • FIR report
  • Medical certificate
  • Medicine bills

As a necessary precaution, policyholders can ensure that these details are kept for future reference of the family members so that they are not left helpless or any advantage unclaimed in the event of an unexpected event leads to a coma or even demise.

Additional Benefits of Personal Accident Insurance Policy

In addition to the four primary benefits, there are various other benefits that come with a personal accident insurance policy. Some insurers may provide these benefits in the basic plan or you can buy them as an add-on cover by paying an extra premium:

  • Hospital Daily Cash: Daily cash allowance is paid to the insured in case of an accidental hospitalization. Coverage is limited to a certain number of days (as specified in the policy terms and conditions).
  • Ambulance Expenses: Compensation is provided for ambulance charges to carry the insured post-accident to the hospital.
  • Transportation or Repatriation of Mortal Remains: In case of accidental death of the policyholder, the nominee would receive the expense incurred on repatriation and transportation of the mortal remains from the site of the accident to the hospital, home or the cremation ground. Compensation is also provided for the expenses incurred on the religious ceremonies related to cremation.
  • Broken Bones: In case of fractured bones or any bone damage, a fixed compensation is payable under the policy.
  • Burns: Compensation is also provided for accidental burns.
  • Family Transportation Allowance: It is applicable when the hospital is too from the insured’s residence. In such instances, the actual transportation expenditure incurred by the immediate family members, to reach the insured person is also compensated. The total reimbursement payable is subjected to the amount specified in the policy.
  • Education Advantage: In case of an unexpected demise of the policyholder, the cost of education of the dependent child is covered up to a specified limit.
  • Loan Protector: In the event of unexpected demise or lifelong disabilities, a lump sum amount (specified in the policy schedule) is paid.
  • Adaptation Allowance (also known as Home Alteration and Vehicle Modification Benefit): Some insurers may offer this benefit. In case of permanent total disabilities or dismemberment due to an unfortunate event, money has to be spent to modify one’s house and/or vehicle is also covered.

Tax Benefits under a Personal Accident Policy

Section 80D of the Income Tax Act 1961 does not provide any tax benefit for the premium paid for personal accident insurance plans that offer protection against any physical disability, dismemberment or accidental demise. However, it is important to understand that the primary reason for buying any kind of insurance is protection and safety. Insurance decisions should never be driven by tax considerations.

How Can Accidental Insurance Help?

Just as you care about what would happen to your loved ones after your demise you should equally think how would they manage in case of permanent disability? Prepare yourself for the unexpected situations with the right coverage. We, at Policy Bazaar, offer a range of personal accident insurance plans from different companies that can be tailor-made as per the customer’s needs. Policy Bazaar additionally also offers assistance to buy the selected plan

A personal accident insurance policy offers coverage against accidental injuries and death. However, such plans won’t cover natural deaths and deaths resulting due to a disease.

 

Insurer Plan Name Hospitalization FamilyCover Ambulance PTD PPD Issuance
Max Bupa Health Insurance Health Assurance- Personal Accident Hospi-Cash provided covers upto 2 children Not covered covered upto 125% of Sum Assured covered from 25% to 100% of Sum Assured e-Policy
Bharti AXA General Insurance Personal Accident Superior Hospi-Cash of Rs 1000 per day for 30 L cover & upto 20% of Sum assured for 20 L and 30 L cover covers individually Not covered covered for 1.5 times of Sum Assured covered from 2% to 75% of the Sum Assured Instant e-Policy
HDFC ERGO General Insurance Individual Personal Accident (IPA) Hospi-Cash provided     covered upto 100% of Sum Assured   Instant e-Policy
Religare Secure 1 - Personal Accident Covered in Add-on Rider covers individually Not covered covered from 50% to 100% of the Sum Assured covered from 2% to 75% of the Sum Assured e-Policy
Secure 3 - Personal Accident Covered in Add-on Rider covers individually Not covered covered from 50% to 100% of the Sum Assured covered from 2% to 75% of the Sum Assured e-Policy
Apollo Munich Health Insurance Company Ltd. IPA-Standard Not Covered   Rs. 2000 covered from 50% to 100% of the Sum Assured covered from 2% to 75% of the Sum Assured e-Policy
border-left: none>IPA-Premium Not Covered   Rs. 2000 covered from 50% to 100% of the Sum Assured covered from 2% to 75% of the Sum Assured e-Policy
The New India Assurance Co. Ltd. E_Personal Accident Hospi-Cash of Rs.200 per day for 50 days Covers individually Not covered upto 100% of Sum Assured upto 50% of the Sum Assured e-Policy
Liberty Videocon General Insurance Co. Ltd Group Personal Accident Hospi-Cash of Rs.500 per day for 30 days Covers individually Not covered upto 100% of Sum Assured covered from 2% to 70% of the Sum Assured e-Policy

What is covered by Personal Accident Insurance?

Ans:
    1. Accidental Demise: payable to nominee, in case the policyholder dies in an accident
    2. Permanent/partial disability: the loss of income, in case of permanent/partial accidental disability
    3. Dismemberment: provider considers the loss of income, in case of dismemberment (loss of limb)

Medical Expenses: provider bears medicinal expenses incurred for treatment of injuries to the policyholder

What is not covered by Personal Accident Insurance?

Ans:

One must keep in mind the exclusions of this policy while following points are generally not included:

  1. Any pre-existing injury or disability
  2. Use of alternate medical treatments (e. Unani, Ayurvedic, Homeopathic etc)
  3. Any self-harming acts (e. Suicide or purposeful overdose)
  4. Accidents resulting from drunk driving or use of other intoxicating substances
  5. Injuries/death from illegal activities
  6. Injuries/death due to involvement in a war
  7. Injuries/death due to mental disorder
  8. During pregnancy/childbirth

What are the benefits of buying Personal Accident Insurance?

Ans:
    1. High Coverage: considerable inclusion for the policyholder
    2. No Medical Check-up Required: buying this insurance requires no medical examination
    3. Children Education Benefit: coverage is provided for children education after unexpected demise/disability resulting in lost income
    4. Lifestyle Support: financial support to the family, in case of unexpected demise/disability resulting in loss of income
    5. Death/Disability Coverage: for demise/disability due to an accident caused by public transport
    6. Coverage for Increasing Healthcare Cost: keeping an eye on increasing healthcare cost, including medical medication against inflation
    7. Group Insurance Benefit: discounted premium prices for group insurance

Plan Flexibility: coverage is offered for single and family

Do I need Person Accident Insurance?

Ans:

Life is full of risks when you are traveling to your destination. A mishap may result in several outcomes, viz. partial/permanent disability, or even demise. This insurance is recommended for anyone who travels too much not just for life support, but for financial support as well, especially in case of lost income.

Why Choose PolicyBazaar for Personal Accident Insurance?

Ans:
  1. Expert Guidance or Advice: Policybazaar advises you on which health insurance policy to choose out of a wide spectrum. Our health experts offer you unbiased opinions to our customers wherever and whenever they experience a need for guidance, helping them opt for the best-fit policy.
  2. Thorough Assistance: Our job is not just to offer you the best-fit plan, but assist you throughout, i.e. respond to your queries, provide you details of the plans offered by different providers, and any post-sale assistance on call.
  3. Quick Wrap-up/Minimum Paperwork: Policybazaar helps you quickly wrap-up your policy purchase and delivers the policy document to your inbox within a very short time, making it accessible to you on the go.

What does it cover?

Ans:

This policy makes you feel free as it covers you against demise or damage caused by any unfortunate event for example accident, explosion, and terrorist attack. This insurance policy provides the full inclusion for expenditure in lieu of the medication of injuries due to any unfortunate event. It also includes the lost regular earnings due to an accident. The nominee receives the advantage in some of the cases given below:

  1. When the policyholder dies in an accident.
  2. If the policyholder is injured and becomes disabled the policy ensures the policyholder with the loss of income and also take care of regular treatment expenditure.
  3. Wounds or damage caused by the terrorist attack is also included in this policy.

If the policyholder loses any of his body parts, he or she is eligible to get a claim under dismemberment.

Why You Should Buy Personal Accident Insurance?

Ans:

Life is uncertain and it needs certain measures that can make you feel safe and secure at every point of life whether you are going on vacation or enjoying a long drive with your loved ones. Don’t worry about the financial need when you are not able to earn due to any wounds or impairment, because it includes all expenditure related to medication of policyholder and also provide financial aid if the person is not able to work for the time or lifetime due to its permanent or partial impairment respectively. It also helps to provide family security at the lowest premium with easy and quick claim process. These plans are highly customized which can be altered according to your need.

When can you Claim for the Benefits after Buying the Policy?

Ans:

You can claim the benefits of policy whenever you need it. There is no fixed time period to claim the advantage the policy-holder can claim for the benefits whenever he meets any unfortunate event like the accident.

How are Personal Accident policies different from personal guard?

Ans:

A personal guard insurance plan is the personal accident policy which covers up to the highest compensation of 125% of the total insured under the policy benefits. There is no extra premium charged for this advantage.

What are the documents needed for a claim?

Ans:

Read below to know the mandatory documents required for claiming the advantages of the policy:

a.) Temporary total disablement

  1. Claim form
  2. Medical certificate from the doctor
  3. Leave approval from the employer
  4. Discharge summary

b.) PTD & PPD

  1. Claim form
  2. Medical tests
  3. Certificate of disability from the doctor

c.) Death Claim

  1. FIR, post-mortem report
  2. Death certificate

d.) Medical Expenses

  1. Hospitalization bills
  2. Discharge summary
  3. Medicine prescription

What is the Eligibility of Personal Accident Insurance?

Ans:

Child above the age of 5 years and adult up to 65 years is eligible for this insurance plan. He or she is covered for Rs1/ basic and Rs1/-Lac wider, whereas if the person is below 65 years he or she can be included in the highest SI of Rs 1 Lac.

Personal Accident Insurance Reviews
TOTAL REVIEWS (1)
Kunal
Jaipur
May 13, 2016
Wonderful Policy

I purchase raheja qbe personal accident insurance plan. The policy coverage is high and the claims are even better. Claiming is fast due to fast service facilitate by the executives and the staff members. The ambulance is also included and without of cost. I like my Policy plan.

What our clients say

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