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.

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    Reasons to Buy Personal Accident InsuranceAn 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:

    • 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:

    • 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.

    • 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 –

    • 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.

    • 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.

    • 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.

    • 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:



    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:


    Personal Accident Plans

    Age (in years)

    Policy Term

    Coverage Amount ( in Rs)

    No Claim Bonus

    Aditya Birla Capital

    Activ Assure Personal Accident Plan

    5-65 years


    up to 12 times of annual gross income for an earning member


    Bajaj Allianz Insurance

    Bajaj Allianz Personal GuardPlan



    10-25 lakhs

    Up to 50 %

    Bharti AXA Insurance

    Bharti AXA Smart Individual Plan

    18-70 years


    Accidental Death Benefit: 2 lakh to 20 lakhs ( as per the plan variant)

    Permanent Total Disability: 3 lakh to 30 lakhs ( as per the plan variant) 


    Cholamandalam Insurance

    Chola Accident Protection

    18-69 years


    Family:2.5-10 lakhs

    Individual: 5 lakhs to 1 Crore 


    Future Generali Insurance

    Personal Accident Plan  

    18-70 years


    up to 144 times of annual income


    IFFCO Tokio Insurance

    Personal Accident Policy

    5-70 years

    1 year

    100% of sum assured

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

    Kotak General Insurance

    Kotak Accident Care  

    5-65 years

    1,2,3 years



    Liberty General Insurance

    Individual Personal Accident Policy  

    18 - 70 years

    1,2,3 years

    1 lakh - 1 Crore


    Max Bupa Health Insurance

    Personal Accident Health Insurance

    18 - 65 years

    1 - 2 years

    5-25 lakhs

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

    Manipal Cigna Health Insurance

    Protection Accident-Care  

    18 - 80 years

    1,2,3 years

    50,000- 10 Crore


    National Insurance

    Personal Accident Plan

    5 - 70 years

    1 year

    72 months gross pay or Rs.10 lakh whichever is less.

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

    New India Assurance

    Personal Accident Policy 

    5 - 70 years

    1 year


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

    Oriental Insurance

    Janata Personal Accident Policy 

    10 - 80 years

    1 year

    25000-5 lakhs


    Religare Insurance

    Secure Personal Accident Insurance Plan

    18 years to 70 years


    15 lakhs- 25 Crores


    Raheja QBE Insurance

    Individual Personal Accident Insurance Policy 

    As per policy document


    As per policy document

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

    Royal Sundaram

    Individual Personal Accident Policy (Death & Disablement Only)

    18 - 65 years

    1 year

    5 - 75 Lakh

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

    Reliance Insurance

    Personal Accident Group Insurance Policy

    5-70 years


    100% of sum insured incase of permanent total disability


    Star Health Insurance

    Accident Care Individual Insurance Policy

    18 - 70 years

    1,2,3 years

    5 -15 lakhs

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

    SBI General Insurance

    Individual Personal Accident Plan

    18 - 65 years

    1 year

    1 - 10 lakhs

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

    TATA AIG General Insurance

    Personal Accident Gaurd Plan

    18 - 65 years

    1 year with lifetime renewal

    5 lakhs- 1 Crore

    5% for each claim free year

    United India Insurance 

    Individual Personal Accident Plan 

    5-70 years

    1 year

    25000-10 lakhs

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

    Universal Sompo Insurance

    Individual Personal Accident Policy

    5 - 65 years

    1 year



    See More Plans

    Disclaimer : *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

    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


    Money carrying employees




    People working in explosive industries




    Difference between Accidental Insurance & Life Insurance

    An accident insurance policy covers loss of life or disabilities resulting due to accidental damage. But a life insurance policy covers the death of a policyholder irrespective of the cause of death. The major differences between accidental insurance and life insurance policies are listed below:

    Death Cover: A life insurance policy offers financial benefits irrespective of the reason of death apart from suicidal attempts. An accidental insurance policy will offer compensation in case of accidental death of the policyholder.

    Death Coverage Condition: Life insurance policy offers death cover even if the insured dies months or years after the illness. Whereas, an accidental insurance policy offers death cover even if the insured dies instantly or within the specific time frame after the accident. Usually, it is 180 days from the accident.

    Plan Options: There are various plan options in a life insurance policy retirement solutions, death cover, long and short term financial investment goals, etc. But an accidental insurance policy covers loss or damage resulting due to an accident.

    Partial Disability Cover: If an accidental injury results into partial loss or limb or sight then it will be covered by an accident insurance policy. Whereas, partial disabilities are not covered under a life insurance policy.

    Life Insurance Policy VS Accidental Insurance Policy Comparison Table


    Accidental Death Insurance

    Life Insurance

    Death from illness or disease



    Accidental Death



    Death from drug overdose



    Partial disabilities



    Difference between Accidental Insurance and Critical Illness Insurance

    A critical illness policy pays off in lump sum to the policyholder to carry out the medical treatment. There is a survival period clause to avail the benefits. But an accidental insurance policy would cover partial or total disabilities or accidental death.


    Accidental Insurance    

     Critical Illness Insurance


    Compensation is only provided for accidental damages

    Covers critical illnesses like kidney failure, cancer, paralysis, etc.


    Cashless or reimbursement claims are allowed   

    Compensation is provided in a lump sum amount. In some cases, hospitalization is not required and compensation can be provided on the basis of the diagnosis reports.


    It does not cover diseases or illnesses

    It covers specified critical illnesses like cancer, tuberculosis, etc.

    Waiting Period   

     No waiting period   

    up to 3 months

    Medical Check-up

    No Required


    Difference between Personal Accident Insurance and Term Insurance

    A term insurance policy covers the death of the policyholder due to natural reasons or accidental causes. But a personal accident insurance policy would only offer coverage for death and disabilities caused by an accident. It would not cover claims arising due to natural deaths.

    The cost of the premium for a personal accident insurance policy is determined on the basis of the occupation of the policyholder.

    How Much Does Accident Insurance Cost?

    The premium varies based on the plan that you have opted and also your age, occupation and in some cases medical history. However, it is recommended that you opt for the sum insured amount that is 100 times more than your monthly income.

    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.

    *Tax benefit is subject to changes in tax laws

    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.

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