Personal Accident Insurance

Personal Accident Insurance

What is Personal Accident Insurance?
Personal Accident Insurance provides financial coverage against unforeseen events, such as, accidents causing physical injury, permanent partial disability or permanent disability as well as accidental death.

Why do you need Personal Accident Insurance?
Reports suggest that more than 1200 accidents occur in India every day.

Accidents happen without any warning signs and sometimes can leave you with serious harm, impacting your finances or even affecting your potential to earn. To battle such unfortunate situations, it is imperative to be insured for accidents.

From covering your hospital expenses to securing your family, a personal accident insurance policy aids you with the finance needed in the event of an accident.

What does Personal Accident Insurance cover?

• Disability: Any kind of disability whether temporary or permanent, is covered.
• Hospitalisation expenses: The policy takes care of hospitalization expenses and medical treatment costs.
• Home alteration and vehicle modification benefit: Compensates expenses of suitable vehicle modification as per your requirements due to disability. Similarly, you may need modifications in your home as well, such as, setting up ramps. Your insurance policy will provide such facilities too.
• Death: In case of the demise of the policyholder, the policy disburses compensation to the family.
• Family transportation: Covers expenses incurred in reaching the accident spot or hospital.

What are the types of Personal Accident Insurance Policies?

• Individual: An individual personal accident policy offers financial protection and provides lump sum compensation in case you suffer from a fatal accident or an accident that leaves you permanently disabled.
• Family: Any individual can take this policy for protecting his/her family. It covers the individual (self), spouse (wife), parents and children. Spouse and children are entitled a limited cover as per the policy.
• Group: It can be availed by a group of employees of an organization and their dependents, members of clubs, societies and associations, etc.