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Personal Accident Insurance Simplified
Personal Accident Insurance refers to an insurance which offers compensation in case of death, bodily injuries, total/ partial disability or mutilation resulting from an accident caused by violent, visible and external means. The types of events that are covered under accidental insurance are rail, road and air accident, injury due to collision or fall, burn injury and drowning etc. Personal accident insurance can protect your family and yourself from the financial concerns such as loss of income and medical expenses that unforeseen accidents lead to.
What are the coverages in a personal accident insurance plan?
- Accidental Death
It indicates death of the policyholder in an accident. The Sum Assured under this plan is payable if death occurs from an accident. However, the death needs to occur within specified timelines of the accident for the claim to be payable, usually taken as 15 days. In that case, if death occurs after 15 days of the accident, then the claim may not be payable as the reason for death could be any other than accident also
- Accidental Disability
It indicates that the policyholder is disabled from work, either partially or wholly. Again, the claim would be payable if the policyholder has been disabled from work for a period more than 180 days. In that case, if the policyholder is physically disabled, either partially or wholly,but he is able to work, then the claim may not be payable
- Accidental Dismemberment
It indicates that a part of the policyholder's body has been severed or dismembered. It means, if the policyholder loses his hand or leg or eyes, then he would be eligible to get a claim under Accidental Dismemberment. There are certain norms for the payment of the Sum Assured. For example, if one hand or one leg is severed from the body, then 50% of the Sum Assured is payable to the policyholder. However, if both hands and one leg is severed, 150% is not payable but the entire Sum Assured would be payable as a claim.
You will be provided coverage against the expenses incurred during hospitalisation due to an accident. You may also receive a daily cash allowance for the duration of hospitalisation
Advantage of buying personal accident insurance
- No requirement of medical tests and documentation
- Substantial cover for lower premium
- Worldwide coverage
- Can be bought by individual or by family
- Easy and certified claim process
- 24x7 support service
- Legal and Funeral expenses
- Child education benefit
- Double indemnity for death/ disability while traveling in public transport
So Compare and buy the best personal accident insurance plan online now in less than 15 minutes from Bimadirect.com. Abiding by our belief in consumer empowerment, we have partnered with all major General Insurance companies in India to bring their products on a single platform enabling comparison and informed decision making.