Personal Accident Insurance Cover Plan
A personal accident insurance policy provides protection against death, permanent total or partial disability, and temporary disability in case of an accident. When you compare retail and life insurance products, personal accident plans stand out as essential standalone covers. In case of death or permanent disability, the insurer pays a sum insured, and the policy terminates thereafter. While in the case of partial disability, only a percentage of the sum insured is paid depending on the severity of disablement, whereas a weekly compensation is provided in case of temporary total disability. The personal accident insurance policy is renewable if the accident results in permanent partial disability or temporary total disability.
The personal accident insurance policy can be seen as an income protection plan where your profession and income determine your maximum cover and premium rates. Generally, you can get a maximum cover that is 10 times your annual income, and the premium rates usually depend on your profession.
Why Choose Personal Accident Policy?
Types of Personal Accident Cover
Benefits of Buying Personal Accident Insurance
Personal accident insurance is a useful policy to get financial assistance for yourself and your family in the event of an accident. Much like securing the best health insurance plans or family health insurance plans, having a dedicated personal accident cover ensures complete peace of mind. This policy provides comprehensive coverage for
accidental death or disabilities. Here are some of the benefits[1] provided under this policy
Dismemberment Cover Most personal accident insurance policies offer the benefit pay-outs for the dismemberment of any kind occurring due to an accident. The insurers have pre-determined percentages and ratios in which the benefit is paid to the policyholder.
Coverage for BurnsThis is an optional extra coverage under the personal accident insurance policy. and this additional insurance covers the possible dismemberment or death due to burns. The cost of treatment is reimbursed to the insured after hospitalization.
Exclusions Under Personal Accident Policies
