- Safety form unforeseen events
- Benefits of personal accident insurance
- Inclusions & Exclusions
Personal Accident Insurance: An Introduction
Medical emergencies such as road accidents are uninvited. As per the report published by the Ministry of Road Transport and Highways in 2022, the states and union territories reported a total of 4,61,312 road accidents. Out of which 1,68,491 lives were claimed.
Unfortunately, accidents not only affect your health but might affect your overall capability to work. Personal accident insurance is designed to protect you and your family from such fatalities.
What Is Personal Accident Insurance?
Personal accident insurance offers comprehensive health coverage against accidental death, injuries, and disabilities both partial and permanent. In case the insured policyholder passes away due to an accidental death the sum insured is provided to the nominee.
Now that we have understood what accidental cover policy is, let us further understand the inclusions of the same.
Best Personal Accident Insurance Plan
We have rounded up some of our top personal accident insurance picks for you and your family. Scroll further to take a look
Inclusions Of Personal Accident Insurance
On investing in the best personal accident insurance you are entitled to the inclusions and exclusions mentioned below:
| Inclusions | What Does It Mean? |
| Accidental Death | In case of an accidental death, the legal nominee is entitled to receive 100% sum insured |
| Permanent Partial Disability | In case of partial disability due to accidents, a fixed percentage of the sum insured is provided to the insured individual |
| Permanent Total Disability | In case of permanent disability due to accidents, a fixed percentage of the sum insured is provided to the insured individual |
| Temporary Total Disability | In case of an accident, the insured individual is disabled and bedridden partially, the insurance plan offers a weekly allowance as compensation for the loss of income |
| In-patient hospitalisation | Expenses including room rent charges, ICU charges, doctor fees, etc are all covered under the accidental cover policy |
| Education Support for Dependent Children | Personal accident policy also offers education support for dependent children of insured individuals in case of accidental death or disability. |
| Emergency Ambulance | Personal accident insurance covers expenses for emergency road ambulance in case of road accidents |
| Funeral Expenses | The nominee of the insured individual will receive a specific amount to cover funeral expenses |
Best Personal Accident Insurance Plan
We have rounded up some of our top personal accident insurance picks for you and your family. Scroll further to take a look
| Health Insurance Company | Personal Accident Insurance |
| Star Health | Star Accident Care Individual Insurance Policy |
| Care Health | Care Secure Personal Accident Insurance |
| Niva Bupa | Niva Bupa Personal Accident Insurance Plan |
| Aditya Birla | Activ Secure Personal Accident |
| HDFC Ergo | Personal Accident Insurance |
| SBI Health | Individual Personal Accident Insurance |
| Niva Bupa | Personal Accident Care |
| Aditya Birla | Activ Secure Personal Accident Policy |
| ICICI Lombard | Personal Protect Policy |
| TATA AIG | Accident Guard Policy |
Types Of Personal Accident Insurance Plans
Personal accident insurance can be divided into 2 different categories namely,
-
Group Personal Accident Insurance
Provided to employees by their health insurance employers offering them basic coverage for accidental death, injuries, and disablement. The coverage is limited and does not offer a wide range of benefits. -
Individual Personal Accident Insurance
Typically protects an individual from accidental injuries, death, and disabilities. Provides a high range of sum insured as compared to a group personal accident insurance. The plans designed for individuals are capable of covering short-term and long-term disabilities along with accidental death.
Personal Accident Insurance Benefits
Thinking about investing in a personal accident insurance policy? Read further to understand personal accident insurance benefits that you can avail of:
-
No Pre Policy Medical Check-Up Required
You are not required to undergo a pre-policy medical check-up when purchasing personal accident insurance. -
Peace Of Mind
When investing in an accident insurance policy you are assuring the health of your family members for any future fatalities offering you peace of mind. -
Quick Claim Settlement
When involved in an unfortunate accident the last thing anyone wants to experience is the lack of assistance from insurers. Investing in personal accident insurance promises a quick claim settlement providing a hassle-free experience to insured individuals in trying times. -
24/7 Customer Support
Personal accident insurance offers you 24/7 customer support making sure to answer all your queries as well as assist you during hospitalisation claims. -
International Coverage
Most health insurance plans have geographical limitations. However, personal accident insurance offers coverage for accidental injuries, and disablements out of the country. International coverage is available in many accident insurance policies, you just have to ask your insurer for the same.
Why Choose Personal Accident Cover?
As we know, an accident can happen at any time. It can happen at your workplace, while traveling, etc. So, the personal accident insurance plan becomes essential for every individual. Having a Personal Accident Insurance policy ensures financial security to you and your dependents in the event of unforeseen accidents. It covers ambulance and medical service costs, hospitalization due to any type of accident, burns, cuts, fractured bones, loss of limbs, or loss of vision, etc.
Personal Accident Cover is the best solution to safeguard yourself from any unfortunate incidents and medical emergencies which in turn may break your bank and drain you from all your life savings. Personal Accident Cover is an individual’s solution against unfortunate events such as accidental death, Accidental injuries that may leave you partially or completely paralyzed, and treatments for disabilities due to any accidents. Personal Accident Cover provides a lump sum amount as per the selected policy to the nominee of the insurance holder in case of accidental death and other benefits and covers in case of scenarios such as loss of limbs, loss of eyesight, permanent or partial disability, etc.
Additional Benefits of Personal Accident Health Insurance
While most health insurance companies give the above-mentioned benefits as part of a personal accident plan, insurers may also provide the following additional benefits:
-
Funeral Expense:
If the insured person dies in an accident then the insurance company will reimburse the funeral expense to the insured family. -
Temporary Total Disability:
A certain benefit amount is to be paid to the insured person if he/she suffers a total disability for a temporary time. -
Child Education Benefit:
If the insured person passes away or is disabled permanently, then the fixed amount will be paid regularly to the insured family for his/her child’s education. -
Accident Hospitalization:
If the insured is hospitalized due to an accident then the insurance company will cover all the hospitalization expenses of the insured person.
Factors Affecting Personal Accident Insurance premiums?
Personal Accident premiums are calculated based on a variety of criteria, including:
- Age
- Nature of your occupation
- Income
- The number of additional members (like parents, spouses, or children)
- Geographical location
- Sum insured amount
Documents Required to Buy Personal Accident Insurance
Insurance providers may require a specified set of documentation when purchasing a health insurance plan. To purchase a Personal Accident Health Insurance policy, you need the following documents:
- ID proof
- Address proof
- Details of known pre-existing diseases
- Photographs
- Medical records
- Application form
General Categorization of Risk Levels for Different Types of Occupations
We have categorized some occupations into three types based on the risk level in general:
| Category | Risk Level | Coverage |
| SET 1 | Low Risk | Managers Accountants Doctors Architects Teachers Lawyers Office workers |
| SET 2 | Medium Risk | Manual laborers Machine operators Mechanics Drivers of heavy vehicles Cash carrying employees Builders and contractors Veterinary doctors |
| SET 3 | High Risk | Mineworkers Jockeys Circus performers Dangerous sport persons like river rafting, etc. Mountaineers, etc. |
What is Not Covered in Personal Accident Insurance?
A personal accident plan comes with some exclusions. Exclusion can vary from insurer to insurer. A general list of exclusions is given below:
- Suicide
- Natural Death
- Self Injury
- Injuries from War
- HIV/AIDS
- Injuries occured due to consumption of alcohol or drugs
Always read the policy terms and conditions attentively if you decide to buy personal accident insurance for your protection. This will help you understand the inclusions and exclusions properly.
How to Claim Personal Accident Insurance?
To intimate the claim, the following details are to be provided to the Company:
- Policy Number
- Name and contact detail of the policyholder
- Location of the accident
- Brief description about the incident
- Name and address of the attending Medical Practitioner and Hospital
- Date of accident
In case of a death or disability claim, following are the documents required to be submitted:
- Death claim (in case of death)
- Disability certificate (in case of disability)
- Post-mortem report (in case of death)
- FIR report
- Medical certificate
- Original bills
- Original duly completed and signed caim form
The Final Verdict: Is Personal Accident Insurance Important?
A minor accident can cause major health ailments or result in untimely death. A personal accident add-on cover with your base health cover has its limitations such as sum insured capping, treatment capping, and disability cover limits.
However, with a dedicated personal accident insurance plan you will be able to protect yourself and your family against various fatalities. The plan includes education cover for dependent children, along with funeral expenses. A lump sum amount is provided to the nominee in case of accidental demise of the insured individual. However, with a dedicated personal accident insurance plan you will be able to protect yourself and your family against various fatalities. The plan includes education cover for dependent children, along with funeral expenses. A lump sum amount is provided to the nominee in case of accidental demise of the insured individual.
To find out more about the ideal personal accident health insurance connect with our insurance experts.
Health Insurer Network Hospitals
Personal Accident Insurance: FAQs
1. What is personal accident insurance?
Personal accident insurance offers comprehensive health coverage against accidental death, injuries, and disabilities both partial and permanent. In case the insured individual passes away due to accidental death the nominee receives 100% sum insured.
2. Are you eligible for a tax benefit under section 80D on personal accident insurance?
Yes, on investing in an accident insurance policy, you are eligible for tax benefits under section 80D of the Income Tax Act.
3. What are the eligibility criteria for investing in personal accident insurance?
Individuals or family members between the ages of 18 to 65 years are eligible for personal accident insurance. However, the entry age eligibility may vary from plan to plan.
4. What is covered under personal accident insurance?
The inclusions under personal accident insurance are Accidental Death Permanent Total Disability Permanent Partial Disability Temporary Disability In-patient hospitalisation expenses Funeral expenses Road ambulance Education Cover for dependent children
5. What is not covered under personal accident insurance?
Personal accident insurance does not cover self-inflicted injuries or death due to suicide.
6. How much Accidental Insurance Coverage is enough?
There are multiple personal accident cover policies with a range of sum insured available starting from 1 lakh to 1 crore. The ideal way to decipher the amount of sum insured required by you and your family must be based on factors such as lifestyle expenses, child education needs, loans and liabilities if any, and other important factors. It is advisable to select a sum insured that is 100-120 times your annual income in order to safeguard the future of your family through a personal accident cover.
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Written By: Simran Kaur Vij
Simran is an insurance expert with more than 4 years of experience in the industry. An expert with previous experience in BFSI, Ed-tech, and insurance, she proactively helps her readers stay on par with all the latest Insurance industry developments.
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