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All You Need to Know About Personal Accident Insurance Coverage

01 November, 2018

Life is uncertain. What if you meet with an accident while coming home? Scary isn’t it? Accidents can change a family’s future. But, if you have an accident insurance, you are covered. It’s a much-needed insurance coverage especially designed to protect you against any damage caused by an accident. In fact, it is different from other insurance policies. For example, a person meets with an accident that causes disability and he/she is not able to work for a longer period of time. Over here, life insurance will not help since the person is alive, whereas health insurance will only address the hospital bills. Thus, it is the personal accident insurance that will cover you from disablement and accidental death. It is necessary to have a personal accident insurance as it covers the policyholder against permanent disability or accidental death.


Features of Individual Personal Accident Insurance :


  1. Cover for permanent total disability: In case of the permanent disability of the insured caused due to an accident, the entire sum assured is paid to the person.
  2. Cover for death: The sum assured will be paid to the nominee, in case of the sudden demise of the insured due to an accident.
  3. Cover for permanent partial disability: In case of permanent partial disability of the insured due to an accident, a certain percentage of up to 100% of the sum assured is paid to the person, depending upon the extent of disability.
  4. Cover for accident hospitalization: Benefit cover for hospitalization expenses occurred due to accidents resulting in claim for disablement/death.
  5. Temporary total disablement coverage: In case of temporary total disablement coverage, it offers weekly benefits for accidents resulting in home confinement up to 104 weeks(As per schedule).
  6. Cover for transportation of mortal remains: In case of an accidental death, the sum of up to Rs 5000 (As per schedule) will be paid to the nominee for the transportation of mortal remains to the country of residence.


How to make a claim under personal accident insurance?


Here’s a step-by-step guide on how to make a claim under personal accident insurance:


  • File a claim form : To request for a claim form, you need to make a call on a number given by the insurance company for claim related issues. Also, you can send an email to the insurance company at the earliest. They will mail you the claim form within 2 working days. Also, you can download the claim form from their website.
  • Submit the claim form: You can submit the claim form and requisite documents on the insurance company’s address. If your claim is valid, you will receive a cheque through mail.