Personal Accident Insurance – Top Plans, Benefits and Claim Process
Accidents are unpredictable. They can happen anywhere, anytime, leading to minor or serious injuries and even death. A personal accident insurance policy is recommended to deal with the financial crisis that may follow such accidents.
Personal accidental insurance provides financial coverage to the policyholders to cover treatment expenses for accidental injuries, disabilities, or death resulting from an accident. The following sections come with a list of some of the best personal accident insurance cover you can find in the market today.
Top Personal Accidental Insurance Plans
You can find numerous insurance companies offering accident insurance cover in the market. Here are some of the leading policy providers that you can consider while buying an accident insurance plan:
Navi offers personal accident cover, which comes with a maximum sum insured of Rs. 15 lakhs. This plan covers expenses related to hospitalization, accidental permanent total or partial disability, serious injuries, and death. You can also obtain a group personal accident insurance cover from Navi.
Download the Navi app to learn more about personal accidental insurance plans from Navi. Navi is a leading insurance provider specializing in providing an entirely paperless and hassle-free insurance process with over 10,000+ network hospitals in over 400+ locations.
2. Aditya Birla Personal Activ Secure- Personal Accident
The personal accident insurance policy from Aditya Birla comes with various benefits at reasonable prices. This accident cover comes with a policy tenure of 1, 2, or 3 years. It includes coverage to modify or repair the damaged vehicle or residence. You can be eligible for a 5% cumulative bonus with every claim-free year. Moreover, one can get a personal coach to help in the recovery process.
3. Max Bupa Personal Accident Insurance Plan
Max Bupa provides a personal accidental insurance policy that covers accidental disability, death, children’s education, and funeral expenses. It comes with a minimum sum insured of Rs. 5 lakh and a maximum of Rs. 25 lakh.
4. HDFC Ergo Personal Accident Insurance Plan
Under this accidental insurance cover, you can expect financial coverage against expenses for disability, broken bones, accidental death, burns, hospital expenses, ambulance cost, and more. This policy offers a sum insured that ranges between Rs. 2.5 lakh and Rs. 15 lakh.
Benefits of Having a Personal Accidental Insurance Policy
An accident can lead to major financial uncertainties both for you and your loved ones. With an accidental insurance policy, you can tackle the financial crisis in various ways. Here are some of the key benefits that you can enjoy with an accidental cover:
- Personal accidental insurance plans provide substantial coverage with a low premium.
- You can get financial coverage for permanent total or partial disability, ambulance charges, hospitalization charges, funeral charges, legal expenses, child support expenses, and more.
- An accidental insurance policy provides double indemnity for death or impairment while traveling on public transport.
- These policies do not usually require any documentation or pre-policy medical inspections.
- An accidental insurance policy provides overall security for the family of the insured individual.
What are the Exclusions in a Personal Accidental Cover?
It is always important to learn about the terms and conditions of a policy carefully before purchasing it. Similar to other policies, a personal accident insurance cover comes with certain limitations. You should be aware of these limitations to ensure smooth and hassle-free claim settlement. Personal accident insurance comes with the following exclusions:
- Pre-existing disability or injury
- Self-inflicted injuries or suicide
- Taking part in any adventurous or dangerous sports activity
- Childbirth
- Death due to natural causes
Key Points to Consider While Buying a Personal Accident Cover
If you are planning to buy personal accident insurance, make sure to compare across various policy providers using the following key pointers:
1. Sum insured
Usually, most personal accident covers provide a minimum sum insured of Rs. 2 lakh and a maximum of Rs. 1 crore. It is always preferable to opt for a policy that comes with a higher cap for the sum insured.
2. Disability factors
Accident insurance policies include various plans for total or partial disability, burns, broken limbs, and more. It is advisable to opt for a plan that comes with a maximum scope of coverage.
3. Age limits
Age limit is one of the key factors to check before buying an accidental insurance plan. Most policies come with maximum ages of entry. You should look for policies that offer an extensive range of entry ages.
4. Bonuses
There are some personal accident insurance policies that offer bonuses to children of the insured individuals in the event of an accident. Such provisions are particularly helpful in case the treatment is lengthy or if the insured person passes away.
Also read: Features & Benefits Of Different Types Of Health Insurance Policies
How to File a Claim for Accidental Insurance?
If you want to begin the claim process, you have to inform the policy provider within a stipulated time frame. You might have to submit the following information during the process:
- Policy number
- Contact number
- Date and time of the accident
- Contact details of the policyholder who is injured
- Location of the accident
- A brief explanation of how the accident took place
Final Word
With an accidental insurance policy cover, you can easily manage the expenses arising from an accident while providing financial security to your family. Your accidental cover will also take care of your children’s education and loan repayment.
However, make sure to assess all the features and benefits offered by a personal accident insurance cover to find the most suitable plan.
FAQs
Ans: You will require the following documents to raise an accidental death claim:
• Death certificate
• FIR report
• Post-mortem report
• Medicine bills
• Medical certificate
Ans: Usually, your accidental insurance cover should ideally be 100 times your monthly income. That means if your current monthly earning is Rs. 20,000 you need to buy a personal accident cover of Rs. 20 lakhs.
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Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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