Everything You Need to Know About Personal Accident Policy

Personal accident policy is a medical insurance  policy issued to cover the risk of death, permanent disability, partial disability or temporary disability in case of accidents. The insured sum is reimbursed to the policyholder in case of disablement or the family members in case of death.

Key Features of Personal Accident Policy:

1. Hospital confinement allowance
2. Covers medical expenses due to accidental injury
3. Additional bonus of 5% to 25% for each claim free year
4. Quick claim settlement

Benefits of Personal Accident Policy:

Besides above-mentioned features, there are several other benefits of availing personal accident insurance .

1. Compensation for Children's education in case of death or permanent total disability of policyholder is also covered.
2. Ambulance assistance is also provided.
3. Ensures total security and peace of mind.
4. Insurers pay for carrying out last rites of the policy holder in case of death caused by accident.
5. The needs of complete family are taken care of with this policy in case of accident.

Inclusions & Exclusions Coverage for Personal Accidents

Inclusions

Personal accident policy covers Death, Permanent Total Disability, Permanent Partial Disability & Temporary Total Disability. People below the age of 65 years can take benefit of the policy. The policy is issued for a period of 1 year and can be renewed or discontinued thereafter. The personal accident cover is restricted to citizens of particular countries; thus it is advisable to know the details of the policy before making the purchase. Nowadays many insurance companies also cover Death or disablement due to terrorist attacks.

Exclusions

Death or disablement due to suicide or attempt to suicide, during childbirth, wars and due to intoxication is not covered by personal accident insurance policy.

Process of Claiming Coverage for Personal Accidents

1. Inform the insurance company immediately about the accident and type of injury.
2. Submit the complete health insurance claim form with original bills and other supporting documents.
3. The claims team will assess the claim for completeness of documentation and admissibility.
4. In case the claim is found to be genuine, payment is made according to the clauses mentioned in the insurance policy document.

Time Period

Claims are processed within seven working days from the date of fulfilling all the requirements. You may also be interested in personal health insurance.   *Standard T&C Apply Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.