Personal Accident Insurance

Personal Accident Insurance

Premium rates

What are the premium rates for the personal accident insurance?

Our Premium Personal Guard provides comprehensive coverage against accidental injuries with competitive premium rates, which are mentioned in the table below:

What is Personal Accident Insurance?

A personal accident insurance policy is a financial assurance that provides monetary compensation in case of accidental injuries, disabilities, or death. It acts as a crucial backup during unforeseen situations, ensuring your family’s financial stability. This policy covers a wide range of scenarios, including medical expenses, loss of income due to temporary or permanent disabilities, and even accidental death benefits.

For instance, in the event of hospitalisation due to an accident, the policy reimburses medical costs and provides additional allowances for recovery. It may also include educational benefits for children and transportation expenses for mortal remains. Designed to alleviate financial stress, personal accident insurance offers comprehensive protection for you and your loved ones during challenging times.

Why Should You Buy a Personal Accident Insurance Policy?

Accidents can disrupt lives, leaving a lasting impact on your physical, emotional, and financial well-being. A personal accident insurance policy acts as a financial shield, ensuring stability during such unexpected events. This policy covers hospitalisation costs, medical expenses, and income loss incurred due to temporary or permanent disabilities caused by accidents. In case of accidental death or permanent disabilities, it provides a lump-sum payout to your family, helping them cope with financial challenges.

Additional benefits, such as children’s education bonuses, ensure your dependents’ future remains secure even during difficult times. With its comprehensive coverage, a personal accident insurance scheme not only protects your finances but also provides peace of mind, making it an essential tool for financial preparedness.

Key Features of Premium Personal Guard

This plan will leave you relaxed and stress-free because of the cover it provides from various adverse conditions. Here’s how it will make your life simple after a mishap:

Permanent total disability (PTD):

In case of PTD due to an accident, you will be eligible for a payout of 200% of the sum insured.

Temporary total disability (TTD):

In case of TTD due to an accidental bodily injury, a weekly benefit would be payable as per the plan you opt for. Claim payment under TTD benefit is restricted to 50% for your spouse.

Accidental death cover:

100% sum insured will be paid to your nominee in case of death due to an accident.

Family cover

This policy covers you, your spouse and children in case of accidental injury or death.

Comprehensive accidental cover

This plan covers you from bodily injury, disability or death caused due to an accident.

Hospital confinement allowance

You are eligible to receive a benefit of Rs 1,000 to Rs 2,500 per day, for a maximum period of 30 days, when you are hospitalised.

Children education benefit

In case of death or PTD, you will receive Rs 5,000 (per child) towards the cost of education of up to 2 dependent children (under 19 years on the day of your accident).

Cumulative bonus

Avail 10% cumulative bonus up to your limit of indemnity for every claim-free year, up to 50% of the sum insured in case of hospitalisation.

Enhanced sum insured

You can modify your sum insured when you renew your policy.

Premium Personal Guard Claim Process

The claim for a settlement can be made through the reimbursement process, in case of accidental injury or death. During this process, the initial cost of the complete treatment has to be borne by you. We will then indemnify this amount when you submit all the required paperwork and documents.

Here are the documents required depending on the cover you have claimed for:

A) Death:

- Duly completed personal accident claim form signed by the nominee.

- NEFT form and cancelled cheque duly signed by the nominee.

- Attested copy of the death certificate.

- Attested copy of the FIR/Panchanama/Inquest Panchanama.

- Attested copy of the post-mortem report, if conducted.

- Attested copy of the viscera/chemical analysis report (if viscera is preserved).

- Attested copy of the statement of witness (if any).

- Burial certificate (wherever applicable).

- Insured’s/claimant’s address proof.

- Original policy copy.

- A copy of your Aadhaar card, or any other government photo ID and PAN Card. This is not mandatory if your ID card is linked with the policy while issuance or in a previous claim.

B) PTD, PPD and TTD:

- Duly completed claim form signed by the claimant.

- Attested copy of FIR/Panchanama/Inquest Panchanama.

- Attested copy of the disability certificate from a civil surgeon of a government hospital stating percentage of disability.

- X-ray/investigation reports supporting the diagnosis.

- NEFT form and cancelled cheque duly signed by the nominee.

- Original policy copy.

- A copy of your Aadhaar card, or any other government photo ID and PAN Card. This is not mandatory if your ID card is linked with the policy while issuance or in a previous claim.

C) Children’s education bonus:

- A bonafide certificate from the school/college or certificate from the educational institution/birth certificate.

- A copy of your Aadhaar card, or any other government photo ID and PAN Card. This is not mandatory if your ID card is linked with the policy while issuance or in a previous claim.

D) Hospital confinement allowance:

- First consultation letter from the doctor.

- Accidental hospital reimbursement.

- Duly completed claim form signed by the claimant.

- Hospital discharge card.

- Hospital bill giving detailed break-up of all expense heads mentioned in the bill. Clear break-ups have to be mentioned for OT charges, doctor’s consultation and visit charges, OT consumables, transfusions, room rent, etc.

- Money receipt, duly signed with a revenue stamp.

- All original laboratory and diagnostic test reports, for example, X-ray, ECG, USG, MRI scan, haemogram, etc.

- Other documents may be required by Bajaj Allianz General Insurance to process the claim.

- A copy of your Aadhaar card, or any other government photo ID and PAN Card. This is not mandatory if your ID card is linked with the policy while issuance or in a previous claim.

Additional Benefits with your Personal Accident Policy

All-in-one insurance that covers death, disability and injury caused due to accidents and offers various benefits:

Multiple Sum Insured Options

Sum insured options ranging between Rs 10 lakh and Rs 25 lakh.

Hassle-free claim settlement

Our in-house claim settlement team provides seamless and quick claim settlement. We also offer cashless facility at more than 18,400+ network hospitals* across India. This comes in handy in case of hospitalisation or treatment wherein we take care of paying the bills directly to the network hospital and you can focus on recovering and getting back on your feet.

Renewability

You can renew your Premium Personal Guard policy for your entire lifetime.

Eligibility Criteria to Buy Personal Accident Insurance Policy

To ensure financial protection against unforeseen accidents, it is crucial to understand the eligibility requirements for purchasing a personal accident insurance policy. These criteria ensure the policy is accessible to a wide range of individuals:

- Age Limit : Applicants must be between 18 and 65 years of age.

- Family Coverage : The policy extends to the proposer, their spouse, and dependent children.

- Dependent Children : Coverage is provided for children aged between 5 and 21 years.

- Occupation Risk Levels : Eligibility is categorised based on occupational risk classes—low, moderate, and high-risk occupations.

- Health Condition : Applicants should meet the health and medical underwriting standards, if applicable.

Road Accident Statistics in India

Road accidents remain a grave concern in India, with the nation recording some of the highest numbers globally. As per data from the Ministry of Road Transport and Highways, over 1.55 lakh lives were lost in road accidents in 2021, while more than 3.7 lakh individuals suffered injuries. These numbers underline the urgent need for robust financial safeguards, such as accident insurance policies.

A personal accident insurance scheme provides financial compensation for medical expenses and income loss. It also ensures family support during critical times. With the alarming frequency of road accidents, having adequate insurance is a practical and responsible step to shield yourself and your loved ones from unexpected financial crises.

Why Choose Bajaj Allianz Personal Accident Insurance?

Bajaj Allianz Premium Personal Guard is a personal accident health insurance policy that provides comprehensive cover against accidents and supports you in your hour of crisis.