The consequences of an accident can be as small as a scratch to as big as death. In case of death various insurance policies will help family to cope up with financial hardship but what about an accident where one looses body parts & that impacts his earning abilities. In such situations accidental insurance can be very helpful. Accidental insurance policy covers the risks which occur after the accident. Accidental Insurance excludes suicides, self injury, armed force operations, war etc.
Comprehensive Accidental Insurance policy provides benefits in 4 cases:
If an insured died due to an accident his nominees will get 100% sum insured. So its very important to have right nominee in any kind of insurance policy whether accidental or life.
Some time a person who meets with an accident loses his body parts may not be able to work in future. In case of Permanent total disability 100% sum insured is given to the insured person. It covers:
1.Loss of both hands or both feet or one hand and one foot
2. Loss of a Limb (hand/foot) and an eye
3.Complete and irrecoverable loss of sight of both eyes
4. Complete and irrecoverable loss of speech & hearing of both ears
As the name suggest, this benefit is given if someone losses one hand or one leg or even small body part like finger/toe. For this every insurance company have their own tables what they will cover & how much they will pay depends upon the age limit of the person as per policy documents.
How do you travel to work? By bike, car? No matter how you travel, cover your risk. give a missed call on 022 6181 6111 and learn the importance of accidental insurance.
Sometime it can happen that anyone may meet with some serious accident but there is no permanent loss. But doctor may suggest a complete bed rest of 5 weeks or a complete checkup of any part of the body. This will have an impact on earning for a small period, so in such case accidental insurance can compensate for this income loss. Weekly benefit is normally 1% of your sum assured for maximum 100 weeks. There is also a maximum limit according to your income.
There are few other benefits that one can get from insurance company few are priced in the premium & for others you need to pay additional premiums. These can be like emergency ambulance charges, education fund for kids, medical expenses, family transportation, imported medicines etc.
Accidental policy premiums do not depend on the age of insured but on his work profile & working conditions. Occupational classification divides people in 3 levels
To choose the best accidental insurance, give a missed call on 022 6181 6111
How is it different from Health Insurance?Health Insurance covers a basket of health related problems, including treatment for surgeries, transplant, hospitalization, pre and post hospitalization, etc. Personal Accident Insurance is a global cover, which offers cover for death and disability (Permanent partial and permanent total disability) due to accident.
What is Permanent Total Disablement (PTD)?Permanent total disablement refers to the absolute disability of an injured person after which he or she cannot engage in any employment or occupation of any description on a permanent basis.
What is Temporary Total Disablement?Any accidental injury that is the sole and/or direct cause of total, yet temporary disablement as long as the injured person is totally and completely unable to engage in any employment or occupation of any description can be termed as Temporary Total Disablement.
Is there any Income Tax benefit applicable towards the premium paid for Personal Accident Insurance?No, currently there are no Income Tax benefits of availing Personal Accident Insurance. The claim amount you receive, is however, not taxable.
Why do I need a nominee for my policy?In the unfortunate event of death of insured, the entire Sum Insured will be paid to the nominee. In the absence of a nominee, the claim process may become hectic for the Insured's family members, as they would be required to furnish a Legal Heir Certificate or Succession Certificate. Thus to avoid the hassle, having a nominee can be beneficial.
What is the scope of cover under Personal Accident policy?The personal accident policy covers death, permanent total and partial disablement and temporary total disablement as selected by the client. The policy also offers cover in case of accidental death - the reimbursement of funeral expenses.
