Personal accident insurance is an agreement between the insurance company and the person insured where the former will provide financial compensation to the latter or his/her family in case of permanent disability/death caused directly and only due to any accident.
In case there is an injury due to an accident that requires immediate treatment, the policy will ensure coverage for the costs in this case. These reimbursement amounts are very useful in such situations.
In this policy the applicant can opt for Compensation for loss of employment due to accident for temporary period as per his income slab.
In this Policy cover allowed worldwide and 24 Hours.
Additional in-built Benefits:
- Educational Grant: Additional grant allowed per child up to 2 children in case of Death/Permanent Total Disability of the insured person
- Ambulance Charges / Transportation Expenses of Mortal Remains.
- Travel Expenses for One Relative (Applicable for Death claims only).
- Vehicle and/or Residence Modification expenses incurred will be covered as per terms of Policy clause.
- Expenses incurred in purchasing blood through a Hospital or Government approved blood bank is also covered in this Policy up to a certain limit.
- Expenses incurred on freight charges for importing medicines also covered in this Policy up to a certain limit.
Optional Benefits (on payment of the additional premium)
- Medical Expenses Extension:
Medical Expenses due to accident is also covered after paying additional premium. - Hospital Cash:
In some companies we will get additional Cash Benefit of Rs. 1000/- for each completed day of Hospitalization provided such hospitalization happens within 30 days from the date of the accident. The maximum period for which the benefit is payable is 15 days per occurrence and 60 days per policy period. Where the policy term is more than one year, this benefit is applicable for each year. This amount is payable in addition to the sum insured. - Home Convalescence:
Some companies offer this benefit by paying additional premium. The Company will pay Rs. 500/- for each completed day subject to a maximum of 15 days per occurrence and 60 days per policy period towards the cost of engaging one attendant at residence immediately after discharge from the hospital provided the same is recommended by the attending physician.
Group Personal Accident Insurance
Group Personal accident insurance is suitable for Organizations, Offices, Companies for their employees to provide financial compensation to the latter or his/her family in case of permanent disability/death caused directly and only due to any accident.
All other benefits are as per Individual Personal Accident Insurance Policy.
