Personal Accident Policy

Accidents are unexpected and unavoidable. Whether you’re on the road, at work, traveling, or even at home, accidents can occur anywhere, posing a significant financial burden on you and your family. Since it’s impossible to predict or prevent all accidents, Personal Accident Insurance provides financial protection for you and your loved ones in case of an unfortunate event.

This policy covers physical injuries, burns, and accidental death. If the insured person passes away due to an accident, the policy offers financial security to their family. Additionally, if the insured survives an accident but is left with permanent disability, the policy compensates by paying a fixed percentage of the sum insured based on the type of disability.

Key Benefits

  • Accidental Death: In the event of the insured’s death due to an accident, 100% of the sum insured is paid to the nominee.
  • Loss of Vital Limbs: If the insured loses vital limbs in an accident, 100% of the sum insured is paid.
  • Permanent Partial Disability: In cases of partial permanent disablement, 50% of the sum insured is paid out.
  • Temporary Total Disability: A percentage of the sum insured will be paid for temporary total disability.
  • Broken Bones: Coverage is provided for fractures sustained in an accident.
  • Burns: The policy covers burns resulting from accidents.

Add-On Covers

  • Education Benefit: Financial assistance for the education of the insured’s children in the event of an accident.
  • Employment Benefit: Coverage to provide financial support in case of loss of employment due to accident-related disability.
  • Ambulance Benefit: Coverage for ambulance expenses in case of an accident.
  • Cumulative Benefit: Accumulation of benefits over time for continued coverage.
  • Compensation for Damaged Clothing: Reimbursement for clothing damaged in an accident.
  • Transportation of the Deceased: Expenses for transporting the deceased’s body following an accident.
  • Modification Allowance: Financial assistance for necessary modifications to the insured’s home or vehicle due to permanent disability.
  • Family Transportation: Coverage for the cost of transporting family members to the hospital or accident site.

Exclusions

  • Self-Inflicted Injuries: Injuries intentionally caused by the insured.
  • Suicide: Claims related to death by suicide.
  • Venereal Diseases: Coverage does not extend to venereal diseases.
  • Mental Illness: Excludes coverage for claims arising from insanity or mental health disorders.
  • Intoxication: Accidents occurring under the influence of alcohol or drugs.
  • War and Nuclear Risks: Excludes claims related to war, nuclear accidents, or related risks.

Claim Process

In the event of an accident leading to a claim, this policy provides comprehensive coverage for accidental death or disability, regardless of where the incident occurs worldwide.

There are four types of claims that can be filed under this policy:

  • Accidental Death
  • Permanent Total Disability
  • Permanent Partial Disability
  • Temporary Total Disability

Accidental Death Claim Document Checklist:

  • Completed claim form
  • Death certificate
  • FIR, MLC, Police Final Report, or Railway Guard Memo (in case of a railway accident)
  • Post-mortem or viscera report, or a certificate from the treating doctor specifying the cause of death
  • If claiming medical expenses, submit medical bills, cash memos, doctor’s prescriptions, and hospital discharge summary
  • AML (Anti-Money Laundering) documents, including address and ID proof, along with the KYC form
  • ID proof of both the nominee and the deceased