Personal Accident Insurance: Are You Already Covered Without Paying a Premium?
Many people remain unaware that they are already covered under personal accident policies without any direct payment. This insurance provides crucial financial protection in case of accidents, disability, or death. Here’s what you should know:
Key Benefits of Personal Accident Insurance
- Weekly Compensation: If you are temporarily disabled due to an accident, you can receive weekly compensation and recover treatment costs from the insurer.
- Accidental Death Cover: If you meet with an accident while driving a car or motorcycle, you or your family can claim coverage up to ₹15 lakhs.
- Group Coverage: Employers can cover employees under a group personal accident (GPA) policy with sum insured up to ₹50 lakhs at a nominal monthly cost (₹60–₹100 per person).
Who Is Covered?
- Car or motorcycle owners automatically enjoy a personal accident cover for ₹15 lakhs.
- Travelers by air or train can opt for personal accident coverage during travel.
- Many credit/debit card holders, social organizations, clubs, political parties, and some state transports also provide this cover.
Unfortunately, many are unaware of this coverage and fail to claim benefits.
What Does the Policy Cover?
- Accidental Death – 100% of sum insured
- Permanent Total Disablement (loss of two limbs, eyes, or equivalent) – 100%
- Permanent Partial Disablement (loss of one limb/eye) – 50%
- Temporary Total Disablement – Weekly compensation (1% of sum insured or ₹5,000, whichever is lower)
- Children Education Grant – Up to ₹10,000 per child (max 2 children under 25 years)
- Medical Expenses – Up to 40% of claim amount or 10% of sum insured
- Other Covers: Burns treatment, repatriation of mortal remains, ambulance charges, transportation allowance, accidental hospitalization, prosthesis, legal expenses, and more.
Exclusions to Note
Claims will not be admitted in cases involving suicide, intoxication, criminal acts, pregnancy-related issues, professional sports, aviation (except fare-paying passengers), mining, military personnel, nuclear risks, and participation in hazardous sports or activities.
Group Personal Accident Insurance for Organizations
Most companies cover employees under Group Personal Accident Insurance. Premiums vary by group size and employee profession, typically ranging from ₹60 to ₹100 monthly per person for a ₹50 lakh sum insured.
Why Choose a Personal Accident Policy?
- Profit policy: You can claim benefits from your policy in the event of accidents.
- Low premiums: High coverage at minimal cost.
- Wide automatic coverage: Many individuals are covered unknowingly through vehicle ownership, card membership, or affiliations.
- Financial security: Supports you and your family during injury, disability, or death.
For the best quotes and expert assistance on personal accident insurance, please contact us.
Contact Details
Abad Khan
AK Insurance Marketing Pvt. Ltd.
A-918, ATS Bouquet, Sector-132, Noida-201303
Email: abad@bimasathi.in
Phone: +91 99996 82324, 0120-4360776
