Frequently Asked Questions about Personal Accidental Policies
A personal accident policy is an insurance policy that provides coverage against accidental death, bodily injuries, and disabilities resulting from accidents. It offers financial compensation to the insured or their beneficiaries in case of accidental death or injury.
The key benefits of a personal accident policy include financial protection against accidental death, permanent total disability, permanent partial disability, temporary total disability, and medical expenses arising from accidents. It provides peace of mind by ensuring financial support during challenging times.
Personal accident policies are typically available for individuals aged between 18 and 70 years. Some insurers may have specific eligibility criteria or medical requirements for issuing the policy.
Accidental death cover provides a lump sum payment to the nominee or legal heirs in the event of the insured's death due to an accident. The sum assured is payable if the insured dies within a specified period after the accident, typically within 180 days.
Permanent total disability coverage provides financial compensation if the insured suffers permanent and total disability due to an accident, rendering them unable to engage in any gainful employment. The sum assured is payable as a lump sum or in installments based on the policy terms.
Temporary total disability coverage offers financial support to the insured if they are temporarily disabled and unable to work due to an accident. It provides a weekly or monthly income benefit for a specified period during the disability, subject to the policy terms.
Yes, many personal accident policies offer coverage for medical expenses incurred due to accidents, including hospitalization, surgical costs, medical treatments, ambulance charges, and diagnostic tests. The coverage amount varies across policies and may have sub-limits.
Personal accident policies typically have exclusions such as self-inflicted injuries, injuries due to war or terrorism, participation in hazardous activities, pre-existing disabilities or illnesses, and injuries resulting from intoxication or substance abuse. It's essential to review the policy document for a complete list of exclusions.
Yes, you can purchase multiple personal accident policies from different insurers to enhance your coverage. However, the total benefit payable in case of a claim cannot exceed the sum assured under all policies combined.
To file a claim under a personal accident policy, you need to inform the insurance company immediately after the accident and submit the necessary documents, including the claim form, medical certificates, police reports (if applicable), and other supporting documents as per the insurer's requirements. Once the claim is approved, the insurance company will disburse the benefits as per the policy terms.