Statistics reveal that at least thirteen people die every hour in road accidents in India. Accident can make a terrible impact on finances with increased spending towards treatment and disrupting income until recovery. In such a bumpy scenario, it is personal accident insurance that can be vital to keep finances smooth and sailing. The policy covers individual and his/her family against physical loss due to death or disablement arising out of accidental bodily injury anywhere in the world.
Accidental Death: It provides for payment of compensation on the insured person’s death caused by bodily injury arising out of accidental, violent, external and visible means and resulting in death within 12 (twelve) calendar months of occurrence of the accidental injury.
DamagePermanent Total Disablement: It provides for payment of compensation for bodily injury caused by accidental, violent, external and visible means resulting in Permanent Total Disablement resulting from an accident.
Permanent Partial Disablement: It provides for payment of compensation for bodily injury caused by accidental, violent, external and visible means resulting in Permanent Partial Disablement within 12 (twelve) calendar months of occurrence of such injury..
Temporary Total Disablement: It provides for payment of compensation for bodily injury caused by accidental, violent, external and visible means resulting in Temporary Total Disablement. The compensation shall be payable for the temporary period for which the Insured Person suffers from total disablement due to accidental bodily injury.
Along with these primary insurance coverages, you can also choose additional covers for additional amount to ensure complete protection to your vehicle and life. These covers offer you a range of benefits which will help protect your savings and peace of mind :
Transportation of Mortal Remains – Payment of an allowance of 1% of the Sum Insured, towards expenses incurred for transportation of Insured Person’s dead body from the place of accident to the place of residence.
Funeral Expenses – Payment of an allowance towards expenses incurred for funeral in the case of accidental death.
Education Grant for Children – Payment of a fixed allowance of Rs. 10,000 per dependent child up to the age of 23 years pursuing studies in case of accidental death or the permanent total disablement of the Insured.
Hospital Daily Cash Allowance – This benefit provides for payment of a fixed allowance per day of hospitalisation treatment in India for accidental bodily injury caused by accidental, violent, external and visible means, if the hospitalisation exceeds a specified number of days. This benefit is provided for a maximum period of 50 days after first two days of hospitalisation.
The Policy will not cover expenses relating to
Death or disablement caused by, contributed to or aggravated or prolonged by child birth or from pregnancy or in consequence of pregnancy or childbirth.
Compensation under more than one of the foregoing Clauses in respect of the same period of disablement except the Add-on covers.
Vehicles being used other than in accordance with the limitations as to use
Damage to/by a person driving without a valid driving license
Payment of compensation in respect of death, injury or disablement of the Insured Person due to or arising out of war and war like operations as well as nuclear perils.