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How does a Personal Accident Insurance policy work?
published on April 22, 2022

An accident does not come knocking at your door. Accidents can be a very shocking experience – not just for those involved but for families and friends as well. The uncertain nature of accidents catches people by surprise, giving them little time to react. It can cause severe injury, permanent disability, or even death.

Any accident leads to a financial crisis. Accident victims and their families deal with immense mental and financial stress. Treatment, hospitalization, and inability to work while recovering contribute to hardships, and that is why it is always recommended that you buy personal accident insurance. Don’t you think?

Personal accident insurance provides necessary financial assistance to you and your family against accidental death and physical injuries disabilities (Temporary, Partial/Permanent). There are various rider benefits such as Medical Expense Cover, Hospital Confinement Allowance, and Accidental Hospitalization Cover that a person can choose from.

Types of Personal Accident Policy:

  • Individual Accident Insurance: In case of any accidental damage, this type of policy guards ONLY an Accidental death, loss of sight or limbs, or other permanent disabilities are covered by the insurance.
  • Group Accident Insurance: This type of insurance is taken by employers to give their employees Insurers provide a discount on premiums depending on the group size. For small organizations, it is a good incentive/value-added advantage as it is available at a very low cost. This is a basic plan and may offer very limited benefits as compared to an individual plan.

What is covered by Personal Accident Insurance?

  1. Accidental Disability: A policyholder, who is partially or totally disabled(inability to do work and physical impairments) can claim for this coverage. Total disability can be temporary or permanent.
  2. Accidental Death: In case of an unfortunate death due to an accident, a policyholder can claim this type of coverage.
  3. Hospital cover: If an accident leads to hospitalization, payment is made each day for a certain number of days, under this type of coverage.

Personal Accident Insurance Exclusions:

  1. Pre-existing injuries or disability.
  2. Accident due to intoxication of alcohol and drugs.
  3. Pregnancy or childbirth.
  4. Taking part in a dangerous and unsafe sports event.
  5. Intentional suicide attempt.

If you are eager to protect yourself from the risks of accidents, then you must check Elephant’s Personal Accident Insurance plans. Safety first!

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Alliance Insurance Brokers Pvt. Ltd.
8th Floor, Gold Crest, 10th Road, Juhu, Vile Parle (W), Mumbai 400 049, India
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CIN: U67200MH2003PTC141621
IRDAI Registration No.: 217
Valid from : 13/10/2021 to 12/10/2024
Category : Composite Broker
Principal Officer Name: Mr. S. V. Thakkar
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