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What is personal accident insurance?
Personal accident insurance plans provide cover against some major injuries caused due to an accident. Major injuries like loss of limbs, burns etc are covered by this plan.Usually these covers are part of riders along with some other life insurance plan. However buying a stand-alone personal accident plan is often the best solution as the cover is a lot more comprehensive. While health insurance plans will cover the cost of treatment, these plans will provide lumpsum amounts in case of a major injury.
What are the coverages in a personal accident insurance plan?

List below are some of the major coverages provided in the plans. Please check the policy details for exact nature of coverage

Accidental Death

It indicates death of the policyholder in an accident. The Sum Assured under this plan is payable if death occurs from an accident. However, the death needs to occur within specified timelines of the accident for the claim to be payable, usually taken as 15 days. In that case, if death occurs after 15 days of the accident, then the claim may not be payable as the reason for death could be any other than accident also

Accidental Disability

It indicates that the policyholder is disabled from work, either partially or wholly. Again, the claim would be payable if the policyholder has been disabled from work for a period more than 180 days. In that case, if the policyholder is physically disabled, either partially or wholly,but he is able to work, then the claim may not be payable

Accidental Dismemberment

It indicates that a part of the policyholder's body has been severed or dismembered. It means, if the policyholder loses his hand or leg or eyes, then he would be eligible to get a claim under Accidental Dismemberment. There are certain norms for the payment of the Sum Assured. For example, if one hand or one leg is severed from the body, then 50% of the Sum Assured is payable to the policyholder. However, if both hands and one leg is severed, 150% is not payable but the entire Sum Assured would be payable as a claim.

Hospitalisation Expenses

You will be provided coverage against the expenses incurred during hospitalisation due to an accident. You may also receive a daily cash allowance for the duration of hospitalisation

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