11/09/2020
How Does Buying Personal Accident Insurance Benefit You?
The basic benefit of Personal Accident insurance is that it safeguards you against any unseen unfortunate accidents that may occur at any time. It supports you in the time of medical expenses and/or loss of income due to an accident. The following are a few of the many benefits of the personal accident insurance policy.
• No Medical Check-ups: Unlike many other policies, Personal Accident Policies do not require medical check-ups, so the process is pretty much hassle-free.
• High Cover: You can avail a good, substantial cover for
• Child Education Benefits: Legal and funeral expenses are covered with Child education benefits.
• Life Support Benefit: It offers life support benefits as well.
• Flexibility: You can opt to buy personal accident cover for either yourself or for the family.
• Death and Disability Cover: You get double indemnity for death or disability caused while travelling on public transport
• Group Discounts: If you opt for group accidents cover, you stand to get discounts from the insurance companies.
• Safeguard Against the Rising Healthcare Costs: With healthcare costs rising about 15-18% each year, within the next 5 years, the cost of hospitalization will be more than twice. This policy will safeguard you against this inflation.
Features:
• – covers Accidental Death
• – covers Accidental Death and Permanent Disablement
• – covers Accidental Death, Permanent Disablement and Temporary Total Disablement (Weekly Compensation)
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• Educational Grant: Maximum of Rs.10,000/- per child upto 2 children in case of Death/Permanent Total Disability of the insured person
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• Ambulance Charges / Transportation Expenses of Mortal Remains: The limit of Company’s liability is Rs.5,000/- only during the policy period.
• Travel Expenses for One Relative (Applicable for Death claims only): 1% of Total Sum Insured upto Rs.50,000/- subject to actual for the transport expenses to one relative of the insured person.
• Vehicle and/or Residence Modification: 10% of Table B and Table C sum insured subject to a maximum of Rs.50,000/- towards the expenses incurred to modify the insured person’s residential accommodation or vehicle.
• Purchase of Blood: Upto 5% of the sum insured under relevant table/tables opted subject to a maximum of Rs.10,000/- towards the expenses incurred in purchasing blood through a Hospital or Government approved blood bank.
• Transportation of Imported Medicines: Upto 5% of Total sum insured subject to a maximum of Rs.20,000/- towards the expenses incurred on freight charges for importing medicines.
Optional Benefits (on payment of additional premium):
• Medical Expenses Extension: Upto 25% of the valid claim or 10% of the sum insured or actual whichever is less subject to a overall limit of Rs.5,00,000/- per policy period.
• Hospital Cash: Cash benefit of Rs.1000/- for each completed day of Hospitalization (excluding date of admission and date of discharge) provided such hospitalization happens within 30 days from the date of accident.
• Home convalescence: Rs.500/- for each completed day subject to a maximum of 15 days per occurrence and 60 days per policy period towards the cost of engaging one attendant at residence immediately after discharge from the hospital, provided the same is recommended by the attending physician.
