Personal accident insurance

Personal accident insurance

  • This policy offers compensation in case of disability to the insured person, as a result of an accident.
  • The primary purpose is to protect temporary or permanent reduction in income, arising out of accidents.
  • It covers permanent disability like paralysis and loss of limb and temporary disability like fractures.
  • The premium depends on an assessment of risk at the workplace, and the extent of coverage.
    For example, 
    For individual with Sum insured 10 Lakhs premium comes around Rs 1400/- 
    For a family of 4 members (2 Adults + 2 Childs) with sum insured 10 lakhs premium comes around Rs 2600/-
  • This can be added on to life insurance policies too.
  • Death or injury due to any illness or disease is not covered under this insurance, even if such disease might be linked to the nature of the job.
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