Benefits And Features Of Personal Accident Insurance Coverage

Some time ago, while travelling from Ahmedabad to Mumbai, prominent businessman and former Tata Sons chairman Cyrus Mistry passed away in a car accident in the Palghar district. According to the accident’s initial details, Mistry’s car—driven by a renowned gynaecologist from Mumbai—lost control while overtaking another vehicle from the left.

Even though such accidents are regrettable, it’s essential to realise that they can happen to anyone, anywhere, even when driving at lower speeds in safer areas. Life may get worse after such an accident, so it’s important to have a solid personal accident insurance policy in place. A personal accident vehicle insurance policy may offer compensation for accidental passing away and disability. Claims are subject to terms and conditions set forth under the motor insurance policy. *

What Exactly Is A Personal Accident Insurance Policy?

A personal accident policy guards the insured against accidental passing away or disability. It simultaneously relieves the dependent family members’ financial burdens when they need it most. Depending on the accident’s severity, an insurer may offer different payouts for temporary and permanent disability. Claims are subject to terms and conditions set forth under the motor insurance policy. *

Compensation is available for three types of disabilities under a personal accident insurance policy: First, total and permanent disability, in which the policyholder experiences severe and irreparable harm and is unable to work or lead an everyday life. Second, partial and permanent disability, where the policyholder sustains partial but irreparable damage that significantly reduces their ability to lead a simple life. The policyholder experiences physical damage that temporarily prevents them from leading a simple life, and finally, total and temporary disability. Claims are subject to terms and conditions set forth under the motor insurance policy.

Why Should One Purchase Personal Accident Insurance?

A personal accident cover is crucial in a nation like ours where accidents frequently occur off the beaten path, claiming lives on footpaths, construction sites, and other locations. A personal accident cover protects finances in the unfortunate event of an accident and is one of the ideal ways to ensure personal safety. Claims are subject to terms and conditions set forth under the motor insurance policy.*

Additionally, no matter how severe the effects of an accident are, they may hurt the lives of dependents. Consequently, having personal accident insurance can give you the upper hand in these circumstances and shield your family. Claims are subject to terms and conditions set forth under the motor insurance policy.*

Several personal accident car insurance online policies offer the insured financial support and coverage against disability and passing away. The idea behind this consideration is to financially prepare a person injured in an accident, whether entirely or partially. *

How Does A Personal Accident Policy Operate?

A policyholder’s payout is based on the total amount insured and the accident’s severity. Accidents that result in passing away or permanent disability, therefore, receive the total payout, whereas accidents that result in partial damages may be covered depending on how severely the disablement is caused.  Claims are subject to terms and conditions set forth under the motor insurance policy. *

Besides its primary purpose, the personal accident cover may be combined with add-ons to offer the policyholder comprehensive support. Network hospital Cash Benefits and Ambulance Expense Cover are some of the more well-liked individual accident insurance add-ons. These add-ons provide a comprehensive complement to personal accident insurance. After adding the add-ons, you can use a car insurance calculator to know the approximate cost of the premium for your insurance. Claims are subject to terms and conditions set forth under the motor insurance policy. *

*Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.