Personal Accident Insurance

Life is uncertain. An unfortunate accident can occur at any time without any warning, and sometimes it can cause serious injury/disablement/death. Any such untoward accident can have a direct impact on your finances. 

To protect yourself and your family from such a situation, it is crucial that you purchase a personal accident insurance policy.

What is Personal Accident Insurance

Personal Accident Insurance offers financial benefit in the event of unforeseen accidental bodily injury or death.  The injury can lead to temporary or permanent disablement. It can help you get the financial support that you and your family will need at this hour of crisis. In the event of death, the insurance company will pay 100% of the capital sum insured to the nominee/ legal heir.

For permanent disability, either partial or total,  the financial benefit is paid as % of capital sum insured as per the table of benefits given in the policy document. Permanent disability refers to loss of limbs, eyes etc.

Types of Personal Accident Insurance

Group Personal Accident Insurance: This is meant for the business owners and companies  to provide a cover to their employees. They can get a discount on the premium based on the number of employees. A company that offers personal insurance cover to the employees is highly preferred by the candidates as it assures them financial safety in the event of an accident.

Individual Personal Accident Insurance: Same as above but instead of a group it is given to individuals.  The sum insured is dependent upon their earning capacity with supporting documents viz., IT Return, Salary slip on any other proof of income.

Benefits of Personal Accident Insurance Policy

Here’s the list of top benefits of taking a personal accident insurance policy:

  • Substantial cover offered at a lower-priced premium.
  • Family security.
  • Worldwide coverage.
  • Can be bought individually /for family/ for employees etc.
  • Highly customized plans available.
  • Some add on benefits are available.
  • No requirement of medical tests.


What’s not covered

The insurance policy does not cover:

  • Intentional self-injury, Suicide, attempted suicide, etc.
  • Committing any breach of the law with criminal intent.
  • Directly or indirectly from pregnancy or in consequence thereof.
  • War and nuclear perils.
  • Ionizing radiation or radioactivity.
  • Death due to any disease /illness.
  • Natural death.
  • While under the influence of alcohol or any intoxicating material.
  • Compensation under more than one clause for the same period of disability.
  • Any claim in the same period of insurance exceeding the capital sum insured.


In the event of accident or injury which has resulted in a Claim or may result in a Claim covered under the Policy, the Policyholder/ Insured Person / legal heir must notify the Company in writing immediately or through their call centre phone numbers to enable the insurance company to register the claim

The following details are to be provided to the Company at the time of intimation of Claim:

  • Policy Number,
  • Name of the policyholder.
  • Date of accident.
  • Name of the Insured Person who met with the accident.
  • Brief description of the accident – is it an injury claim or a death claim.
  • Injury claim – Name and address of the attending Medical Practitioner and Hospital.
  • Road Accident cases – First Information Report of Police.
  • Any other information as requested by the Company.

The Policyholder / Insured Person /Nominee /Legal Heir shall submit to the Company the following documents for or in support of the Claim:

  • Death Certificate (in case of Death Claim)
  • Disability Certificate (in case of Disability Claim)
  • Discharge certificate for treatment underwent in a hospital
  • Medical Practitioner’s referral letter advising Hospitalization
  • Medical Practitioner’s prescription advising drugs / diagnostic tests / consultation.
  • Original bills, receipts, and discharge card from the Hospital / Medical Practitioner.
  • First Information Report/ Final Police Report.
  • Income Proof.
  • Death Claim – Post mortem report, Viscera report etc.
  • Any other document as required by the Company to consider the Claim.