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General Insurance >> Personal Accident

This policy covers an individual against the risk of loss of life, loss of limbs , loss of use of limbs consequent to the happening of an accident. It is an annual policy which can be taken by anybody within the age group of 5 - 70 years. Sum insured is based on earnings and capacity to pay premiums.

There are three types of benefits available under the policy categorized as:

Death Only

The total sum Insured is paid as compensation.

On Death Only

• The total sum Insured is paid as compensation.
• Permanent total disablement resulting in loss of two limbs or two eyes or at combination of one limb & one eye - the injury merits in payment of the Total sum Insured as compensation.
• Loss of limb or loss of sight of one Eye
• The 50% of the sum Insured will be paid.
• Permanent Partial Disablement
• In case of minor injury the percentage of compensation is assessed by the attending surgeon.

Additional Cover

Weekly compensation is paid for a total period of temporary disablement subject to a maximum of 104 weeks at the rate of 1% of the sum Insured or Rs.5000/ which ever is lower.

These benefits are available only for those who have income from gainful employment.

Other Benefits

A sum equal to 1% of Insured sum, subject to a maximum of Rs.15000, is paid in case Permanent Total Disability results in loss of employment.

A sum equal to 1% of Insured sum or Rs.1000 which ever is lower is paid for transporting the dead body of the insured to his native place.

Cumulative bonus of 5% - 50% on Insured sum is given depending upon the successive renewals.

Two children of age less than 23 years are provided Educational Fund at 10% of Insured sum or Rs.5000 per child whichever is lower.

The accident cover is for 24 hours. But if cover is taken for 'on duty only' then, 75% of the normal premium is charged.

Cover can be granted beyond the age limit of 70 at an extra premium of 10%.

To cover the medical expenses an extra premium of 10% is charged, if you want to cover 25% of claim for Personal Accident. A premium of 25% extra is charged to avail a claim of 50%. But as far as the claims settlement goes 10% of sum Insured or 25% claim / 10% of sum Insured or 50% claim, which ever is less is paid.