Personal accident insurance is necessary for everyone prone to accidental injuries and losses. It covers a range of injuries, disablement and even death resulting from unprecedented accidents.
If you are planning to purchase personal accident insurance but can't decide on the right type of policy for yourself, we are here to help you out.
In this blog, we have outlined different types of personal accident insurance policies to help you select the best plan that suits your requirements.
Types of Personal Accident Insurance Policy in India
Individual Personal Accident Insurance
Individual personal accident insurance is designed to meet the coverage requirements of a single person. It covers the medical expenses resulting from emergency hospitalisation and treatment for unexpected accidents.
The sum insured value for individual accident insurance plans is decided based on the age, income and risk exposure of the insured person.
Family Personal Accident Insurance
Some insurance providers offer family floater options or allow the insured to include their family members under their personal accident insurance.
For instance, Reliance Personal Accident Insurance allows the inclusion of family members. This means you can add your spouse and dependent children under your accident insurance policy.
Group Personal Accident Insurance
Group personal accident insurance offers coverage for a group of individuals. These are generally purchased by employers and organisations to offer accidental coverage to their employees.
Coverage Offered By Different Types of Personal Accident Insurance
Accidental Death Coverage
All types of personal accident insurance plans offer accidental death benefits to the insured person's nominee. The amount of the death benefit can vary from one insurance company to another. For example, with the Reliance Personal Accident Insurance plan, we offer 100% of the sum insured value as a death benefit.
Permanent Total Disability Coverage
Personal accident insurance plans also offer coverage in case of total permanent disablement of insured individuals. With our plans, you can get up to 2x of the base sum insured for your accidental permanent disability.
Permanent Partial Disablement Coverage
Personal accident insurance plans also cover any kind of permanent partial disablement of the insured due to unprecedented accidents. With our plans, you can claim up to your base insured sum in case you have undergone partial permanent disablement due to an accident.
Repatriation of Mortal Remains
Most types of personal accident insurance plans cover the cost of transporting the insured member's mortal remains. For instance, Reliance Personal Accident Insurance offers either 1% of the sum insured value or ₹1,00,000 (whichever is less) for the repatriation of the policyholder's mortal remains.
Child Education Coverage
Personal accident insurance plans from reliable providers often offer coverage for dependent children's education in case of the insured person's accidental death.
The grant amount for this benefit depends on the personal accident insurance type. Nevertheless, it is a notable benefit to have a personal accident insurance policy.
Also Read:
How to Buy Personal Accident Insurance?
Conclusion
Understanding the types of accident and health insurance plans is critical to ensure smooth financial management during difficult times.
A personal accident insurance plan allows you to access quality healthcare without worrying about the expenses. What's more? By offering a death benefit it makes sure that your dependent family members don't have to face financial challenges in your absence.
So, don't think twice about purchasing a suitable personal accident insurance plan today!
<h2> Reliance Personal Accident Insurance 360 Sheild </h2>
With Reliance
Personal Accident Insurance, you get base coverage for accidental death, permanent total disability, permanent partial disablement and repatriation of mortal remains.
For broader coverage, you can choose from various add-ons such as Adventure Sports, Cumulative Bonus, Daily Hospital Cash, Accidental OPD, Temporary Total Disablement and more.
And if you’re looking for standard health insurance plans with comprehensive coverage,purchase our Reliance
Health Infinity Insurance to get comprehensive health coverage!
Frequently Asked Questions (FAQs)
Can I purchase personal accident insurance for the elderly?
Yes. You can purchase personal accident insurance for the elderly for a tenure of one, two or three years.
Can I purchase personal accident insurance alongside my regular health insurance plan?
Yes. You can definitely buy personal accident insurance with your existing health insurance policy to enjoy specialised coverage for accidental injuries and losses.
