PERSONAL ACCIDENTAL INSURANCE POLICY FAQs

What is an individual personal accident policy?

An individual personal accident policy offers you financial protection and provides lump sum compensation in case you suffer from a fatal accident or an accident that leaves you permanently disabled. This compensation acts as a safety net and saves you and your family from a financial crunch as it also covers costs for hospitalization because of an accident.

I am a homemaker and I spend a majority of my time at home. Do I also need an individual personal accident policy?

Accidents cannot really be predicted and can happen to anyone. From motor accidents and rail accidents to natural calamities, the list is truly endless. It might seem scary to think of such eventualities, but you cannot let them intimidate you. Be financially prepared and opt for an individual personal accident insurance that can help you meet the expenses in case any crises were to arise in your life.

I have already bought a health and life insurance cover. Why should I also buy an individual personal accident policy?

While a life insurance offers death benefits to your nominees and beneficiaries in the case of your death, health insurance provides compensation or reimbursement for your hospitalization and other medical expenses. An individual personal accident policy, on the other hand, will insure you against financial risks that may arise due to the permanent total disability or death of the policy holder in an accident. The policy strengthens your financial portfolio and helps secure the future of your dependent family members.

Does the policy cover hospitalization expenses incurred after an accident?

 Yes. You have the option to avail this benefit.

I have a dependent family to support and I am the only bread winner. Does the individual personal accident policy cover death?

Yes. You need to mention the names of your nominees or beneficiaries in the policy document and in case of your death, the sum insured will be paid to them by the insurance company.

I am a homemaker and I spend a majority of my time at home. Do I also need an individual personal accident policy?

Accidents cannot really be predicted and can happen to anyone. From motor accidents and rail accidents to natural calamities, the list is truly endless. It might seem scary to think of such eventualities, but you cannot let them intimidate you. Be financially prepared and opt for an individual personal accident insurance that can help you meet the expenses in case any crises were to arise in your life.