The Personal Accident Policy from the New India Assurance Company Limited offers coverage in case of disability or death arising out of accident. It offers cover in case of bodily injuries or death of the insured individual caused due to accidents by violent, visible and external means, and operates globally on a 24/7 basis. Customers can choose from multiple coverages ranging from restricted death cover to comprehensive death covers, temporary disablements and permanent disablements. Individuals can also avail Family Package cover wherein the dependent children and spouse of the proposer can be covered under a single policy and claim a 10% discount in premium.
Eligibility Criteria of New India Personal Accident Policy:
Any adult who lives in India is eligible for the Personal Accident Policy provided they are between five and 70 years of age.
Features and Benefits:
- Coverage in the event of bodily injuries or death of insured individual resulting from an accident
- Global policy that offers 24/7 cover
- Variety of coverage ranging from cover of death only to comprehensive cover for temporary total disability, permanent disability, and death
- Family package cover can be availed by customers and the proposer will be covered along with his/her dependent children and spouse under the same policy
- 10% discount on premium payments for family package
- Group personal accident policies can be availed by specific groups
- Discount for group policies determined by the group’s size
Kinds of Coverage:
- Coverage for death of the insured to the extent of 100% of the sum assured
- Coverage as applicable under Table D
- Coverage for permanent total disability including paralysis resulting from an accident to the extent of 100% of the sum assured
- Coverage for loss of one eye or one limb to the extent of 50% of the sum assured
- Coverage for loss of both eyes / two limbs / one eye and one limb to the extent of 50% of the sum assured
- Coverage as applicable under Table C
- Coverage for permanent partial disability wherein a body part is permanently disabled as a result of an accident, for instance, irrevocable and total loss of use of a finger, to the extent of a certain percentage of the sum assured
- Coverage as applicable under Table C
- Coverage for temporary total disability if the assured individual is temporarily disabled from working due to an accident. For instance, fracture of legs. Coverage in such cases will be provided on a weekly basis and is limited to 1% of the sum assured and a maximum limit will be set. The coverage will be paid for a maximum of 100 weeks or the duration of the insured individual’s disability.
The assured individual is allowed to claim any one of the aforementioned sections if they incur injuries due to an accident. The coverage provided by the policy also covers expenses borne when transporting the dead body from the accident zone to the residence, but it cannot exceed Rs.2500 or 2% of the sum assured.
Under Family Package Policy or Individual Personal Accident Policy, proposers are eligible for an education fund which will cover two dependent school-going kids in the event of permanent total disability or death of the assured individual.
Kinds of Personal Accidental Policies:
- Group Personal Accident Policy
- Individual Personal Accident Policy
- Passenger Flight Coupon – indemnity for risk of personal accident when travelling on scheduled flights
- Janata Personal Accident Policy – indemnity as under Table C for maximum sum assured of Rs.1 lac
- Gramin Personal Accident Policy – indemnity as under Table C for individuals who reside in rural areas for sum assured of Rs.10,000
- Raj Rajeshwari Mahila Kalyan Yojna – coverage as under Table C for women between the ages of 10 and 75 years for sum assured of Rs.25,000. The wife will receive Rs.25,000 if the husband of a married woman dies as a result of an accident. If an unmarried woman dies as a result of an accident, the legal heir or nominee will receive Rs.25,000
- Student Safety Insurance – coverage as under Table B for students attending colleges and schools for sum assured of Rs.10,000
- Bhagyashree Child Welfare Policy – coverage for girl child aged between zero and 18 years provided that her parents are younger than 60 years of age. Rs.25,000 will be deposited in the girl child’s name with a bank or financial institution mentioned in the policy if either or both of her parents die as a result of an accident
How to claim
To make a death claim, the issuing office must be notified immediately by the assignee and then the claim form must be submitted along with the original policy, death certificate, police report and post-mortem report.
To make an injury claim, the issuing office must be notified immediately and then the police report, if any, must be submitted before submitting the claim form and a medical certificate that certifies the disability. If medical expenses extension has been availed, the bills must be submitted along with the prescription.
*** Please note that the above-mentioned information is indicative only. Please read the complete policy document before purchasing the plan.
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GST rate of 18% applicable for all financial services effective July 1, 2017.
Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.