You can buy the National Insurance personal accident plan on an individual or family policy basis that acts as a standalone policy. This policy is designed to cater to high-risk professionals/individuals categorized as the normal, medium, and heavy risk of the occupation involvement of the person. Hence, the payable premium varies from normal to heavy-risk individual/s in an ascending order.
With a guaranteed sum assured, it offers financial coverage related to accidental death. Also, it covers the critical conditions related to accidental injury such as total disability depending on the severity of injury. Additionally, if there is an optional cover choice that provides coverage for emergency hospitalisation related to an accident, with an extra payable premium. Read further to learn more about the eligibility requirements, coverage benefits, inclusions, exclusions, and more about the National Insurance personal accident plan.
Eligibility Criteria for National Insurance Personal Accident Policy
These are the eligibility criteria for buying a National Insurance individual personal accidental plan:-
Entry Age
5 - 70 years
Plan Type
Individual/Family cover
Policy Term
1 year
Sum Insured
Up to INR 10 Lakhs or gross pay of 72 months, the lesser amount
Initial Waiting Period*
None
*The Initial Waiting Period is the period between the issuance of the policy and the time it starts actively. During this period, a policyholder has to wait to avail of the benefits offered under a health insurance plan.
Benefits of National Insurance Personal Accident Policy
Before investing in this policy, know about the major benefits of personal accident policy under Oriental Insurance:
Accidental benefits
The plan covers several conditions of accident/s, the criteria and coverage of which are mentioned below:
Accidental death - payout 100% of the sum insured
Permanent total disablement - payout 100% of the sum insured
Permanent partial disablement - payout as per the policy terms' specified limit
Temporary total disablement - payout 1% of the sum insured up to 104 weeks at maximum, out of which the maximum weekly benefit limit should not exceed INR 5,000
Loss of body parts
For the loss of limbs, two eyes or one limb and one eye, the payout goes up to 100% of the sum insured. And, for the loss of one limb or one eye, get a payout of 50% of the overall sum insured.
Dead body mobility
If the policyholder dies outside their native place, the insurer will reimburse transporting charges of their dead body up to 2% of the sum insured at a maximum of INR 1,000.
Educational fund
The policy pays out for the education continuation for a maximum of 2 children up to 10% of the total sum insured not exceeding INR 5,000 for each child.
Additional benefits
The policy allows reimbursement of medical expenses up to 10% of the basic sum insured or 40% at maximum for admissible hospitalisation expenses caused due to an accident.
No-claim bonus
There's a facility of availing a 5% bonus against each claim-free year up to a sum insured of 50% on further renewals.
Discount
You can get up to a 10% family discount on premiums if your family members (up to 6 individual/s) are included in the same individual policy.
Tax benefits
Avail a tax benefit on the overall premium paid towards your National Insurance accidental policy, under Section 80D of the Income Tax Act, 1961.
Exclusions: National Insurance Personal Accident Policy
Read here, the common exclusions of the National Insurance accidental policy:
Pre-existing disease/disability
Intentional self-injury or an act of suicide/suicidal attempts
Drug abuse and alcoholic reasons for injury/death
Insanity
Maternity/newborn expenses
Cumulative bonus for death only benefit
Breach of law/unlawful activity, intention of criminal act
Check out the detailed exclusions in the policy's terms & conditions.
Final Thoughts
The National Insurance personal accident policy is primarily focused on providing coverage against accidental death, accidental temporary and permanent disabilities and the medical expenses related to the same. This is beyond just a health insurance policy, as it covers your child's educational needs when you are not there or not in a condition to supply them with resources of education.
Do you have further queries related to the National Insurance accidental cover policy? If yes, send us an email at helpdesk@policyx.com or give us a call at 1800 4200 269.
Explore other National Health Plans
National Health offers a wide range of health insurance plans to fulfill the medical needs of individuals, families, and senior citizens.
This plan suits you best if you are a newly married individual or have dependents like kids or elderly parents as this health plan covers all of them along with you.
If you are looking for a healthcare policy providing a high sum assured and covers your family members under one cover this is the right policy for you.
Unique Features
Cover up to 50 Lakhs
5% No claim discount
Critical Illness Benefit
Parivar Mediclaim Plus Policy (Pros)
High SI
Zone Wise Premiums
Multiple Discounts
Optional Covers Available
OPD Cover
Parivar Mediclaim Plus Policy (Cons)
Treatment outside India
PED
Injury Due To Illegal Activity
Injury Due To Hazardous Activities
Adventure Sport Injuries
Parivar Mediclaim Plus Policy (Other Benefits)
Affordable Premiums
Tax Benefit
AYUSH Cover
Anti Rabies Vaccination
Air Ambulance
Parivar Mediclaim Plus Policy (Eligibility Criteria)
Simran has an experience of 3 years in insurance content writing. She transitioned from hospitality to the insurance industry after her emerging interest in how vast insurance is. With her ability to write complex insurance concepts in a simple, relatable manner she keeps her audience hooked and solves their doubts smoothly.
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