National Personal Accident Policy

Overview

You can buy the National Insurance Personal Accident Plan on an individual or family floater basis; it acts as a standalone policy. This policy is designed to cater to high-risk professionals and individuals, categorized by normal, medium, and heavy occupational risk. Hence, the payable premium varies in ascending order from normal to heavy-risk individuals. With a guaranteed sum assured, it offers financial coverage related to accidental death. It also covers critical conditions related to accidental injury, such as total disability, depending on the severity of the injury. Additionally, there is an optional cover choice that provides coverage for emergency hospitalization 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.

Benefits of National Insurance Personal Accident Policy

Before investing in this policy, know about the major benefits of a personal accident policy under National Insurance:

Accidental Benefits

The plan covers several conditions of accidents, 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. 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 for their dead body up to 2% of the sum insured, with 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 a maximum of 40% for admissible hospitalization expenses caused due to an accident.

No-Claim Bonus

There's a facility to avail 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 individuals) are included in the same individual policy.

Tax Benefits

Avail a tax benefit on the overall premium paid towards your National Insurance accidental policy, tax benefits under Section 80D of the Income Tax Act, 1961.

Exclusions

• 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.