Have you ever read a mysterious book? On every page there is a new twist and turn. You are always at the edge and this is how life is. It is a mysterious book, which always brings a new twist, a new uncertain turn. Thus, it might become difficult for you to handle this unpredictability. It is normal to be totally clueless, if any tragic incident takes place in your life and you are not fully prepared in advance. Therefore, in order to stand strong in situations where we have no control, it becomes necessary to have insurance so that we can manage the financial part at least, especially when it comes to health.
Personal Accident Policy of New India is a unique health policy specifically introduced to give you some kind of compensation or a monetary aid as some say, when you are at your lowest. Unlike other medical policies of New India, which almost covers your every health need (hospitalization, critical illness, day-care treatment, etc.), this plan just focuses on the circumstances that you may have to face because of unforeseen accidents.
Who fits In- Personal Accident Policy is for people who are prone to accidents. It was designed especially to overcome the circumstances one may face because of an accident. However, this is just a 24 hour cover plan.
Money Needed to Buy- The sum insured depends on the income of the insured. The maximum amount you can insure is up to your 72 months income. In case of your non-working life partner, the maximum amount insured is up to 50% of your sum insured amount, which cannot exceed 1 lac and in case of your children, the sum insured is up to 25% of your sum insured and that amount cannot exceed Rs.50, 000. Though there are several types of policies that comes under the Personal Accident Plan, which has a fixed amount of sum insured.
Tabular Scope- The coverage offered under this plan are as follows-
Table D- 100% of the sum insured is given during the death of the insurer.
Table C- 100% of the sum insured is payable in case of death, total paralysis and loss of both limbs and eyes and 50% of the sum insured is payable in case of loss of one eye or limb.
Table B- Covers everything that Table C covers, as well as it pays part of the sum insured as mentioned in the policy in case of partial disability or paralysis- like not able to move one finger.
Table A- Covers everything that Table B covers. Also gives maximum 1% of the sum insured in case of temporary disability, which makes it difficult for you to go to work. For e.g. - a fracture in your leg or hand.
Ride Coverage- It not only offers money if the insured is dead, but also provides 2% of the sum insured or Rs.2500 (whichever is less) to carry the body from accident place to the home of the person.
Make a Choice- There are several types of Personal Accident covers available-
"Personal Accident Policy of New India was specifically designed to overcome or at least try to overcome the trauma and pain of an accident. It offers the compensation for the death or disablement of the insured. Moreover, there are so many different types of accident policies available under this plan that it becomes easy for you to choose the one that suits your needs. However, it just offers you the compensation for an accident, but not for its treatment as such unless you extend the policy."
Accidents and Incidents happen that makes life unpredictable for us to judge. Thus, it is good if you really want to know why to trust this policy with your life.
Injury Claim - Inform the insurance company. Then, fill the claim form and if there is any police report, then submit it. Submit the filled form as well as medical certificates stating the disability and if the policy is extended then provide the medical bill to the insurance officer.
Death Claim - Inform the insurance company immediately.Fill the claim form and submit it along with a death certificate.
Unforeseen accident is like the strongest punch that life throws your way. It becomes hard to stand up in these kinds of situations if you do not have support. Personal Accident Policy might help you out in such situation. Rest depends on you and your needs.
Last updated on 02-06-2020