Indianmoney Facebook Indianmoney twitter Indianmoney LinkedIn Indianmoney Google Plus Indianmoney Youtube Indianmoney Instagram Indianmoney Medium

" You cannot prevent accidents, but you can prepare for them with a personal accident plan. "

Accidental Insurance

You have just finished your meeting at office and rushing home for an early dinner is your main priority. You are riding your two wheeler looking carefully for those potholes and another vehicle hits you from behind. You are rushed to the hospital and find you have a fractured leg. No work for the next few months and no pay.

Worse Those hefty medical bills

It is now too late to avail a personal accident plan but yes better late than never. You can meet with an accident again and this time you are armed with a personal accident plan.

Why buy Accidental Insurance?
Pays Death Benefit

Pays Death Benefit

The family members of the policy holder get a death benefit, if death is due to an accident.

Pays Accident Bills

Pays Accident Bills

Pays for any temporary, partial or permanent injury you suffer in an accident.

Plan is Cheap

Plan is Cheap

The premium for a basic accident plan or even a comprehensive accident plan is very low.

Special Benefits

Special Benefits

Special accident plans available to high risk workers, who work in mines, oil rigs and have high exposure to accidents.

Eligibility for Accidental Insurance

If you are between 18 to 65 years of age, then you can avail a personal accidental insurance plan.

Personal accidental insurance plan can be renewed till the age of 75 years.

Key factors to consider for Accidental Insurance

So what's this basic accident plan?

You pay a premium (money you pay to avail the plan) for a sum assured (money your nominee/family gets if you die in an accident.

The word "basic" denotes a simple plan where your nominee/family gets the sum assured only if you/policyholder die in an accident.

No money is paid for the treatment of injuries related to an accident. This makes the premium of the basic plan very cheap and if you pay a premium of INR 400-500 you can avail a sum assured of INR 8- 10 Lakhs.

But what would happen if you were to suffer a serious accident and be totally disabled. This is why you must avail a comprehensive accident plan.

What is a comprehensive accident plan?

You have to pay a higher premium in a comprehensive accident plan than in a basic accident plan to avail the same/lower sum assured. Unlike a basic accident plan you get money/sum assured for the treatment/hospitalization for injuries related to accidents.

If you suffer an accident leading to permanent total disability (you are totally incapacitated for life), Temporary total disability (you suffer a broken leg which makes you temporarily disabled for a few months) Permanent partial disability (severed fingers in an accident affect your earning ability).The comprehensive accident plan pays you either the full sum assured or a percentage of the sum assured based on the type of disability you suffer.

If you suffer an accident leading to a temporary total disability (say a fractured hand or a leg) leading to a loss in income as you cannot work, the comprehensive accident plan pays you money to compensate this loss.

Are there any additional benefits you can take in a comprehensive accident plan?

You can opt for additional benefits in your comprehensive accident plan. You will have to pay very high premiums for certain benefits in the comprehensive accident plan.

These benefits include modification of your house if you are permanently totally disabled (Your house is modified to enable your easy movement in the house). These plans also arrange for the transport of your family members to attend to you when you are injured in an accident. Blood required for you for the transfusion is also purchased under the plan.


Individual Policy: This policy covers an individual in the event of any accident.

Group Policy: As the term itself suggests, it is not meant for individuals and is taken by employers for its employees. Depending on group size, discount on premium might be offered as well. It is a good incentive/ value added benefit for small organizations as it is available at low cost. However, this is a very basic cover and may not offer benefits like that of individual plan.

Related Articles

14 May 2018, Monday

The Power of Compounding

  Today I would like to share with you one of the interesting and heart breaking fact of investing. I am in financial Industry from quite a long time, and I have some good number of quality clients and their big accounts. When I met all these clients for the first time I shared with them the...

14 May 2018, Monday

SIP - Systematic Investment Plan

  Today’s world has offered us with lot of attractive things, which leave us empty handed at the middle of the month itself. We have lot of needs to take care of, lot many things to buy, different loans and EMIs to repay and many dreams to plan as well. But it is very difficult to pl...

10 May 2018, Thursday

How to Invest in Gold ETFs?

  Gold ETFs are open-ended Mutual Fund schemes that will invest the money collected from investors in standard gold bullion. The investor's holding will be represented in units; each unit will be equal to one gram of gold at the time of allotment. As the price of gold rises, the price of...

Most Read Articles

18 July 2012, Wednesday

How to Make Claim on a Life Insurance Policy?

Formalities for a health insurance claim You can make a claim under a Health insurance policy in two ways: On a Cashless basis and A Reimbursement Claim On a Cashless basis: For a claim on cashless basis, your treatment must be only at a network hospital of the Third Party...

14 March 2014, Friday

ELSS - Utilizing the power of compounding

As the name suggests ELSS invests the whole corpus in equities. Proportions as high as 80-90% of equities are found in an ELSS Fund. It is a special kind of mutual fund that qualifies for tax benefits. Basically Equity Linked Savings Scheme is a mutual fund with a lock in period of three years and...

07 January 2014, Tuesday

Why one must never neglect estate planning

One of the most common reason for family feuds in India as in the rest of the World is faulty estate planning. Estate planning is a neglected topic in India mainly because of the emotions attached to it. A common reason people neglect to make a will or indulge in estate planning in their younger yea...

Get It now!

How about our new look!

Mm.. Ok