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Which are the best personal accident policies in India?

  • Highlights

  • A personal accident insurance coversyou against loss of income

  • Post-hospitalization expenses are within the policy’s scope

  • Accidents of various magnitude are covered under the policy

  • Top 6 personal accident policies for you to pick from

At times you may have questioned the need to buy a personal accident plan, if you already have a life cover. The need for a personal accident policy arises from the fact that a life insurer offers financial security only in case of the insured’s demise. While health insurance is useful only for meeting hospitalization cost. So, this makes it important to have a separate personal accident insurance cover for every individual.

Get Personal Accident Cover of up to Rs. 25 lakh. Premium starting at Rs. 230 Buy Now!.

Accidents, however, could render the patient partially or fully disabled, leading to loss of income for prolonged periods. A personal accident insurance covers you against bodily injuries or disability or death caused by violent, accidental, visible and external events. Accidents of all magnitudes are covered by the policy. In case the insured expires due to an accident, the nominee can claim the sum assured. Personal accident policy typically covers accidental death, total permanent disability, partial disability, some insurers cover hospitalization expenses and loss of income too.

While buying a personal accident plan, we need to consider to some important factors in mind:

• Plan Option: individual or family floater plans
• Age Limits
• Sum Assured
• Accidental Death Benefit
• Disability factors
• Add-on covers
• Medical expenses & ambulance charges

Top 6 Best Accidental Insurance Plan

Insurer Plan Name Age (in years) Policy Tenure Coverage amount
Aditya Birla Health Insurance Activ- Secure Personal Accidental Plan. 5-65 years 1, 2 or 3 years 12 times the annual gross income of the earning individual
Bajaj Allianz General Insurance Personal Accidental Plan N/A 1 year Rs. 10-25 lakh
HDFC Ergo General Insurance Personal Accident Plan 18-65 years 1 year Rs. 2.5-15 lakh
Niva Bupa Health Insurance Accidental Plan 18-65 years 1- 2 years Rs. 5-25 lakh
Care Health Insurance Personal Accident Plan 18 years to 70 years 1, 2, or 3 years Rs. 15 lakh- 25 crore
ICICI Lombard Personal Protect Policy Personal Accidental Plan 18-80 years 1, 3 or 5 years Rs. 3 - 25 lakh

1. Aditya Birla Personal Activ Secure- Personal Accident

Aditya Birla comes with additional benefits at affordable prices and a comprehensive approach. This includes:
• Coverage of modification or repair of the vehicle or residence
• A 5% Cumulative Bonus for every claim-free year
• Hiring a personal coach and trainer to recover faster after the injury

2. Bajaj Allianz Personal Guard Plan

Bajaj Allianz covers death, disability, educational bonus, medical and hospitalization expenses. Bajaj has a 72 % incurred claim ratio, which indicates the company's ability to pay the claims. The minimum sum assured is Rs. 10 lakh whereas the maximum is Rs.25 lakh. Bajaj provides a cumulative bonus of 10% per claim free year.

3. HDFC Ergo Personal Accident Insurance Plan

HDFC Ergo plan covers expenses arising from accidental death, permanent disability, broken bones, burns and related ambulance cost and hospital expenses. The policy is open to individuals within 18-65 years of age.

4. ICICI Lombard Personal Protect Policy

This ICICI Lombard product provides cover against death, total disability, hospitalization expenses. They also provide an addition daily hospital expenses cover. The available sum insured ranges from Rs.3 lakh to Rs.25 lakh. Anyone within the age group of 18-80 years can avail this policy.

5. Niva Bupa Personal Accident Insurance Plan

• 100% sum insured is payable in case of permanent partial disability
• Covers funeral expenses up to Rs. 5,000
• Claims are directly processed and cleared by the customer service team

6. Care Personal Accident Insurance

Care Insurance policy is widely known and directly addresses every problem that arises after accidents and injuries. It includes:
• Coverage for expenses for a personal nurse if needed in case of injuries
• Coverage for mobility and prosthetic devices like artificial arms, legs, or medical equipment like a wheelchair
• Loyalty benefits available for subsequent renewal dates

Accidents are unpredictable and can cause a dent in savings based on their severity. By choosing a suitable personal accident plan in advance one can safeguard their savings without having to compromise on the treatment. Having a personal accident plan in place will save you from any last-minute financial ordeal caused by expensive hospital bills.

Know more about personal accident insurance and enquire about the available options from Bajaj Finance.

Disclaimer - *Conditions apply. This product is offered under the Group Insurance scheme wherein Bajaj Finance Limited is the Master policyholder. The insurance coverage is provided by our partner Insurance Company. Bajaj Finance Limited does not underwrite the risk. IRDAI Corporate Agency Registration Number CA0101. The above mentioned benefits and premium amount are subject to various factors such as age of insured, lifestyle habits, health, etc (if applicable). BFL does NOT hold any responsibility for the issuance, quality, serviceability, maintenance and any claims post sale. This product provides insurance coverage. Purchase of this product is purely voluntary in nature. BFL does not compel any of its customers to mandatorily purchase any third party products.”

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