Accidents can significantly impact your savings if you do not have financial security. A personal accident insurance policy saves you from the unexpected financial burden. The policy enables you to get the best treatment without worrying about funds availability. Having a personal accident policy also ensures that your savings remain intact.
What is personal accident insurance?
Personal accident insurance policies provide complete financial coverage to policyholders. You get coverage for accidental death, bodily injuries, and physical disabilities (temporary and permanent). In case of the insured’s death, the nominee gets 100% compensation.
Features of personal accident insurance policy
Here are the salient features of a personal accident insurance policy:
Features |
Specifications |
Premiums starts |
Rs. 1,469* |
Cashless network hospitals |
10,000+ |
Medical coverage |
Covered |
Hospitalisation coverage |
Covered |
Tax benefits |
Covered |
Ambulance coverage |
Covered |
Get coverage for medical expenses and hospitalisation charges
- Nominee gets full compensation in case of accidental death
- Policyholders can make cashless or reimbursement claims
- Tax benefits available on the premiums paid
- Get a children's education bonus along with a personal accident insurance
- Get up to 125% compensation in case of permanent total disability
Benefits of personal accident insurance policy
The benefits of opting for a personal accident cover are as follows:
- Provides financial coverage against treatment taken for injuries caused by an accident, helping you to keep your savings intact.
- Offers accidental death cover to ensure your family members stay financially secure.
- Covers the medical bills for the treatment of an injury.
- Provides a daily cash allowance of Rs. 1,000 up to 30 days during hospitalisation.
- Covers education fees and medical expenses of dependent children.
- Insured’s dependent children (below 19 years old) get the compensation amount if the insured suffers permanent disability or death.
- Policyholders receive up to 125% of the policy sum insured in case of permanent disability.
- Get a cumulative bonus starting from 10% and up to 50% for every claim-free year.
- Get claims settled within seven working days after meeting all formalities.
What are the types of personal accident insurance policies?
There are two types of accident insurance policies:
· Individual accident insurance
Also known as personal accident insurance, covers only one person. The insured gets coverage in case of death or disability caused due to an accident. Covers loss of limbs or sight or any permanent disabilities.
· Group accident insurance
Employers offer group accident insurance to their employees. This type of accident insurance covers a group of people like workers, members of an organisation, or employees. You get coverage for accidental death or disability.
Why choose personal accident insurance from Bajaj Finance?
Despite being careful and taking all the necessary precautions, accidents can happen at any time. Hence, personal accident coverage becomes essential for everyone. Bajaj Finance partners with leading insurers to offer a variety of health insurance plans with extensive coverage and affordable premiums. The following are the reasons to opt for a personal accident insurance policy from Bajaj Finance:
- Family’s financial security
- Wide range of coverage at affordable premiums
- No documents or medical tests required
- Simple and prompt claim process
- Reliable plans for family and policyholder
- Customisable plans