A Personal Accident Insurance Plan provides financial protection against accidental death, permanent disability, partial disability, and accident-related hospitalization expenses. It acts as an additional safety net beyond health and life insurance.
Personal accident insurance usually pays a fixed lump-sum benefit directly to the insured or nominee, unlike health insurance that mainly reimburses hospital bills.
Provides 100% sum insured payout to the nominee in case of accidental death.
Covers major disabilities such as loss of limbs, eyesight, or permanent inability to work.
Provides partial compensation depending on injury severity.
Weekly income benefit if the insured is temporarily unable to work after an accident.
Many plans include ambulance charges, accident hospitalization, and rehabilitation support.
Experts often recommend accident coverage of around:
Recommended Accident Cover≈10×Annual Income
