Personal Accident Insurance Policy Overview

Unfortunate occurrences can come about devoid of any warning. While you are taking pleasure in every moment of your life, something unexpected might happen and blow apart everything in a fraction of second. As a result, your contentment gets disturbed and you are left with financial burden and suffering.

Such is the impact of an accident; it might lead to severe injury, disability or death. It can also end up absorbing your lifelong savings and create insufficiency in finances. In order to secure your family’s day to day life routine in your nonattendance; it’s indispensable to get a Personal Accident Insurance in India.

There are a number of personal accident insurance providers in India from where you can buy these policies to make sure your financial stability in the event of an ill-fated accident. Personal accident insurance policies are specifically designed to provide you with financial assistance to you and your family so you can deal with the aftermath of accident i.e. severe injuries, bodily burns and death etc. Apart from the structure itself, a decent home insurance policy online can provide security to the implements /items/Personal Accident (PA) policy basically provides financial security in such cases when you need it the most. Not only this, nowadays you can buy personal accident insurance online and you can also choose to extend the coverage to your family members under a single personal accident insurance plan.

Personal Accident Insurance Coverage

• Personal accident insurance should be given just as much importance as term insurance or health insurance policy. It shields you against accidental death and disability. Since accidents happen every day regardless of all the precautions you take, personal accident insurance is a necessity for securing the lives of your dependants or your own.

• The best PA policy in India offers wide coverage against loss of life, disablement, loss of limbs etc. resulting from general accidents related to travel or work. Personal accident insurance is a must for all those willing to build a strong financial wall against all possible eventualities that may occur in day to day lives

• The key to avail the best personal accident policy in India is to compare the offered plans with different insurers. Personal accident insurance usually provides financial protections for the following unforeseen eventualities.

• Accidental Death: If the personal accident insurance policyholder, unfortunately, meets an accident that results in his demise, the dependants or the nominees of the policyholder will be provided financial security by the personal accident insurance company in India. It’s advisable that you compare personal accident policy to avail the best.

• Permanent Total Disablement: Best personal accident policy in India provides payout benefits in case the insured person is rendered totally disabled in a permanent way and when he/she is out of the medicine’s ability to heal.

• Permanent Partial Disablement: If the policyholder of personal accident insurance is rendered partially disabled in a permanent way, he/she will be entitled to receive payout benefits as per the insurer’s guidelines. Permanent partial disablement is defined differently by different personal accident insurance companies in India. It is advisable to compare personal accident policy before buying.
• Temporary Total Disablement: Some personal accident insurance plans offer coverage against temporary total disablement. If the personal accident insurance policyholder is rendered totally disabled even for a temporary period due to an accident, he/she will be entitled to receive a payout benefit.
• Temporary Partial Disablement: Temporary partial disablement is covered by a few personal accident insurance policies in India. If the policyholder of personal accident insurance is rendered temporarily incapable of earning from productive work due to an accident, he/she will be eligible for a payout benefit by the best personal accident policy plan in India to support his/her income.
• Dismemberment: Many personal accident insurance policies offer benefit payouts against the dismemberment of any sort resulting from accident be it in work or in transit. Best personal accident policy in India has a predefined percentage of the Sum Insured that will be paid to the personal accident insurance policyholder who loses arms, legs, toes, eyes, fingers etc. due to an accident.
• Burns: This is an optional extra coverage provided by most personal accident insurance companies in India against the policyholder’s possible death due to burns from chemicals, fires, etc.

Anyone below the age of 65 years is eligible to go for personal accident coverage. It is suggested that you compare personal accident policy before opting for personal accident insurance in India. Benefits and coverage may vary from one insurer to another; hence it is important to compare personal accident policy.

Benefits of Personal Accident Insurance Policy

Pause for a moment to think, what will happen to your dependent if you become permanently disabled because of a mishap (hit by a motor vehicle)? There would be no monthly or annual earnings but bank EMIs, medicinal costs, and other expenditure will keep increasing. To deal with such a situation, it is important to purchase such a policy with all mandatory disclosures read carefully. To give you a better understanding, we have listed the top advantages of having personal accident insurance:

• Substantial cover offered at a lower-priced premium.
• Family security.
• Worldwide coverage.
• Can be bought individually or for the entire family.
• Easy and certified claim process.
• Highly customized plans available.
• Covers legal and funeral expenses.
• Double indemnity for demise/ impairment while traveling in public transport.
• No requirement of medical tests and documentation.

Importance of Personal Accident Insurance Plan in India

Given that you can’t predict an accident, you can, however, buy personal accident insurance policy online to protect yourself from the financial problems resulting from an unforeseen accident. An accident can devour a lot of your lifelong savings; hence you must consider buying Personal accident insurance policy online. It is suggested that you compare personal accident insurance policy to choose the best personal accident insurance plan online as per your requirements.

• Basic Personal accident insurance policy online will cover you against both death and disability. It’s not the end; you can further enhance your cover in order to avail extended protection when you buy Personal accident insurance policy online.
• You don’t have to worry about the coverage when you buy the best personal accident insurance plan online. You know why? The Personal accident insurance policy online covers almost all sort of accidents, be it minor or major, like falling down from your bicycle to getting hit by a car.
• The premium of Personal accident insurance policy online is considerably low, though it is subject to the kind of occupation you hold. You can compare personal accident insurance policy online to see for yourself. You can avail higher coverage by paying a minimum premium when you buy PA policy online.
• The claim process for Personal accident insurance policy online is very easy and simple. Personal accident insurance policy online does not require you to take any medical tests in order to prove your injury when filing your claim. You just have to inform your Personal accident insurance policy online provider within a specific time frame and submit your contact details, personal accident online policy number, date, time, location of the accident etc. However, you must note that your family members should also be aware of the details regarding your personal accident online policy in case of your death.
• You can avail some cash benefits due to temporary disablement when you buy online person accident plans. In such cases where you can no longer work due to a broken arm, you will be provided with cash benefits to support your financial conditions when you have the best personal accident insurance plan online.

How to Buy Personal Accident Insurance Online?

• You can buy these policies from any personal accident insurance company in India. Make sure you only go for the best personal accident insurance company. The coolest way to buy the best personal accident insurance policy online is to compare personal accident insurance policy. Unlike health and life insurance, income and age aren’t big factors when you buy personal accident insurance policy online.
• You must consider the aforementioned importance of having a personal accident insurance policy online and buy the best personal accident insurance plan in India as soon as possible to safeguard yourself or your dependants from any unfortunate accidents. You can avail personal accident insurance quotes online by visiting your insurer’s or any other insurance broking portal in India such as GIBL.

Personal Accident Insurance Renewal

Personal accident insurance renewal has the same amount of importance as purchasing one. In order to renew your policy, all you will have to do is just visit your insurer’s website or any trusted insurance broking portal like GIBL and enter your personal accident policy number and thereafter make the payment on your policy online and that’s it you will be done with the renewal of your personal accident insurance policy.

How to File Personal Accident Claim?

The claim process initiation requires one to inform the insurance provider about the event within a specified time frame. Thereafter, you might be provided with a claim reference number. The following information is required to be submitted to the insurer while filing your claim-

• Your policy number.
• Your contact numbers.
• Date and time of the accident.
• Name and contact details of the insured person who is injured
• Location of the incident
• Brief description of how the accident/ loss took place with its location details.
• Extent of loss.

How Can GIBL Help You With the Home Insurance Online?

It is necessary that these details are known to the family members or dependents (including spouse) also as an unexpected event such as demise may put them in situations where they are unaware of what to do next. In the event of Accidental death/disablement claim, the documents that are required to be submitted are below:

• Death certificate.
• FIR report.
• Medical certificate.
• Medicine receipts