Accident Insurance | Excellent Policy in Just 60 Rupees

It has become daily news to see in the news papers about road accidents every day. When these types of unexpected situation arise, the challenges to be met out and money related economical problems are quite a big which is a real pain. The only solution for this is to have an individual accident insurance policy.

Accident Coverage and Insurance Policy

Personal Accident Insurance Policy

How far this policy will be beneficial? Who all can avail this policy? What are the procedures to be followed while claiming? What can be the maximum limit of taking this policy? How much is the premium and all other details are given elaborately for your better life saving decision.

A Must Policy

Right from a person who knows to drive a two-wheeler or not till the one who drives a car needs this individual accident insurance policy as a must. The main motto of this policy is to balance the money crisis caused due to accidents. Anyone from 18 to 70 years old can take this policy.

Who can avail this Policy?

  • A company can take this policy for them employees
  • A husband can take this policy for his wife and children. Likewise, a wife can take this policy for her husband and kids.
  • Children can take this policy for their parents but parents can take this policy only for their children who are dependent on their parents. Children who have started to earn can only take individual policy for themselves.

    How to Take this Policy?

  • Whoever wants to take this policy can walk to the nearest general insurance company and fill in all the true details in the “Proposal Form” given there to you and submit it.
  • A maximum of 60 times from your salary will be as policy coverage. Based on your wish and need you can avail this policy at any level.
  • Based on the policy holder’s salary, the available insurance amount will differ.
  • For Rs. 1 lakh insurance, the annual premium is just Rs. 60. An individual can take an insurance policy for a minimum of about Rs. 2,500 and for this the annual premium is Rs. 15 only.
  • Premiums should be paid as cheques or as cash in person at the appropriate office from where you have taken the policy. In the near future, the online payment facility will be available to pay your premium for accident insurance.
  • This insurance policy can be taken from 1 year up to 5 years. The premium will be reduced if you pay at once for more number of years.

    What does this Policy Cover?

    Insurance will be available in case of death in an accident. While walking on the road and hit by a vehicle which leads to death will also be covered. While at home and death occurs due to building collapse is also covered under this policy. Other than death, this policy covers any physical loss (due to accident) appropriate to the loss. In case of inability to go to work due to accident will also be covered through a minimum amount on a monthly basis.

    Which areas this Policy doesn’t Cover?

    Natural death is not considered for coverage under this individual accident insurance policy. Other than that suicide, voluntary harm or wounds to your organs or body, death due to murder, death by accident while you are drunk, death during labour (delivery), death during pregnancy are not covered by this policy.

    Claiming Procedures

  • During the time of claiming, you’ll have to fill in the details asked on the claiming form. Don’t try to give any false information expecting high coverage.
  • If the policy holder meets with an accident or happens to die by accident, the relatives must inform it to the office where the policy was taken.
  • While claiming, along with the claiming form the other documents to be included are medical certificate approving the physical inability, police certificate, treatment records, if there is any permanent disability relevant documents need to be attached too. These documents are to be submitted to the office where the policy was taken. Along with these, leave certificate from your office or company has to be enclosed.
  • If claiming upon death due to accident – the records necessary are the postmortem report and police report have to be submitted.
  • Personnel from insurance company will be coming to the given address for verification of the produced documents. No claim amount will be given if any false statement found on the claim form. So, be sure to fill up only the fact.

    Any facilities available?

    After one year, if the policy is renewed within 30 days you will be provided with a bonus of 5% in the next year’s insurance amount. Similarly, if it is renewed the second next year within 30 days a bonus of 10% will be provided and this bonus percentage adds up every year by 5% up to 50%.

    This individual accident insurance policy is mandatory for everyone who travels even a kilometer distance on road or even if not so. Since the coverage terms are beneficial it is advisable to have a policy if you have not got one till now.

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