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.
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?
How to Take this Policy?
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.
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.