All About Personal Accident Insurance Policies In India

Personal accident insurance policy is not something a lot of people have, but they should. The personal accident insurance policy will cover the person insured if they die accidentally, are accidentally disabled and much more. There are a few top places to buy the insurance policies, but one should research them first.

One of these accident insurance policies India can help you if you are hospitalized or the injuries after an accident. These policies don't help you when you are alive, but if you die or you are disabled, then they might just become your lifeline. This insurance policy might seem like a waste of money, but one never knows when you will be injured and how your family will survive. They are also sometimes called occupational accident insurance policy.

Most of these plans including the SBI accident insurance policy are relatively inexpensive to purchase and can be around Rs 800 up to Rs 1,5000 annually. The cost is directly dependent on the company you choose as well as the benefits that are offered.

There are many different things that these policies give you including a lump sum in case of an accidental death. If you lose your hands, feet, an eye, speech, or hearing you would be considered disabled and you would also be entitled to a lump sum determined by the policy. However, if you become partially disabled you would receive a certain percentage of the sum for a limited period of time.

There are some things that are not included in the policies even from hdfc accident insurance, which includes injuring yourself or suicide, any injuries while using drugs or liquor, any criminal activity, and those who have dangerous jobs. These people with the dangerous jobs are pilots and crew of airlines and the military personnel.

There are many top policies that will allow you to purchase any amount of insurance from 1 lakh to 1 crore. The amount of this insurance determines the policies and most start around Rs 1200 and top off at around Rs 1500 for a 10 lakh sum, while for 20 lakhs it starts at Rs 1250 and stops at around Rs 3000.

Some of the companies also have a minimum age to sign up for the policies and some start from 5 years, but most start around 18 years and allow you to purchase until you are between 65 and 70 years old. The companies mostly pay 100% of the sum for permanent and partial disability while others can pay 200%. They also cover some of the medical expenses because of the accident and most cover between 10-20% of the sum.

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