Objective

The objective of this personal accident policy is to cover against accidental death, permanent and temporary disability and other related expenses.

Suited for

This policy can be bought as an individual policy or a family cover.

What does it do?

This is a standalone personal accident policy that pays the sum assured in the event of death of insured member. Apart from death, it offers disability benefit that pays a percentage of sum insured depending on nature of disability caused due to an accident. The policy also offers to cover accidental hospitalisation expenses on payment of extra premium.
The premium to be paid will depend on the risk on individual's life. There are three risk classes Normal, Medium and Heavy risk classified on the basis of nature of occupation performed by the person. Heavy risk life has to pay the highest premium.

Pros

The policy allows to cover accidental medical expenses as well.
Education fund allowed by the policy helps in continuation of the children education on demise of their parent.

Our View

This is a complete personal accident policy and is recommended. Accidental medical expenses cover is useful only if you are not covered under a basic health insurance policy. However, a basic health insurance policy is essential and personal accident policy acts as an add on to widen the overall insurance cover.

Eligibility

Entry Age (years)

Minimum

5

Maximum

70

Maximum Policy Renewal Age (years)

70

Coverage Type

Individual/ Family

Policy Term (years)

1

Sum Insured (Rs)

Maximum

72 months gross pay or Rs.1000000 whichever is less

Discount

Family discount of 10% if family members are insured on an individual basis under the same policy. Family discount is available for a maximum of 6 persons only

No Claim Bonus

5% no claim bonus for every claim free renewal till it reaches 50% of initial sum insured

Customer Service

Address

Head Office: National Insurance Company Limited
3 Middleton Street
Kolkata
WestBengal
Pincode : 700071

Mail to

website.administrator@nic.co.in

Call to

1800 419 4033

Scope Of Cover

Death benefit

pays 100% of sum assured

Loss of two limbs, two eyes or one limb and one eye

pays 100% of sum insured

Loss of one limb or one eye

pays 50% of sum insured

Permanent total disablement

pays 100% of sum insured

Permanent partial disablement

pays a certain percentage of sum insured as stated in the policy document

Temporary total disablement

pays 1% of sum insured per week upto maximum of 104 weeks. Weekly benefit not to exceed Rs 5000

Dead body transportation

reimburses upto 2% of sum insured subject to maximum of Rs 1000

Education fund (for maximum of 2 children)

10% of sum insured per child subject to maximum of Rs 5000 per child

Additional benefits (require extra premium)

Accidental medical expenses

reimburses lower of 10% of sum insured or 40% of admissible expenses arising directly out of an accident

Exclusions and Waiting Period

Pre existing illnesses or disability

not covered