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A Personal Accident policy provides insurance cover against the following perils with an option available with the insured to take cover for either or all of the risks:
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Transportation related accident (rail, road, sea & air)
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Accidental fall due to slipping/ collision
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Accidental burn injuries, drowning, poisoning
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Snake bite, dog bite, frost bite
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Injuries sustained in a or during any other sporting event playground
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Accidental injuries sustained while undertaking trekking, mountaineering or any adventure sports
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Accidental injuries sustained in the construction sites, offices.
The policy provides for a table comprising 6 classes of benefits categorised under three heads that are death, permanent disablement and temporary disablement. An individual has the option of taking cover for either of the following combination of benefits:
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Death Only
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Death & Permanent Disablement
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Death, Permanent Disablement & Temporary Total Disablement
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Death & Permanent Total Disablement
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The Capital sum insured represents the maximum amount of monetary benefit the insured can have under the policy. The sum insured is fixed on the basis of certain criteria
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Benefit no.1 only: Maximum 120 months salary/ income of the insured.
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Benefit no.1 to 6: Maximum 60 months salary/ income of the insured.
The percentages of benefits for the permanent disablement of various parts of the body have been fixed based on the utility of that particular part of the body.
"Temporary Disablement" means the period for which the insured is unable to attend to his normal duties and is confined to bed on a medical practitioner's advice as a direct result of accidental injuries sustained on account of physical, violent means.
Compensation Payable:
Compensation is payable to the extent of 1 percent of the capital sum insured subject to a maximum of Rs.5000/- per week up to a maximum period of 104 weeks or the capital sum insured whichever is less.