What is Personal Accident Insurance?

Personal Accident insurance is an annual policy which provides compensation in the event of injuries, disability or death caused solely by violent, accidental, external and visible events. It is different from life insurance and medical & health insurance.

As per a recent report, Indian roads were responsible for 1.46 lakh deaths in the year 2015. This translates to a massive 400 deaths a day and is being dubbed as ‘Daily massacre’ by the media. So these figures are just a reflection of the vulnerability of the Indian citizens to accidents. There is a fair penetration of insurance tools such as Health insurance and Life Insurance. What happens when an accident leads to a permanent or temporary disability? No Life Insurance or Health Insurance policy will be able to bear the financial burden in such a situation. This is where a Personal Accident policy comes into the picture.

You can either take a PA policy for yourself or a group policy for your family, protect you and them anywhere in the world, any time of the day. PA insurance provides 24-hour worldwide insurance protection.

The scope of cover and scale of benefits differ between insurance companies and you should, therefore, ensure that you purchase a policy which meets your requirements.