Was this article helpful? 0 0 By Pk Achuthan Menon 
In our day to day life, we are exposed to various kinds of accidents. Death or Bodily Injury is a major risk we face all the time.
Almost all non-life insurance companies in the world have designed Insurance policies to protect an individual against financial loss (compensation) resulting from his being incapacitated by accident or illness.
How accidents occur?
An accident may take place:
-While walking, running, jumping, playing, climbing a tree, boarding a bus, crossing the road or railway tracks, driving a vehicle, climbing up or down stair cases or ladder, while traveling in a vehicle, aero-plane, ship etc
-While traveling in a train
-Slipping / falling from the mountain terrain
-Biting by Insects, Snakes, Wild animals
-Removal of breast resulting from incurable disease including Cancer
-Racing on wheels, big game hunting, mountaineering whilst engaged in winter sports, skiing, and ice hockey
-Murder
Personal Accident Policy covers
Personal Accident policy pays a certain amount (sum insured) to the insured's legal heirs or beneficiary if he / she is killed in an accident. In the event of injury from such accident, the insured receives a certain amount as compensation for permanent disability, like the loss of an arm, leg, or eye etc.
Worldwide coverage
The policy can be taken by an Individual and can also include spouse & children. Cover provided is worldwide means although the policy is taken in one country; any accident unfortunately met with by the insured anywhere in the world is covered.
Sum Insured
Sum Insured in a is fixed on the Annual Income of the insured person.
Premium
Premium is calculated according to the occupation of the insured. Lighter the work carried out, lower the premium whereas heavy work attracts higher premium.
Additional Risks can be purchased by paying extra premium
Carriage of dead body from the place of accident (any country) to place of residence
Education Fund for Dependent Children in case of Insured's death or becoming Permanently Disabled due to Accident
Medical expenses incurred in the hospital due to accident
Cumulative Bonus
Personal Accident Policy grants Bonus on its renewal if no claim was reported during the previous policy period.
Family Package Discount
If the insured opts to include spouse and/or children in the Policy, Family Package Cover discount is permissible.
What are the risks not covered in the Policy?
There are certain expenses in the which are not payable and they are:
If Death or Injury or Disablement is due to:
Intentional self injury, suicide or attempted suicide Under the influence of intoxicating liquor or drugs Directly or indirectly due to venereal diseases Insured committing any breach of law with criminal intent Resulting directly or indirectly from child birth or pregnancy
ليست هناك تعليقات:
إرسال تعليق