Why road safety week is the right time to draw attention to personal accident insurance?

India set to celebrate road safety week, buy personal accident insurance, do your bit.
 How it is different from health insurance? What are the benefits of personal accident insurance? What are the exclusions in personal accident insurance?
India is all set and prepared for celebrating Road Safety Week in coming few days starting 11th Jan. Government authorities, various NGOs, volunteers and media are all gearing up to play their role in spreading awareness about road safety. While driving safe, maintaining your vehicle, following traffic rules and good roads remain the top priority topics, I would like to draw your attention to an equally important topic. And the topic is risk preparedness for the whatifs, what if after following  all rules, my vehicle bumps into a road divider and I get crashed with my vehicle? By default, my motor insurance may bear/reimburse majority of expenses of the vehicle, what happens to me? If I lose my limbs?. The health insurance may pay up the total medical expenses, but what happens after that? If can’t walk on my feet ever? If I can’t go back to my office-job? Who will take care of me and my family?  my term insurance may not have additonal feature.
Personal accident insurance is an answer to these whatifs. The statistics show that several thousand road accidents occur every year in major states – Uttar Pradesh, Maharastra on the top position. These road accidents lead to horrifying deaths, permanent disabilities, temporary disabilities and injuries which causes long time to heal. 
To address this issue, insurance company often bundle personal accident insurance with life or health insurance products for a small additional premium besides the stand alone policies. 
Personal accident insurance, unlike a health insurance, also have features which pay up a lumpsum amount to the policy holder/kin on death/major health set backs apart from cost of medical expenditure. The benefits depends on the plans chosen from different companies. The premium of personal accident insurance depends on coverage amount, risk profile of the person and the benefits covered in the policy. I have severed to Royal sundaram, HDFC Ergo and Bajaj Allianz GIC. I am not doing a product comparison in this pist, just listing down what all benefits can be availed, not specifying under each insurance company.
General features
1. It mostly covers accidents worldwide
2. It can be taken for individual/family of upto 4 person together, self, spouse and minor children
3. The entry age eligibility is upto 65 years
4. The protection cover come from 2 lakh to 2 crore 
5. It offers assistance in hospitalization, medical treatment, hospital cash and percentage of sum assured depending on the type of injury affecting body parts
6. Depending upon the contract, personal accident insurance covers accidents on roads, air travel, railway, accidents abroad and also injuries caused by accidents in home or work place. One must look at the policy details carefully to chose the best suitable or comprehensive plan.
Additional Benefits

1. It may also cover education for children upto a specific limit
2. Employment benefits
3. Legal expenses
4. Cumulative bonus per unclaimed year upto a certain persentage
How to claim the sum insured for personal accident? 
1. Incase of death of the policy holder, the nominee needs to fill up the clain form immediately or as soon possible, as per the guidelines of the insurance company with police Panchanama, FIR, Post mortem Report, Death Certificate and hospitalization and treatment history if applicable. 
2. Incase of PTD (Permanent Total Disability) & PPD (Permanent Partial Disability, Claim form needs to be furnished with disability Certificate from the treating doctor and their may be a medical examination done by insurance company
3. For claiming insurance on account of Temporary Total Disablement, Claim form must be submitted with medical Certificate from the treating doctor and leave certificate from the employer
4. After verification, claims team would assess the claim for completeness of documentation process. Insured may be sent a written communication in case there is a requirement of documents as per the insurance agreement. 
If the conditioned are fulfilled, insurance company raise a pay order and discharge voucher 

1. Injuries during war, neuclear radiation
2. Injuries related to professional or hazardous sports 
3. Self inflicting injuries and suicide
5. Family discount
Personal accident insurance comes in many form and offered by many entities including some of the leading banks on their debit/credit card. It is an important tool to minimize the impact by U uncertainties of life. Choose it wisely. Compare between the plans, also consider comparing with the health insurance and mediclaim plan to make a informed decisions. 
Lead a happy healthy and safe life  😊
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