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National Insurance Personal Accident Policy

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) 
Minimum5
Maximum70
Maximum Policy Renewal Age (years)70
Coverage TypeIndividual/ Family
Sum Insured (Rs) 
Maximum72 months gross pay or Rs.1000000 whichever is less
Policy Term (years)1
DiscountFamily 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 Bonus5% no claim bonus for every claim free renewal till it reaches 50% of initial sum insured
Customer Service 
AddressHead Office: National Insurance Company Limited
3 Middleton Street
Kolkata
WestBengal
Pincode : 700071
Mail to[email protected]
Call to1800 419 4033
Additions to the Plan
Scope Of Cover
Death benefitpays 100% of sum assured
Loss of two limbs, two eyes or one limb and one eyepays 100% of sum insured
Loss of one limb or one eyepays 50% of sum insured
Permanent total disablementpays 100% of sum insured
Permanent partial disablementpays a certain percentage of sum insured as stated in the policy document
Temporary total disablementpays 1% of sum insured per week upto maximum of 104 weeks. Weekly benefit not to exceed Rs 5000
Dead body transportationreimburses 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 expensesreimburses 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 disabilitynot covered
Annual Premium per Rs 1000 Sum Insured
Risk Class*
Normal riskMedium riskHeavy risk
Death benefit only0.40.60.9
Death benefit, Loss of two limbs, two eyes or one limb and one eye, Loss of one limb or one eye and Permanent total disablement0.450.651.5
All benefits mentioned above and Permanent partial disablement0.91.251.9
All benefits mentioned above and Temporary total disablement1.523
Various risk classes*
Normal Risk:Bureaucrats, Doctors, Lawyers, Accountants, Architects, Bankers, Consulting Engineers, Teachers, Persons engaged in administrative functions, persons primarily engaged in occupations of similar hazard.
Medium Risk:Builders, Contractors, Engineers engaged in superintending functions only, Veterinary Doctors, Paid Drivers and Persons engaged in occupations of similar hazard and not engaged in manual labor. All persons engaged in manual labor (except those falling under heavy risk), cash carrying employees, Garage and Motor Mechanics, Machine Operators, Drivers of Heavy Vehicles, Professional Athletes and Sportsmen and Wood working Machinist and persons engaged in any occupations of similar hazard.
Heavy Risk:Persons working in underground Mines, Explosive, Magazines, Workers involved in electrical installation with High-tension supply, jockeys, Circus personal, persons engaged in activities like racing on wheels or Horse back, big game hunting, Mountaineering, Winter Sports, Skiing Ice Skating, Ballooning, Hang gliding, River Rafting, Polo playing and persons engaged in occupations/activities of similar hazards.

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