National Insurance Personal Accident Policy
The objective of this personal accident policy is to cover against accidental death, permanent and temporary disability and other related expenses.
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.
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.
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.
|Entry Age (years)|
|Maximum Policy Renewal Age (years)||70|
|Coverage Type||Individual/ Family|
|Sum Insured (Rs)|
|Maximum||72 months gross pay or Rs.1000000 whichever is less|
|Policy Term (years)||1|
|Discount||Family 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 Bonus||5% no claim bonus for every claim free renewal till it reaches 50% of initial sum insured|
|Address||Head Office: National Insurance Company Limited|
3 Middleton Street
Pincode : 700071
|Mail to||[email protected]|
|Call to||1800 419 4033|
Additions to the Plan
|Scope Of Cover|
|Death benefit||pays 100% of sum assured|
|Loss of two limbs, two eyes or one limb and one eye||pays 100% of sum insured|
|Loss of one limb or one eye||pays 50% of sum insured|
|Permanent total disablement||pays 100% of sum insured|
|Permanent partial disablement||pays a certain percentage of sum insured as stated in the policy document|
|Temporary total disablement||pays 1% of sum insured per week upto maximum of 104 weeks. Weekly benefit not to exceed Rs 5000|
|Dead body transportation||reimburses 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 expenses||reimburses 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 disability||not covered|
|Annual Premium per Rs 1000 Sum Insured|
|Normal risk||Medium risk||Heavy risk|
|Death benefit only||0.4||0.6||0.9|
|Death benefit, Loss of two limbs, two eyes or one limb and one eye, Loss of one limb or one eye and Permanent total disablement||0.45||0.65||1.5|
|All benefits mentioned above and Permanent partial disablement||0.9||1.25||1.9|
|All benefits mentioned above and Temporary total disablement||1.5||2||3|
|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.|