United India Personal Accident Policy

Objective

This is a personal accident policy that aims to provide for any physical injury or death caused by an accident.

Suited for

Anyone between 12 and 70 years of age can buy this policy. A 70 year old can also take this policy till 80 years subject to medical examination.

What does it do?

It is a simple policy covering death. The policy gives a choice to cover permanent disablement too. The benefits are classified under three tables. Table 1 is the most basic variant that covers accidental death of the insured. Table 2 covers permanent total disablement and death of insured and Table 3  covers permanent partial disablement in addition to risks covered under Table 2.
Premium rates will depend on risk involved in securing the life. Premium will be higher for those performing risky jobs. The policy will also pay education fund for continuation of deceased's children’s education and transportation charges for carrying the insured member from site of accident. Medical expenses can also be covered by paying an additional premium.

Pros

The policy offers a higher term and gives an option to cover medical expenses.
It pays education fund for deceased's children.
Annual no-claim bonus increases sum insured without charging extra premium. There is an option to cover spouse under the same policy.

Cons

There is no tax benefit.

Our View

This is a cost effective plan offering good coverage. We recommend this policy.
You should evaluate your insurance need before buying a health insurance policy. For instance, you may have a basic health policy that covers hospitalisation expenses, hence you may not need to buy additional medical expense benefit offered under this policy.