Believing the records, around 2 lakh people in India die in road accidents each year. And the number of people dying in other kinds of accidents is also quite high. However, not all accidents lead to death. Some of them leave people paralyzed, severely injured and even disabled. Some of the injuries are temporary while the others are permanent. To get back in the right shape, one has to seek treatment; thus, have to be hospitalized and even undergo surgeries. As a whole, this needs quite a lot of money. Bearing the expenses can sometimes be not possible for the families as the other responsibilities also need to be taken care of. This is the kind of situation in which accident health insurance plays a vital role.
How does accident insurance help?
An accident health insurance which is also called personal accident insurance by many people provides financial support to the policyholder who met with an accident. Once you have accident insurance and you meet with a mishap, the insurance provider will pay for the death, injuries that are the result of the accident, and complete or partial disabilities that have been caused because of accidents.
The various types of accident insurance
Accident insurance plans are available in basically two types, individuals and groups. Let us discuss both of them:
Individual accident insurance
This is one of the types of accident insurance that has been designed to provide coverage to individuals. The coverage is provided towards loss of sight, loss of limbs, death, permanent disability which is the result of an accident.
Group accident insurance
This is the other type of accident insurance that provides coverage to a group of people. This is mostly opted by organizations who want to secure their employees. In this type of insurance, all the members of the organization are insured under a single policy. This is a good option for the organizations as it comes at a lower cost and provides coverage to a larger number of people.
Best accident health insurance policies in India
Mentioned herein below are some of the accident insurance policies that you can very easily come across in India.
Aditya Birla Personal Activ Secure- Personal Accident
This is one of the best accident insurance plans that come with extra benefits. You can buy this policy at the most affordable price. Things that you can expect from this plan include:
- The policy provides coverage of repair of the vehicle or residence, whichever is included in the policy
- For each claim-free year, you will get a 5% Cumulative Bonus
- For faster recovery, you will be able to hire a personal coach.
Bajaj Allianz Personal Guard Plan
The Personal Guard Plan offered by Bajaj Allianz provides coverage against all kinds of odds. This enables a facility of the premium personal guard that can be of great help for your family. Here are the benefits that you can get from this policy:
- A compensation of 125% of the sum is offered to the policyholder in case of total permanent disability
- If the policyholder passes away, the bonus of the child’s education policy is covered
- In case of injuries in an accident, the medical costs are covered.
HDFC Ergo Personal Accident Insurance Plan
This plan is flexible and offers a lump-sum amount that can be used in one accidental medical expenditure. The benefits that you can expect from this policy are mentioned herein below:
- If the policyholder faces any financial crisis during the treatment, he/she can avail of the cash allowance facility
- The policy covers the ambulance costs or transportation facility
- Policy buyers within the age range of 18-65 years can purchase the policy.
Max Bupa Personal Accident Insurance Plan
You can get the best accident insurance plan from Max Bupa. The benefits that are provided by Max Bupa Personal Accident Insurance Plan include:
- The policy provides coverage from permanent partial disability and also offers 100% sum insured
- In case of death, the policy provides coverage for funeral costs which can be up to INR 5000
- You do not need to deal with a third-party agent to buy this plan or to claim the benefits. The claims will be processed as well as cleared by the customer service team of the company.
To know more about these kinds of insurance policies, you can visit the website of IIFL today. You can also check the premium amount that you would be required to pay for the policy.
