Insurance is still a highly debated topic in India as an insurance policy doesn’t generally pay anything at the end of the tenure if no claims are made. However, if the exigencies are taken into consideration, it is not very difficult to see that with a proper insurance policy in place one can definitely protect their savings from getting damaged.
Accident insurance policies in India offer accidental death benefit, accidental partial or total disability as well as many other expenses in terms of transporting the patient, hospitalization, etc. While term plans and health insurances also offer hospitalization expenses, they generally require you to buy an additional rider for accidental death and disability.
Moreover, the riders are generally not as comprehensive as the benefits offered by an accident and disability insurance.
List of 10 Best Accident and Disability Insurance India 2017
If you are looking for an accident and disability insurance in India, we have created a list of 10 of the top ones to help you quickly select the best.
10. New India Personal Accident Policy
The Personal Accident Policy from New India covers accidental death and permanent total disablement up to 100% of the sum assured and up to 50% of the sum assured in case of permanent partial disablement. It also covers temporary partial disability up to 1% of the sum assured per week for up to 100 weeks.
9. ICICI Lombard Personal Protect
Personal Protect from ICICI Lombard is an affordable accident and disability insurance; however, it only covers accidental death and permanent total disability. It does not cover any permanent or temporary partial disability. You can opt for additional accidental hospitalization expenses reimbursement and accidental hospital daily allowance.
8. HDFC Ergo Personal Accident Insurance
Just like ICICI Lombard’s policy, the Personal Accident Insurance offered by HDFC Ergo also only covers accidental death and permanent total disablement and does not cover permanent or temporary partial disablement. But it covers accidental hospital expenses up to Rs. 500 per day.
7. United India Personal Accident Insurance
United India’s Personal Accident Insurance covers accidental death (100% of sum assured), permanent total disablement (100% of the sum assured) and permanent partial disablement (95% of the sum assured). It does not cover temporary partial disablement but covers accidental hospital expenses up to 25% of the claim amount.
6. Reliance Personal Accident Policy
Reliance Personal Accident Policy covers accidental death and total permanent disability up to 100% of the sum assured and permanent partial disability up to 50% of the sum assured. It also covers temporary partial disablement up to 1% of the total sum assured maximum up to Rs. 5,000 per week for up to 50 weeks.
5. Apollo Munich Individual Personal Accident- Standard Plan
The Individual Personal Accident- Standard Plan offered by Apollo Munich offers accidental death benefit, permanent total disablement benefit, permanent partial disablement and temporary total disablement benefit. It also includes cover for accidental medical expenses, emergency ambulance, etc.
4. Bharti AXA Smart Individual Personal Accident Plan
The Smart Individual Personal Accident Plan from Bharti AXA covers accidental death equal to the sum assured, permanent total disability up to 150% of the sum assured and permanent partial disability up to 75% of the sum assured.
3. Religare Secure Personal Accident Insurance- Secure 2
Religare’s Secure Personal Accident Insurance- Secure 2 plan covers accidental death, permanent total disablement, and permanent partial disablement. It also offers 10% of the sum assured for child’s education and covers fractures, burns, major diagnosis tests, and disappearance.
2. Bajaj Allianz Premium Personal Guard Plan- Comprehensive
The Premium Personal Guard Plan from Bajaj Allianz is available in three different options- Basic, Wider and Comprehensive. The Comprehensive plan offers death benefit along with coverage for permanent total disability (125% of sum assured), permanent partial disability and temporary total disability.
1. Star Health Accident Care Individual Insurance
Star Health’s Accident Care Individual Insurance covers accidental death (100% of the sum assured), permanent total disablement (150% of the sum assured) and permanent and temporary partial disablement (as per the disablement). It also offers accidental hospitalization expenses up to 25% of the claim amount or 10% of the sum assured as well as emergency ambulance expenses up to Rs. 5,000. It also offers educational grant up to Rs. 10,000 each to up to two children’s.
When selecting an accident insurance in India, make sure that you thoroughly check the inclusions and exclusions of the policies to avoid any kind of discrepancies in future.