Know about the coverage of personal accident insurance policies

ประกัน pa stands for the personal accident insurance that provide the medical coverage of your accident. It will be covered under the policy of motor insurance that will pay all the compensation amount if there is any body injury, permanent disability or death of the person. The limit of the accident coverage amount is Rs 15 lakhs by the IRDAI.

Advantages covered under the insurance policy

  • Accidental death- if the nominee dies in an accident, then the accidental death compensation amount will be given to the family members of the nominee, and the family members will be financially secure as the amount of the compensation ranges from 5 lakhs to 1 crore.
  • Permanent disability- sometimes after the treatment of the accident, the victim faces some permanent disability such as loss of eyesight or a finger, then in this case the policy holder will receive the amount depending upon the type of disability.
  • Permanent partial disability- it refers to the partial disability such as loss of one eyesight or loss of hearing from one ear only. Then in this case also the policy holder can claim for the compensation amount.
  • Transportation benefit- one of the major benefit as it include family transportation and if the victim needs a treatment that can be done in big cities or in a foreign country, then all the transportation charges are covered by the insurance policy.

Other features of the insurance

The insurance covers other life features such as employment and education. The victim will be provided sufficient money for studying and then securing a job. And, in some of the cases, funeral expenses as well. Some policies even allow home and transportation including all the hospital expenses from ambulance, food, surgery, and medicines.

Guidelines before buying the policy

Before buying the policy, you must keep certain things in mind about the details and coverage provided by the insurance policy. Point to note down is that services of different insurance companies slightly vary from each other. So do not expect the same benefits from all the insurance companies.

The next factor is that insurer will not cover or compensate for any loss during a war or terror. If you have pre-existing diseases or disabilities, then these things will not be considered under your plan. You have to compromise with the certain mental disorders, HIV or AIDS including the congenital anomalies. If you are injured during certain activities like bungee jumping, river rafting or mountaineering, then these issues will not be covered by the insurance policy.

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