Incidents not covered under Accidental Insurance

The accidental insurance provide financial support for any unfortunate situation arising from the accident and also provide a financial protection for any kind of income loss because of such accident, any unfortunate events which is caused due to rail, air, road, fire, collision, explosion and others are covered under this insurance, this insurance also compensates financially, if the person suffer from disability from such situations or events which prevent or obstruct from working, this also insurance also provide monthly income to help to process on with life.

Types of Personal Accident Insurance 

There are mainly two types of personal accident insurance and they are:

Individual Personal Accident Insurance:

1. In this type of accident insurance apart from death the long term and the short term disability are also covered, and this insurance is meant for the individual itself.
2. Group Personal Accident Insurance: In this insurance the insurance is provided to the employees by their employers, and under this insurance the basic coverage is covered.

What is covered under the Personal Accident insurance?

Death:

If the person dies in the accident, then this is covered under the personal accident insurance, and the sum that is insured will be entitled to the legal heirs, for an example if the sum of amount insured is 2 lakh then the legal heirs will receive that particular amount.

Disability:

It can be classified into three categories

Permanent Total Disability (PTD): In this the disability is permanent and cannot be recovered, such as loss of eyesight, permanent separation of hands and feet, loss of one hand or one foot, paralysed, a person in coma.

Temporary Total Disability (TTD): In this disability, there is total disability, but it is for the temporary period only.

Permanent Partial Disability (PPD):  In this disability, there is not total but some part is being disabled example loss or the thumb or any other finger, loss of toe, thus the compensation is based on the amount of the disability.

Things that are not covered under the accidental insurance policy:

No compensation will be given if the death, injury or disability occurred due to-

1. Intentional self-harm or self-injury, suicide attempt, or suicide death
2. Intoxicated under the influence of drugs, liquor or any other psychotropic substance
3. Following wish list such as engaged in aviation, diving, balloon ride or any travel wishes etc.
4. Infected with any venereal diseases directly or indirectly
5. Due to involvement in any criminal activity or breach of law
6. Due to death from service in any armed force
7. Death due to pregnancy or birth of a child.

Companies which offer the insurance policy in India are:

Nowadays the person can buy these accidental insurance both online as well as offline, here are some of those companies that provide these insurance in India are:

1. Max Bupa
2. Bharti Axa 
3. LIC
4. Religare
5. The New India Assurance 

Advantages of accident insurance policy:

One should be careful in life to be in guilt later, therefore his makes it beneficial to buy or take accidental insurance to curve financial risk related to those insurance and other related problems.

1. If any policy holder faces any temporary total disability, then that particular policy holder is liable to get monthly, weekly or daily financial benefits.
2. Any individual can get these policies for himself and for the family member too
3. Few of these policies pay funeral cost as well

How can LEAD INDIA help?

Lead India helps the person to better understand the terms of these policies the insurance experts will guide you and help you in understanding the requirements of the accident insurance policy and also assist you in claiming the compensation of those insurance policies.