Personal Accident Policy Plan
The New India Assurance offers a range of products covering different conditions. The Personal Accident disability plan offered by New India provides financial compensation in case of death or disability resulting from an accident.
There are several other types of personal accident policies offered by New India Assurance like Individual Personal Accident policy, Group Personal Accident policy, Passenger Flight coupon (for travelling passenger), Gramin Personal Accident policy (for rural Indians), Janata Personal Accident Policy, Student safety Insurance (for school and college students), Raj Rajeshwari Mahila Kalyan (for women) and Bhagyashree Child Welfare (for girls). For details on these policies contact Coverfox.
Main Highlight of the plan
The important benefits of New India's Personal Accident plan are:
- 1. Worldwide cover in case of any accident.
- 2. Option to cover entire family under family package cover.
Scope of cover
- This plan is available for residents of India between age 5 years to 70 years.
- The family package cover is available for insured, lawful spouse and dependent children. A discount of 10% is applicable on premium.
- An individual has four coverage options to choose from:
- Table D – Covers only death resulting from accident.
- Table C – Covers death, loss of one or both limbs or one or both eyes or any other permanent total disability.
- Table B – In addition to coverage offered under Table C this option covers permanent partial disability. Depending on the part of the body affected, fixed percentage of sum insured is provided as compensation.
- Table A – In addition to coverage offered under Table B above in this option temporary total disability is also covered.
- The sum insured limits
- The maximum sum insured limit is equal to income of the individual for 72 months of employment.
- For a non-earning spouse the limit of coverage would be up to – 50 % of the Sum Insured of the proposer up to a maximum of INR 1,00,000.
- For a dependent child the limit of coverage would be up to – 25% of the Sum Insured of the proposer up to a maximum of INR 50,000.
- Note: The income from property, shares, etc. would not be considered for calculation.
