Personal Accident Policy

• Accidental Death Benefit: In the case of the insured's death due to an accident, the insurance pays a lump amount to the beneficiary specified by the insured. This reward is usually a proportion of the money insured.
• Permanent Total Disability Benefit: If an accident results in permanent complete disability, meaning the insured individual cannot work or conduct everyday activities, the insurance pays a lump sum. The impairment is often characterised as the loss of both hands, feet, eyes or any combination of these.
• Permanent Partial Disability Benefit: In an accident resulting in permanent partial disability, when the insured individual loses certain bodily functions or body parts, the insurance pays a percentage of the total insured dependent on the degree of the impairment. The policy specifies the specific impairments covered as well as the percentage payable.
• Temporary Total Disability Benefit: If an accident causes temporary complete disability, which means the insured person cannot work for a certain amount of time, the insurance will pay a weekly or monthly benefit to compensate for the loss of income.
• Medical Expenses Coverage: Personal Accident Policies often offer coverage for medical expenditures incurred due to an accident. This policy often covers hospitalisation expenditures, surgery costs, medical treatments, and ambulance fees. The insurance terms determine the coverage limit.
• Additional Benefits: Additional benefits, such as payment for emergency medical evacuation, burial fees, education benefits for dependent children, or accidental hospital cash benefits, can be included depending on the policy.

Personal Accident Policies do not cover diseases or pre-existing ailments. The policy can also include specific exclusions, waiting periods, and limits, all of which should be carefully studied. A Personal Accident Policy's coverage and benefits might vary based on the insurance provider and the specific policy conditions.