Accidental Insurance – better safe than sorry

Accidental insurance is one of the most ignored insurance categories in India.

As we all know the majority of people buy insurance either for tax planning or investment purpose but unfortunately both these benefits are not available in Accidental Policy. But does that mean you should not buy accidental Insurance? Think.

This article will cover:

  • What is personal accident insurance & its features
  • Benefits of accidental insurance
  • Comparison of accident insurance policy
  • How premiums are decided in an accident insurance policy
  • How much accidental insurance you should take

Accidental Insurance

Must Read: Term Plan – the right way to take Life Insurance

Accidents are not uncommon

Accidents can happen anytime when you are riding a bike, taking a shower, or cooking. They cause physical pain, mental trauma, and financial damage.

As per the Ministry of Statistics and Program Implementation, in 2013, more than 20,000 people died due to fire. As per TOI, there are about 400 deaths due to accidents in India daily!

I do not want to paint a bleak picture but accidents are common. They are not events that can happen only to other people. It is better, therefore, to protect oneself and one’s family from a financial perspective against accidents.

  • Term insurance does pay on the death of the insured but the sum assured and premium depends on the person’s age, profession, and other conditions.
  • Health Insurance is a yearly plan in which also there could be different terms and higher premiums for people of higher age or who are diagnosed with any medical issue.
  • Accidental Insurance provides financial protection against accidents.

Why Insurance? 

Insurance is the foundation of any financial life – a person who is having dependents must first completely insure himself & then only should start thinking about investments. We should know that the term plan is not for us but for our family and medical insurance is for us. So one should buy a term plan when he is having dependents but medical insurance is a must for everyone. If we talk about accidental insurance it is equally important for us & family.

What is Accidental Insurance?

When I bought my first vehicle; my mom advised drive safe these days accidents are increasing – hope you would have received similar advice from your parents or given to your kids. The impact from the accident can be as small as a scratch to as big as death – the impact can be temporary or sometimes even permanent. The accidental insurance policy covers this risk but first check the definition of accident.

Accident or Accidental means a sudden, unforeseen and unexpected event caused by external, violent, and visible means (but does not include any illness or disease) which results in physical bodily injury (but does not include mental, nervous, or emotional disorders, depression or anxiety).

Accidental Insurance also excludes suicides, self-injury, armed force operations, war, etc.

In case of death term plan will help the family to cope up with financial hardship but what about an accident where one loses body parts & that impacts his earning abilities. In such a situation, Accidental Insurance can be very helpful.

Features of Accidental Insurance

Yearly Contract: Similar to term plan & medical insurance – accidental insurance is also a yearly contract that you can renew every year.

Maximum Insurance: It depends on your income – some insurance companies give 60-100 times of your monthly income others give 8 to 10 times of your yearly income.

For Non-Earning Members: Few insurance companies provide accidental insurance to dependents but have limitations in sum assured. 25% to 50% of the proposer’s sum insured with maximum limits in rupee terms.

Benefits of Accidental Insurance Policy

Comprehensive Accidental Insurance policy provides benefits in 4 cases:

Accidental Death

If an insured died due to an accident his nominees will get 100% sum insured. So it’s very important to have the right nominee in any kind of insurance policy whether accidental or life.

Permanent Total Disablement

Sometimes a person met with an accident & loses his body parts – may not be able to work in future. In the case of Permanent total disability 100% sum insured is given to the insured person. It covers:

  • Loss of both hands or both feet or one hand and one foot
  • Loss of a Limb (hand/foot) and an eye
  • Complete and irrecoverable loss of sight of both eyes
  • Complete and irrecoverable loss of speech & hearing of both ears

Permanent Partial Disablement

As the name suggests this benefit is given if someone losses one hand or one leg or even small body parts like a finger/toe. For this, every insurance company has their own tables – what they will cover & how much they will pay depends upon the age limit of the person as per policy documents.

Temporary Total Disablement

Sometimes it can happen that anyone met with some serious accident but there is no permanent loss. But the doctor suggested a complete bed rest of 5 weeks or a complete checkup of any part of the body. This will impact an earning for a small period so in such case accidental insurance can compensate for this income loss. The weekly benefit is normally 1% of your sum assured for a maximum of 100 weeks. There is also a maximum limit according to your income.

Other small benefits

There are few other benefits that one can get from the insurance company – a few are priced in the premium & for others, you need to pay additional premiums. These can be emergency ambulance charges, education funds for kids, medical expenses, family transportation, imported medicines, etc.

benefits of accidental insurance

How much accidental insurance do you need?

Accident insurance covers death due to accident, disablement due to accident.

How do you determine how much accident insurance you need to have? Here are some parameters that one should keep in mind before buying a personal accident insurance policy-

1) Coverage of the insurance policyAccident policy cover death due to accident and total disability due to the accident. Some of them cover partial disability or temporary full disability. Check the features and decide how much coverage you want.

2) Our Profession – Insurers classify people into different categories depending on their profession. If you fall into the category of high-risk professions like a factory worker or miner, you should definitely buy an accident cover. The premium is usually higher for professions that involve high-risk activities.

3) Current financial profile – The sum assured depends on many factors such as the number of dependents, financial goals, the extent of loan repayment, etc.

Disablement or death due to an accident can derail the financial situation of the family. An accident cover ensures that financial goals such as child education and debts such as home loans are repaid. The family can continue with a similar lifestyle ahead. It is said that the accident cover should be 100 times your current monthly income. So if you are earning Rs. 50,000 per month, the accident cover should be Rs. 50,00,000.  But if you do not have dependents or loans, you can go for a lower sum assured amount such that it compensates for the loss of earnings and you are able to take care of your expenses.     

Check This: How much Health Insurance do I need?

Here is a comparison of a few accident insurance policies available –

Insurer Sum Assured Premium Key Features
Apollo Munich Individual Personal Accident Premium Plan Min – Rs. 5,00,000

Max – Rs. 15,00,000

A cover of Rs. 10,00,000 for an IT Employee has a premium of Rs. 1,882. Mainly Covers Accidental death, permanent total disablement, permanent partial disablement, and Temporary total disablement.

Read herefor more details

HDFC Personal Accident Insurance Min – Rs. 5,00,000

Max – Rs. 15,00,000

A cover of Rs. 10,00,000 for a 35-year-old person has a premium of Rs. 2,286. Mainly covers Accidental death, permanent total disablement.

Read here for more details

Star Health Accident Care Min – Rs. 5,00,000

Max – Rs. 15,00,000

A cover of Rs. 10,00,000 has a premium of Rs. 700 Mainly provides cover for Accident Death, Permanent Disability, and temporary Disablement.

Read here for more details.

It is good to buy a personal accident insurance policy as it covers a major aspect of your life. It will provide financial support to the policyholder if there is disablement and also provides cover for major and minor mishaps. It also provides financial protection to family members in case of death or disablement.

The below table will give you more idea about accidental policy but this table is not updated from last few years.

Accidental insurance Comparison (Premium & Features)

TATA AIG Accident Guard

National Insurance Personal Accident Policy(Normal Risk)

Star Health Accident Care (Risk Level 1)

Future Generali Accident Suraksha

Bajaj Allianz Premium Personal Guard

Reliance Personal Accident Policy(Risk Level 1)

Premium (Rs.)







i-save Rating  N/A  N/A  5 Star  5 Star  4 Star  No Star
Maximum age of entry

65 years


70 years

65 Years

65 Years

70 years

Temporary total disablement


1% of CSI not exceeding Rs. 5000 per week.

1% of the capital sum insured subject to a maximumof Rs. 5000 per week


Up to Rs.10,000 per week to a maximum of 100 weeks.

1% of CSI per week as per policy conditions not exceeding Rs. 5000 per week

Minimum sum assured







Permanent total disablement

An amount up to a maximum of Rs. 1,00,000 will be reimbursed .

100% of the sum insured


200% of the sum insured.

100% of sum insured.

Accident medical expenses


10% of C.S.I. or 40% of the admissible claim whichever is lower .

Covered on additional premium payment

Rs.1200 for each completed day of hospitalization for a maximum period of 30 days.


Up to 40% of the compensation paid or 20% of the CSI, under the policy whichever is lower. This benefit is available on payment of an extra premium of 20%.

Minimum age of entry

18 years


18 years

18 Years

18 Years

5 years

Cumulative bonus

5% to 25%

5% to 50%

5% to 50%


5% per claim free year to a maximum of 50%.(reduced by 10% if a claim is lodged).

5% to 50%

Last rites

Up to Rs. 5000

2% of C.S.I. subject to maximum Rs.1000/- shall be reimbursed

Covered (Rs.3000)



A lump sum of 2% up to Rs. 2500

Broken bones







Family transportation

AD sum insured up to Rs.50000



Maximum amount payable is 10% of the sum insured (under death cover)subject to maximum Rs.50,000.



Family discount



10% if cover is opted for family members.



Children’s education cover

10% of the sum insured

10% of C.S.I. per dependent child subject to Rs.5000/- per child up to maximum two dependent children.

1 child: Rs.50000; 2 child: Rs.10000


Rs.5,000 for a child or Rs.10,000 maximum for 2 children below the age of 19.

10% of the sum insured to a maximum of Rs. 5000 per child.

Maximum sum assured




Up to 25 Lacs.



Permanent partial disablement


% of CSI as Detailed in the Policy


5% to 70% of sum insured.

1% to 75% depending on policy conditions.

Accidental death benefits

100% of sum insured.

100% of the sum insured

100% of the sum insured


100 % of the Accidental death su insured.

100% of sum insured.

 Source: i-save (CSI – Capital Sum Assured Rs 20 Lakh)

How accidental policy premiums are decided

Accidental policy premiums do not depend on the age of the insured but on his work profile & working conditions. Occupational classification divides people in 3 levels (I have also added premiums from Apollo Munich for each category – Sum Assured Rs 25 Lakh)

Level 1 (normal risk) – this includes people who are in administration functions and work in offices like accountants, bankers, doctors, etc. Premium Rs 2600

Level 2 (medium risk) – people who are working as labor in the field. Premium Rs 3600

Level 3 (high risk) – people who work in mines, circus, etc will come in the higher risk category. Premium Rs 5450

You can see as the category changes premium substantially increases – this premium doesn’t include service tax.

Premiums can be down if you are applying as a family or group.

Other ways to buy Accidental Insurance

We Indians love the thali system & the concept of free – but let me remind you again that there is no free lunch. From the thali system, I mean that people try to add accidental insurance as a rider with life insurance but my suggestion is you should keep both these insurance separate.  This will give you proper comprehensive insurance at a lesser price.

Sometimes you can also get accidental insurance with some credit card or even from a few of the mutual fund companies. Here my suggestion is one should not count this insurance because this will give you an illusion that your insured. But actually, you never know when you are discontinuing your mutual fund or surrendering your credit card.

Insurance is an important component of financial planning and you should analyze your and your family’s requirements before deciding the appropriate cover to buy.

If you need help with your Financial Planning – you should check this

Hope this article gave you a broad idea about accidental insurance. Do you have accidental insurance or are planning to buy now??


  1. Another excellent article, Thank you SirG. Never thought of an accidental insurance, heard a lot while I was in the US but never in India. I think this is a critical part of the insurance we should insure ourselves. I am planning to buy one now, will decide between Allianz and Star Health. Thank you for opening our eyes, once again.

  2. great article.
    you raised a good point on standalone accident insurance vs. rider on life insurance policy.
    The last time i checked this, the premium cost was more than double when taken as a rider as compared to a standalone accident policy. (Rs 40 per lakh vs. Rs 100 per lakh). When I pointed this out, the agent told me that IRDA has strict rules on expenses/commissions on the base policy but it’s more relaxed on the riders. So the margin is much higher on riders.
    Common investors are better off taking accident policy separately rather than as a rider. If they are decoupled, one can be discontinued if it becomes unnecessary. This won’t impact the other.

  3. Hai Hemant Bhai,

    Another Important article which we were waiting for you,thanks for this one…you said it…most of us ignore the importance of Personal Accidental Insurance…they think that ,If they have enough Life Insurance,they are safe.But what if they met with an accident by putting their family and dependents in trouble ???

    Anyways timely article for you,i would like to know your opinion about Personal Accident Insurance from Apollo Munich ? I prefer to take Health Insurance from Apollo,so do the Personal Accidental Insurance 🙂

    Thanks and regards,


  4. Is Future Generali a good insurance company ? I mean in terms of claim settlement etc. Kindly suggest, i am interested in buying their Accidental Insurance cover.

    • Hi Tajinder,
      I am not sure about its claim settlement but you can see in above table that they have so many limitations.

  5. Good article and you have covered essential information nicely. The main point I see in accidental insurance is coverage for Permanent/temporary disability. My friend’s brother had serious road accident and I know how entire savings of his family gone in the treatment. He has Term insurance and traditional ulips but they can’t help here.

    Term + Medical + Accidental insurance are ‘real’ insurance products and must be in everybody’s kitty. God forbid but don’t wait for any unfortunate incident to show how valuable/helpful are these products.

    – Jagbir

    • Hi Jagbir,
      Fully agree with your views “don’t wait for any unfortunate incident to show how valuable/helpful are these products”

  6. Thanks Hemant for this great article.
    Which insurance company did you take your personal accidental insurance from?

  7. Hi Hemant,

    Thanks for such a nice write-up.

    I have a basic doubt (may sound silly!), If person A has both Term (25L) & Accident Insurance (20L) from 2 different insurance providers, unfortunately, he meets with accident and loses his life. Will he get Sum Assured from Term & Accident Insurance policies?

    This question may sound stupid, but still I need to be clear on this


    • Hello KK,

      He will get both. Term insurance would be paid on death irrespective of cause. Accident insurance amount get paid when death occurs due to accident or due to other causes included in insurance policy. Though we should mention other policies when we take Term/Accident insurance but these policies are not in any way related/linked to each-other and amount is paid when incident occurs.

      In case policy holder dies due to ailment/old age etc. not covered in Accident policy then he will get amount from Term policy only, not from Accident.

      Hemant, please correct me in case my understanding is wrong.


    • it’s an often asked question. Not a stupid question at all. A lot of people have this question.

      yes. the entire sum assured is payable – both the term life cover and accident cover.

  8. Hi Hemant,

    Very nice article. Could you please let me know what would be the ideal amount of cover for a comprehensive accident insurance. I am 30 years old with no dependents and earn around 40k per month.

  9. One more thing, you mentioned that taking a standalone personal accident policy is always better and not to opt for the thali system of clubbing it with a term policy or health policy..

    But the cost per lakh is much lower in the clubbed version than the standalone version right? I saw for oriental happy family floater, in that the cost is Rs. 60 per lakh of accident insurance, whereas standalone accident policies cost around Rs. 150 per lakh.. Am I missing something here?

    Apart from the option of discontinuing the policy, what other benefits are there of keeping policies separate? Could you please clarify that.. I read the post above by Sumant but I could not understand it..


    • Sunnydoc,

      “I saw for oriental happy family floater, in that the cost is Rs. 60 per lakh of accident insurance, whereas standalone accident policies cost around Rs. 150 per lakh..”

      Are you sure you are not mixing medical insurance with accident insurance? I have heard of family floater policies for medical insurance only. Never for accident insurance.
      Besides, the cost of accident insurance for someone in Type A (administrative job) is Rs 40 per lakh. It can go up based on the profession. Are yo sure about Rs. 150 per lakh quote. Is this for accident + disability? If you add disability benefits, the premium cost goes up. Please be sure you are making an apple to apple comparison.

      • Sumant,

        No I checked, the family floater health insurance provides add-on of accicent insurance to each individual family member as well but makes no mention of whether it is comprehensive or not.. Ya 150 per lakh is the most comprehensive form which includes everything from partial to total disability..

        I basically wanted to know the key differences between the clubbed version and non clubbed version of accident insurance..

        • Sunnydoc,
          it’s really a simple matter. If you are getting the exact same risk cover at a lower cost when taken as a combined insurance, you can go for it.
          Unlike life insurance, accident insurance premium doesn’t go up with age.
          So if you discontinue the healthcover, you can always take accident insurance separately at that time.

          • Hi Sunnydoc,
            Why don’t you ask insurance company that it is comprehensive or not. This will also be helpful for other readers.

            • Hey Hemant,Sumant,

              Even I had this question. If I take rider with SBI smart shield, it is 2250 for 30 L riders (Accident death+ Accidental Total & Permanent Disability Benefit Rider), but here it is 3000 with National insurance.. So feel it would make sense to go with SBI along with term insurance. But if I take Jeevan Amulya with LIC , I will take this insurance seperately.

              • for SBI smart shield, did you keep the accident death cover as 30L too?
                I tried its premium calculator and for a 30 year old, 30 Lakh cover for 25 years with 10L accident+disability rider, I am getting a premium of 6903/-.

                Which National insurance product is this? This is a general insurance company and cannot sell Life Insurance. They can only accident death/disability insurance.

                So i doubt this is an apple to apple comparison.

                • Hey Sumant, I was comparing only the accident and Disablity insurance part only.
                  i.e taking a rider with SBI term insurance vs taking the accident cover seperately from player like National insurance. In case of SBI it is 6990 Rs for Term insurance + riders (without tax) (1800 is for riders alone + 5190 for 30L term cover under level policy).

                  I got the National insurance amount from the table in the article.

                  Hope this is clear. Ping me if Iam not clear. I already have a term insurance from SBI. Iam planning to surrender it and take a new one as the rates have come down drastically.

                  • ok.. i got it…
                    so there is additional incentive of lower term life cover premium.
                    i don’t see any disadvantage of the SBI option (except the earlier discussed problem with clubbed insurance). So if the total premium is lesser in this option, go for it.

  10. Dear Hemant,
    great article, as usual !!
    just wanted to know–is Accidental insurance available for retired persons also-because you mentioned that premium amount depends on working conditions?
    Also, continuing a previous question– is one eligible for Life Insurance with ADB as rider plus Accidental Insurance incase of death by accident? Normally in Life insurance with ADB, the sum assured is 2x. Also, Personal accidental insurance and Group Insurance Compensation from employer can be availed at the same time? regds

    • Hi Shreedhar,
      Few of the insurance companies provide accidental insurance to retired people but with some limitations.

  11. Hi Hemant,
    Im thinking to buy this insur. from long time it is postponed all the time..thanks for awaking me..
    1 must have Personal accident insurance

  12. Hi,

    Thank you for the article. Quite informative.

    Which is a better option for Personal accident Insurance?
    1. Single plan of 15lac from a public company.
    2.Two plans of 8lac each, one from public and other from private?

    Thanks in advance.

  13. Hi Hemanth,

    First of all thanks for writing this wonderful post.

    1. Out of all the policy that you have given details about, which one would you personally recommend?

    2. What you think about Oriental Insurence Nagrik surakha policy? when comapred to all others, there is one limitation with OINS policy which is you can buy only for 5 L , whaich i think is not enough for me, i make almost 70k/month.


  14. Hi Hemant,

    Thank you for your replies and i am sorry to bother you again.
    I proposed for a 20lac PA in National insurance and my proposal was declined since I am covered under a group accident policy by my employer.
    Though I clarified them that the group policy overs the accidents that occurs only on duty time.
    So i decided to buy from a private company. Here is the problem how to choose.
    After my study of the product through i-save, i decided to buy either from Future Generali or Bajaj Allianz.

    In Future Genarali, the premium for 25lac is just Rs.2234 (PD+PTD+PPD+TTD+Hospital confinement). I learnt their settlement ratio is 71%. Their price and features attracts me(includes TTD) .

    In Bajaj Allianz, the premium for 20lac is Rs.3089.(PD+PTD+PPD+Hospital confinement). Their settlement ratio is 91%. i also learnt that Bajaj has some good repution than Future generali.
    I am 25now and i will be continuing this policy atleast for next 10yrs.

    How shall i choose? whether based on premium or settlement ratio and reputation?
    Please help me.

  15. HI Hament,

    I have gone through mnay articles written by you. You are doing a great job. keep it up.


  16. Hi Anand,

    If you want to get any information regarding any insurance companies like claims paid, settlement ratio etc.. you can get it from IRDA website annual report. Take decision based on that.

  17. Hi Vik,

    I think you have incorrect information about Oriental Insurance accident policy. I just got one of 25 lk for myself last month. So go for it.


  18. Hi Purvesh,

    I was not talking about the Oriental insurence accident policy i was talking about the Nagrik surakha policy, The premium of nagrik surakha is very very low, what you have taken is diffent, in Nagrik suraksha the cap is 5lakhs. whats your premium for 25 lakh and whats your age if you dont mind?


    • Hi Vikrant,
      Well i know that. My policy is combination of both which covers daily compensation up to max 5000/- which you are talking about. And i also took personal accident policy which covers other aspects. Well My age is 31 and premium is just 3300/- Rs.


  19. Hi,

    Recently my wife met with an accident and she had hurt her head and neck. When i took her to hospital, her head was the concern as her neck was feeling ok. had a CT scan done and doc said she was fine. So she was an outpatient. next day her neck was feeling worse and she was advised to take MRI. These heavy costs wont come under mediclaim etc as she was not hospitalized. What is best suited for such needs?

  20. Critical Illness and Personal Accident policy of Bajaj Allianz is quite cheap.
    How to go about it or there is any other good one ?

  21. Hi Hemant,
    I want to take accidental policy and have two options:
    1. National Insurance personal accidental policy
    2. Oriental Nagrik Suraksha policy

    I am just confused which one to go for as the benefits are almost same except the premium amount diffference. could you please help me in opting the best in terms of services.


  22. hi

    i have taked term insurance but now i am confused in buying accidental insurance, please advice which is the best .My concern is i want loss of income cover due to accident with inclusion of Permanent / partial / temporary disability. Also advice Terrorist attack covers in all accidental insurance. How much maximum amount i can take cover . My gross salary is INR 48000/- per month

  23. hi

    i want to but accidental insurance which covers loss of income coverage ,Permanent / partial / temporary disability. Also advice Terrorist attack covers in all accidental insurance. How much maximum amount i can take cover . My gross salary is INR 48000/- per month

  24. Dear Hemant jee

    Your topic on Accident Policies is very informative, but you missed giving Claim settlement Ratio of Insurance companies..

    • Hi SS Rao,
      Accidental Policies are very simple product – if we talk about accidental death. Claim settlement ration are important in term plans.

  25. Bajaj Allianz Premium Personal Guard policy has option of covering spouse and child as well. Spouse and child will get 50% and 25% benefits of self plan.
    Is it a floater plan or individual one?
    Any comment about Apollo personal accidental insurance standard/premium?


    • Hi Prasoon,
      Accidental policies are not floater policies – I think you are confusing it with mediclaim. Apollo accidental Standard policy is a good choice.

  26. I have health insurance from employer, and It cover accidental death and sum assured is only 3lac.. which is very low. and i want to buy personal accidental insurance for higher Sum Assured. My confusion here is, if case of any misfortune my death occurs due to accident when the both insurance are intact, can our dependent claim from both insurance? or at least one insurance company will not be having any problem in settling the claim?

  27. Dear Hemant,

    Can you elaborate on the difference between Mediclaim, Personal accident and Accidental Insurance policy? How much cover should one have on each of these policies, considering age of 32 and annual income of INR 15 lacs


  28. Hi Hemant,
    A good article which covers a lot of ground. However, there is one point regarding accident claims which I needed clarity on. I have read about MACT (Motor accidents claims tribunal) and of people getting settlements in the case of accidents from there. Just wanted to know how this works and is it linked in any way with accident insurance policies.
    Also, couldn’t claims under this be possible for say people like Murali whose wife was injured in an accident and is not covered by mediclaim nor accident policy?
    Could u enlighten us please.
    Thanx n best rgds,

    • Hi Praveen,
      This is not part of accidental insurance but related to vehicle insurance. One should give top priority to accidental/disability insurance if we are talking about any form of insurance.

  29. Dear Sir,

    This article will definitely open the eyes of those who read it, regarding the type insurance cover every one should necessarily have, as shown in the diagram. i.e. ” You( any one) should be protected by “Term Insurance, Health Insurance & Accidental Insurance” cover to get the financial compensation in the event of any incident/eventuality resulting in financial loss. Regarding the table in respect of Bajaj Allianz Personal Guard Policy the following features are not brought out. They are:(Source the companies web site)
    1)Accident medical expenses: Benefit upto Rs. 4.00 lakhs is available by paying ‘Add on Premium’ of Rs. 950/-, which benefit also includes Accidental Hospitalisation Cash @ Rs. 2000/- per day max. for 30 days.
    2) Family discount : Family benefit at the rate of 50% and 25% of Base plan & Add on premium of ‘self Plan’ is available.
    3) Permanent partial disablement: “5% to 75% of sum insured.” and not 5% to 70% of SI.

    In addition I would like to bring to the attention of our readers the availability of 2 more accidental insurance plans from Bjaj Allianz, viz. “Sankat Mochan” & “Personal Guard” policies costing lesser premium with varied features.

    By reading this article I have decided to buy the Accidental Insurance cover separately, in addition to what i have as a rider to my life insurance policies.

    I take this opportunity to express my sincere thanks for enlightening others on the subject of Insurance protection.

    Thanks& regards
    R. kannan

  30. Dear Hemant,
    I want to take accidental insurance from apollo munich for 50 Lacs.
    they have two variants 1- Standord 2- Premium
    Premium difference betwween two is approx 550/-
    in Premium version they have some additional benefits- Broken bones, Accidental hospitilisation, modification of resisidence/vehicle.
    which one do you suggest.
    I am in ocupation class-1
    Premium for apollo munich premium version -6287/-
    Premium for apollo munich standord version -5730/-

  31. Hi Dear,
    You have done a good job.
    I have 3 policies of term insurance from LIC,HDFC,ICICI.
    For every earning member Term is must but i think permanent disability of earning member is also very life changing event.

    Should i divide my PAI(50 Lakh) in different companies like Term plan
    or purchase single policy of 50Lakh for PAI.My saley is 65K per month.

    Thanks in Advance.

  32. I have accedental polity with bajaj allianz and my office provides me with the accedental polocy of Vipul. I met with an accedent and had to rest for almost 45 –55 days . can I claim for salary loss with both insurance company. is there any IRDA rule that will allow me th get the benefit of TTD with bajaj allianz and vipul?

  33. Hi Hemant,

    Why we need Accidental Insurance?? Isn’t death by accident covered under Term Insurance plans(I am not talking about the riders, but the plain term insurance)??If not, then what type of deaths are considered for claims(under Term Insurance)??


  34. Mansoor, I have taken accidential insurance of 50 lakhs from icici can i buy another 50 lakhs from aegon religare. Are there any norms of IRDA that 1 pesron can avail 50 lakhs max to max. can u help me .Pls reply


    • Hi Pradeep,

      The coverage of accidental insurance is decided by the company based on ones income. The maximum limit is based on this factor. You can put forward your proposal to the company with all the details including the existing coverage and they will tell you the coverage amount you can avail.

  35. Hi,

    Which of the amongst HDFC Click2Protect & HDFC Term Assurance Plan is better for 30 years single male individual?

    • Hi Vinod,

      The major difference between the two product is the premium. HDFC Term Assurance Plan is bought through agents and so the premium will include their commisssions. Contrary to this HDFC Click2Protect is bought online and so the premium will be cheaper. If you are comfortable without agent services you can consider HDFC Click2Protect.

  36. Hi Hemant,

    I need some clarity and advise on accident insurance. I work with school children. Kindly share your mail id so can mail you my query.


  37. Hi,
    I want to go for Bajaj allianz personal guard. Just want to know the mentioned premiums are per month or per year?

    • Hi Pankaj,

      The premiums in non-life insurance are on Annual Basis as the policies are issued for one year. There is no monthly concept.

  38. hi.

    thanks for so informative article.

    i have a query . if i take this policy from 2 different insurers for same SA, then in event of some happening , will both insurers will liable to pay decided SA or not.

    • Hi Vivek,

      Till you have disclosed all details to both the companies (including the previous insurance policies) then yes both will pay you the claim.

  39. Hi Hemant,

    Could you please suggest…(My current age is 29)
    1) Is it better to go for two term policies (50+50 lack 60/40) or a single one (1Cr)
    2)Iam going to get mearried in 3 months.Is it fine to take term plan before marriage or after?Any marriage pros or cons on plan premium
    3)Which combined plan would be good for me …HDFC,Kotek,ICICI .

    Your well detailed reply would be of really great help.

    • Fergi,

      1. Buying two insurance policies will be beneficial.

      2. Marriage has no impact on your term insurance except that your need of insurance requirement increases.
      3. ICICI premium will be higher since there is no medical test. You can choose to have other two for minimum premium outgo.

  40. Hi Hemant,
    Thanks for the really useful and timely article.
    I have one question. The insurance covers mentioned in the article does not cover any critical illness.
    Do we need to take seperate critical illness cover other than Accidental insurance, or is there any insurance provider giving combined insurance for ADB and CI ?

  41. Hi,
    I need to know the total premium amount for accidental policy covering 5 years. I am 46 years old now.
    Thanks and regards

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