Accident and Critical Illness Insurance

POSTED BY Sylvestor ON January 22, 2012 10:06 pm COMMENTS (2)

I am 35 years old. I want to go for Accident Insurance and Critical Illness Insurance worth 1 CR each. Can anybody suggest me what would be approximate premium per year? Also suggest reliable service providers. By the way, I am more inclined towards Govt of India undertaking service providers like Oriental, National, United etc.

2 replies on this article “Accident and Critical Illness Insurance”

  1. Sachin Patil says:


    I am not a finance person. I will just tell you about my personal accident policy. I have a personal accident policy from New India for Rs. 50 lakh, for which I pay an annual premium of around Rs. 4000. The caveat here is that highest amount of you can get insured for depends on your income, specifically your income tax return. The premium also depends on your risk – for these they have various tables which categorize the risk.

    My point is that you can’t pull the figure of 1 crore out of thin air. It will depend of your income. But premium will not be very expensive. If you are driving to work everyday, you should go for the maximum you can get.

    I don’t know any thing about critical illness plans. There are so many with varying coverages and varying exclusions; it is very difficult to compare. I am totally confused about this so still have not gone for critical illness plan. I just have my mediclaim with New India. I am from a small city, so I am not very sure about the services of private insurers.

    Hope this helps. If you have any corrections, I would like to know. I will correct my mistakes.

  2. Dear Sylvestor, please check the prem. of the said cover on the respective sites. I doubt you ‘ll be able to pay the prem.for both of these covers as for the sum assured you are asking, it ‘ll be a huge amount.



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