Personal Accidental Insurance – Individual or Family

POSTED BY Prasoon ON February 1, 2012 2:09 pm COMMENTS (5)

Bajaj Premium Personal Guard and Apollo Individual Accidental Insurance have variants of the policy under which one can cover Spouse and Child as well with 50% and 25% benefit respectively.

Does this work as individual or floater?

If premium for below three conditions are almost same and that is my limit to spend, which one will be recommended?
1) 25L for self only.
2) 15L for self and 10L for spouse as separate policies.
3) Family plan – 15L, 7.5L(50%) and 3.75L(25%) for self, spouse and child respectively.

I understand that it depends on individual preferences, but I am just asking in general. Also, is it possible to get a separate policy for spouse – if she is not earning?

5 replies on this article “Personal Accidental Insurance – Individual or Family”

  1. Dear Prasoon, I’m glad that now you are able to decide what’s good for you.

    Please asking on the forum. More importantly, even if you are not asking in between, please keep visiting & reading for your own benefit.



  2. Dear Prasson, as your wife is not working, the max. SA for her ‘ll be 50% of the cover you are having for self & around 25% for the kid.

    In my view, if your job involves a lot of travelling, A high S.A for you & some small SA to wife & kid are good.



    1. Prasoon says:

      Thanks again for replying.

      I was just asking this question as I was unable to understand the logic behind Accidental Insurance for non-working spouse and kids. Hospital cash is fine, but death/ptd/ppd benefits are just unnecessary. According to my interpretation, Term and PA insurance are for self/earning members while Health and Critical insurance are for all.

      Thanks for clearing the doubt!

  3. Dear Prasson, if the spouse is a non working one, the policy ‘ll be issued only on the basis of your income & ‘ll be cover having less than your own cover.

    Please check the prem. for each of the mix up you are asking for & decide on your own.

    No PAPs are not family floater plans like health plans. These are individual policies issued under a common proposal from a family or a group.



    1. Prasoon says:

      Thanks for answering first part of the questions.

      Let me simplify the second part. What I actually wanted to know –

      Assuming that premium (XYZ Rs) of below three conditions are similar, which one is correct approach. Also, this XYZ Rs is the maximum amount I can spend for this purpose.

      a) Large S.A. for self
      b) Medium S.A. for self and spouse
      c) Small S.A. for self, spouse and child, in which everybody is covered with at least some amount.

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