POSTED BY Veerendra ON November 25, 2013 7:33 pm COMMENTS (3)

Dear all,

I am a self employed professional. I want to take a PERSONAL ACCIDENT POLICY for myself and my family. Please suggest which is the best policy.

* Is it possible to take personal accident policy with my brother in laws family also

* Are there companies who offer personal accident policies which are not dependent on the IT returns you file. As I understand the PA policies of PSU insurance companies depends on the IT returns you file. You can PA policies up to 100 times your monthly income.

* Are any companies offering “floater ” personal accident policies.

* I have SECURED FUTURE plan of Tata AIG. In case of any unfortunate accident the can the company from whom I take PA policy refuse compensation ( as I already have secured future plan of TATA AIG). I have also taken JANTA PERSONAL ACCIDENT POLICY from oriental insurance.  Do these policies clash ?

* Are there any companies which offer PA policies for more than 1 year term.

I hope the forum answers all my questions.

Thanks in advance for all the inputs.



3 replies on this article “Questions on PERSONAL ACCIDENT POLICY”

  1. ashalanshu says:

    Dear Veren, the sum assured opted by you ‘ll limit your benefit. It’s better to purchase pure PAP instead of Riders. Start creating a sufficient cover from today from your personal savings. yes in brain dead condition, life cover ‘ll not pay.



  2. Veerendra says:

    Many thanks for the reply.

    Is there any policy/policies which can guarantee continuity of income in case of an unfortunate accident. The plain truth is that permanent disability is more worse than death. The family needs support more in case of permanent disability of the earning member.

    In case of an accident and if the victim ends being” brain dead” he may not even get the benefits of life insurance policies since he is not “dead”.

    How can a sufficient cover be created after disability after accidents.

    Also what is more cheaper to take accident riders on existing life insurance policies or take PA policy.

    what kind of risks do accident riders cover.

    Hope to see a lot of responses and many thanks for the same.



  3. ashalanshu says:

    Dear Veerendra, an important feature of PAPs is to protect income in case of Accident. If there is no income proof, how the insurer ‘ll decide your income and ‘ll cover the same.

    As far as I know, no floater policy is available under PAP.

    No you can not add your BIL’s family in your own PAP.

    TATA policy ‘ll not clash with your Oriental PAP or new PAP.



Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.