INTRODUCTION

Accident insurance provides a cash cover to a policyholder when s/he suffers injuries as a result of an accident. While insurance helps a policyholder pay off hospital and medical bills in case of accident injuries, it provides cash benefits to family members if the policyholder dies in the accident. This insurance, applicable 24 hours a day, 365 days a year, is also commonly referred to as personal accident insurance.

Under personal accident insurance, the policyholder, if injured, receives cash benefits every month, just like income, for as long as s/he is unable to work due to the accidental injuries. This income is non-taxable and does not exceed the policyholder’s after-tax earnings minus the state benefits s/he can claim. In case of death of the policyholder due to an accident, the family receives a specific lump-sum amount.

Definitions of accident insurance

A. In insurance, Accidental death and dismemberment (also known as AD and D) is a term used to describe a policy that pays additional benefits to the beneficiary if the cause of death is due to a non-work related accident.

B. Is a type of private insurance enabling the policyholder to get a certain sum of money in case of body injury damage due to the accident.

They are many Accident Insurance and they are:-

Car Accident Insurance Auto Accident Insurance Accident Insurance Claim Automobile Accident Insurance Accident Life Insurance Accident Insurance Policy Accident Protection Plan etc.

Personal Accident Cover In India As Well As Any Other Location Worldwide:-

Entry Age:- Any individual in the age band of 18 years to 69 years can opt for the plan.

Sum Insured:- Rs 15 lakh to Rs 75 lakh. Family Cover:- Aiong with “self only” we are offering “self and

family” cover where in spouse and children (max upto two children) are covered under a single policy-provides 50% cover for Accidental Death and Permanent Total Disability to spouse and 10% to children.

Policy Effective Date:- 15 days after receipt of payment and proposal from duly filled and signed.

Easy Payment:- By credit card or cheque.

Types of Personal Accident Insurance Policies

There are eight common types of personal accident insurance policies:

Individual: This policy can be taken by any individual. The benefits usually enclose partners and children. Since several activities are excluded from this policy, it is not as useful for people who love adventurous sports, like mountaineering and rock climbing.

Children: The purpose of this policy is to provide financial help to parents if they are unable to work or if they incur expenses as a result of an accident.

Group: This policy is used by companies to cover employees for expenses related to accidents.

Self-employed: Since self employed individuals are not eligible for employee benefits, they are worse off when injured in an accident.

Team: Through a team accident insurance policy, organizers can seek cover for all the members of a sports team.

Professional: This policy is specifically for self employed professionals, such as a sportsperson, actor, lawyer or doctor, who have special requirements.

Over 50: This policy targets people over 50 years of age, as accidents can cause more grievous injuries to them.

Travel accidents: This policy offers benefits in case the policyholder meets with an accident while traveling.

There are varied accident insurance policies to suit different needs. One should understand and choose the policy with utmost care.

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. Impact from accident can be as small as a scratch to as big as death – impact can be temporary or sometime even permanent. 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 family to cope up with financial hardship but what about an accident where one looses body parts & that impacts his earning abilities. In such situation Accidental Insurance can be very helpful.

Features of Accidental Insurance

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

B. 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.

C. For Non Earning Members: Few insurance companies provide accidental insurance to dependents but have limitation in sum assured. 25% to 50% of the proposers sum insured with maximum limits in rupee terms.

Benefits of Accidental Insurance Policy

Comprehensive Accidental Insurance policy provides benefits in 4 cases:

A. Accidental Death:-

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

B. Permanent Total Disablement:-

Some time a person met with an accident & loses his body parts – may not be able to work in future. In 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

C. Permanent Partial Disablement

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

D. Temporary total Disablement

Sometime it can happen that anyone met with some serious accident but there is no permanent loss. But 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. Weekly benefit is normally 1% of your sum assured for maximum 100 weeks. There is also a maximum limit according to your income.

E. Other small benefits

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

How accidental policy premiums are decided:-

Accidental policy premiums do not depend on the age of 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 category changes premium substantially increases – this premium doesn’t include service tax.Premiums can be down if you are applying as family or group.

Other ways to buy Accidental Insurance:-

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

Personal Accident Insurance:-

Accidents can happen to anyone, anytime. It takes only seconds or minutes to happen, but may take away the savings of many years, as aftermaths of accidents can be severe. In such a scenario, don't stretch your savings. Get your life back on track, with the financial backing of Royal Sundaram Personal Accident Insurance.Our Accident Insurance offers global cover of up to Rs. 10 Lakhs, protecting families from financial instability in case of disability or death of loved one due to an accident.

Who can be insured:-

Any Indian resident who falls in the age group of 18 years to 70 years, can avail this Personal AccidentPolicy. You can also insure your dependent children between 5 years to 18 years.Get a discount of 10% on total Premium on buying this policy online, for 3 or more family members.

Policy will cover :

Permanent partial disability:-

In the unfortunate event of permanent partial disability of the person, a certain percentage of the Sum Insured will be paid to the person. It is determined by the extent of loss. You can get more information about it in the Terms and Conditions page.

Permanent total disability:-

In the unfortunate event of permanent total disability of the person, the entire Sum Insured will be paid to the person.

Death:-

In the unfortunate event of death of the person, the entire Sum Insured will be paid to the person's nominee. We request you to ensure that you provide a nominee for every family member insured under Personal Accident Insurance.

Key Benefits:-

Royal Sundaram Personal Accident Insurance offers global Personal Accident cover and value-added services.

Key Benefits of royal sundaram personal accident insurance

Instant Policy, No documentation or Medical Test. 24X7,worldwide cover. Renew policy anytime, anywhere with InstaRenew. Dedictaed Customer Services Helpline - 1860 425 0000. Facility to chat online for information. Easy, ISO certified Claims process. Instant coverage, within 5 minutes.

Exclusive features of personal accident insurance:-

Cover for Permanent Partial Disability - In the unfortunate event of permanent partial disability of the person due to an accident, we will pay a certain percentage of up to 75% of the Sum Insured, depending on the extent of disability.

Cover for Permanent Total Disability - In the unfortunate event of permanent total disability of the person due to an accident, we will pay the entire Sum Insured to the person.

Cover for Death - In the unfortunate event of death of the insured due to an accident, the entire Sum Insured will be paid to the nominee.

Cover for transportation of mortal remains - In the unfortunate event of accidental death, we will pay the nominee a sum of up to Rs. 10,000 towards transportation of the mortal remains to residence.

Education Grant - In case of death or permanent total disability, we will pay an education grant for the benefit of dependent children of up to Rs. 5000 per child (for up to 2 children).

Personal Accident Insurance Pays you back:-

Discount of up to 10% on insuring 3 or more family members. In a claim-free year, if the Policy is renewed without any breaks, the

benefit under Death and Permanent Total Disablement coverage will be increased by 5%, up to a maximum of 25%.

Accidental Insurance Policies in India

what an accidental insurance policy gives you ?

Think for a moment , what all can happen if one meets an accident , what can happen , what are different kind of end results of it ? An Accidental Insurance policy covers almost all of them. Below is table which given you an idea on what kind of situations are covered by accidental policies.

1. Death

In case of a death due to accident, the policy would pay 100% Sum Assured to the nominee. Some companies also pay a “Children?s Education Bonus” of 5000 or 10000 for maximum of 2 children.

2. Permanent Total Disablement

This means that in case there is a permanent total disability, in which a person is disabled for life, the SUM assured is paid to the person. Some companies also pay around 125% or 110% , depending on the company. Example – Loss of

1. both hands or both feet2. one hand and one feet3. one (hand or foot) and an eye4. loss of sight of both eyes OR speech OR Hearing of

both ears

3. Permanent Partial Disablement

In this case, a small percentage of SUM assured is paid on weekly or monthly basis . For example – 1% of sum insured is paid every week up to 100 weeks. Example below

1. Loss of Index Finger or thumb2. Loss of hearing in 1 ear3. Loss of 1 eye sight4. Loss of 1 hand

4. Temporary Total Disablement

This means that for some weeks or months a person is totally disabled and will not be able to work and earn money. In this case most of the companies pay a part of sum assured , some pay 100% and some pay 50% , there is also a cap in this case , like maximum 5 lacs or 10 lacs. Example below

1. A bed rest of next 3 months2. Fracture in hands or legs

Other Features:-

Some companies covers claims arising out of Terrorism or acts of Terrorism

No health check-up required for policy issuance Worldwide coverage of the policy It gives coverage starting from 5 lacs to 50 lacs Free lookup period of 15 days 5% per claim free year to a maximum of 50%. Family discount of 10%

What is not included (Exclusions):-

Accidental policies do not cover Deaths or disablement because of

Intentional self-injury, suicide or attempted suicide. Influence of intoxicating liquor or drugs By committing any breach of law with criminal intent Suffering from any pre-existing condition or pre-existing physical or

mental defect or infirmity. Aircraft pilots and crew , Armed Forces personnel and Artistes

engaged in hazardous performances are totally excluded

Premiums does not dependent on AGE:-

The premium of accidental policy does not depend on age . So if you are 25 yrs old or 50 yrs old , the premiums would be same, rather it would depend on your working conditions and nature of your job. If you are a software engineer working in Bangalore , then your chances of meeting the accident is different from an army personal working in border or a worker in a factory which has dangerous machineries. So each kind of job profiles are divided into different risk level , sometimes its 1,2,3 and sometimes its just 1,2 . Risk level 1 are those who are less risky and their premiums are lower and risk level 2 are high risky category and their premiums are higher. Let me give you an example

underground mines, explosives,magazines, workers whilst involved in electrical installation with high tension supply, jockeys, circus personnel,engaged in activities like racing on wheels or horseback,big game hunting, mountaineering, winter sports, rock climbing, pot holing, bungee jumping.

Risk Level 1 (Low Risk) Risk Level 2 (High Risk)

1. Doctors2. Engineers3. Bankers4. Accountants

1. underground mines workers2. jockeys, circus personnel3. Mountaineering, rock climbing & bungee jumping,

Note that some companies have a list as 3 different risk levels – 1,2,3

Examples of some good accidental policies:-

Below I am listing down some of the accidental insurance policies and their different features . If you see all of them , you will realise that all the policies have something good or bad in them. This chart is made with collecting information from different portals and companies websites. Note that the premiums below are for Low risk professions (Level 1)

ACCIDENT INSURANCE TYPES:-

1. All vehicles including 4×4 vehicles should have insurance to cover the costs of damages and injuries due to accidents. If you don?t have insurance then you will be forced to pay to not only fix your vehicle but to fix the other person?s vehicle. You will also be liable for any medical bills that they have as well as your own. You should therefore get insurance to protect yourself and your assets. Before you decide on a type of insurance to get you should review the types of insurance that are offered. This will allow you to pick insurance based off of your needs.

2. Liability is the minimum type of insurance offered to drivers and is also the lowest costing. It will cover damages done to other vehicles if you get into an accident. It also covers injuries to other people if they are in the hospital or can?t work. When you have liability insurance you are not covered for any damages or injuries incurred upon yourself you?re your vehicle. This insurance is best for people who don?t drive much or have a car not worth insuring.

3. Many drivers worry about their vehicle being vandalized or stolen. In highly populated areas this is common if you have an expensive vehicle. If you have full coverage you can add a type of insurance to your plan that will add a minimal amount to your rate while protecting your vehicle. You should be careful as some damage when done by weather is not covered.

4. To get your vehicle completely insured you will need collision insurance. This covers anything that happens to you or your vehicle in an accident. When you add this to comprehensive and liability insurance you will find that your 4×4 is protected from just about everything. Since it is very expensive to get this type of insurance, it?s best to have it only on a newer 4×4 that is worth a lot. In any case, collision insurance will leave you without any worries.

5. You will need to get a special type of insurance if you plant o use your 4×4 for off road situations or for competitions. This type of coverage will be more expensive than normal coverage because you?re vehicle is at an increased risk to being damaged. Off road insurance will cover the off road situations that your normal policy won?t cover. If you don?t have off road insurance then you will not want to take the risk of going off road without it. If you do and the insurance company finds out they may cancel your policy. It is possible to get this type of insurance for just a day rather than having to pay for it every month.

6. Choosing the proper insurance for your 4×4 vehicle can be difficult. You need to be careful when you?re looking at various companies? policies as they are not all the same. Some companies have different guidelines they use in their policies. It?s important to ensure that the policies are as close to each other as possible when you?re comparing rates from different companies.

The need for personal accident insurance:-

Accidents can happen to any one at any time. You are a very lucky person if you manage to go through life without having an accident. Road crash, house fire, assault, workplace accident or a simple trip. These are common. The headline stories of fires, murder and terrorism are not common. It is the everyday workplace, home and road accidents that claim most victims.

The main thing with accidents is that they are random and can happen to anyone anytime anywhere. Most accidents are minor, but others can be more serious. In the blink of an eye, your life could be changed for ever. Accidents happen every day, everywhere.

Just look at these latest statistics from the Royal Society for the Prevention of Accidents (RoSPA):

1. Accidents on the roads:-

During 2004 there were 280,840 casualties on British Roads That includes 3221 killed and 31,330 seriously injured

2. Accidents at home:-

Surprisingly, your home is one of the most dangerous places you can be.

Home injuries send an incredible 2.8 million people to hospital Accident and Emergency units, with an unknown number going to GPs for less serious accidents.

Every day, ten people die and 8000 people seek medical treatment as a result of home and garden accidents in the UK.

Most common accidents are falls from height, choking, poisoning, burns and scalds.

3. Accidents at work:-

You are also at risk at work.

In 2005 around 2 million people were hurt at work and required treatment at a hospital casualty department. In 2005 over 200 people died, and over 350,000 were seriously injured. Many had to take weeks off work.

4. Accidents involving children

The saddest figure is the annual toll of child deaths from accident, including 260 road casualties

Every year, 3 million children suffered injuries which require attendance at the A&E department of a hospital. A million are injured in and around schools, recreational areas, and sports facilities and so on -and 2 million in and around the home.

If a serious accident befalls you, then you may be unable to work for the rest of your life. You may need money for income or adapting your home.

You have a one in seven chance of being off work for 6 months due to illness or accident, during your working life.

Thankfully, medical advances and better remedial care mean that more people can return to work and normal life.

You may expect the state to support you. You may get a small amount of benefit, but may have to go through unpleasant interviews, medical tests and a review of your finances. Sadly, with many fraudulent claimants, the state treats everyone claiming benefit with great suspicion, guilty until proven innocent.

If you are a specialist tradesperson, or professional, a serious injury may mean that you can work, but not in the profession or type of occupation you were used to. Politicians may dislike the blunt truth, but in the modern world, the state expects you to take any form of work on offer. They may even force you to go on training

programmes, before they decide whether or not to give you a handout.

By law, an employer must pay most employees statutory sick pay for up to 28 weeks. This will almost certainly be a lot less than your full earnings. Few pay for longer. If it is obvious you can never return to work, they may stop paying and terminate your employment. Not all employers pay willingly.

Personal accident plans : Types of policy:-

The insurance industry can confuse customers and itself with the titles it gives to types of policy within the wider definition of personal accident Insurance.

There is a thin dividing line between personal accident and income protection policies.

Simple personal accident policies only pay a cash sum following an accident where you are injured

Simple income protection policies pay when you are off work following an accident

Where they merge is when an income protection policy also includes illness, and a personal accident policy includes sickness and/ or pays monthly benefits rather than a cash sum.

We regard policies which cover an accident and sickness/ illness by paying a cash sum as Personal Accident

We regard policies which cover accident and illness by paying a monthly benefit as Income Protection.

But it is not always clear-cut so we suggest you read both sections

Policies to protect mortgages, loans or credit card debts are frequently called Accident Sickness Unemployment (ASU) policies; these are not Personal Accident plans, but Income Protection ones.Insurers themselves often confuse you by using vague product names like " Protection " which can include income protection, critical illness, life, personal accident and other products. - or a flashy name which gives no indication of what it covers.

There are three main ways to partially or wholly protect you against the costs of long term care.

On some products, you only get money if you qualify as needing care. On some products, you get money anyway, but there is some help in

arranging care if needed. On investment and Equity Release products, you choose whether or

not to use the proceeds on care.

The products do not always fit neatly into one or other category. Increasingly, we see products, which offer a range of options now, and in the future.

How much does it cost?

The cost of a personal accident insurance plan depends on:--

Width of cover How much you want to receive. If any benefits are income rather than cash, for how long the benefit

is paid Extra options bought

Then there are factors personal to you, which affect the price of personal accident insurance

Age- premiums can rise with age Sex - women tend to pay more Occupation; a manual job will be more of a risk than an office or

shop worker Activity –what activities you do Health history ;of you, and sometimes of your family too How many people are covered

Not all insurers have the same views on the above factors. Although there are sex discrimination laws, these do not apply to insurance pricing.

Typical exclusions and limitations :-

This first main exclusion is not usually listed in insurance policies as insurers think it obvious. If you have an accident, you can only claim if you have a physical injury.

The policy will not pay for a car, property, and animals, damaged or lost. A policy will not pay for inconvenience, lost work, injured pride or anything else like that.

There are common exclusions on most personal accident plans, including

Disability due to, or caused by HIV/AIDS Normal pregnancy and childbirth War Self-inflicted injury- including actual or attempted suicide Criminal acts Misuse of alcohol or drugs Failure to follow medical advice Residing outside the UK

Taking part in any dangerous or hazardous work, activity, sport or hobby

Driving with more alcohol than is allowed by law Motorcycling Engaging in military duty

Many policies limit accidents to those within the UK. Many policies have age limits.

How to buy Personal Accident Insurance:-

Available with almost all general insurance companies Available without any medical tests of any kind Amount of insurance is restricted and is linked to the annual income

of the person Salaried people have to provide their salary slip and others are

expected to provide their income tax returns by the help of which the insurance company can decide the amount of insurance cover to give

In most of the companies there is also a provision of a cumulative bonus for every claim free year.

Accident insurance is the cheapest and smartest way of filling the insurance gap especially for the young who are aware of the importance of insurance and whose salaries are still not very high.

What to do in case of Car Accident?

Car accident insurance claims begin with road traffic accident. Car accident is a road traffic incident which usually involves one road vehicle colliding with either another vehicle or a road user and which may result in injury or property damage, or possibly death. Accident can be of different nature, like for cars it can be due to collision or non collision.

Accidents can be very stressful and lead you to trauma. There is the fear about what impact the accident will have on your driving record and insurance. Such thoughts can make it hard to think clearly and respond properly. And if there are injuries, the stress can be amplified. But that's when a clear head and quick action are really crucial. First calm down, call for the police and seek advice from a solicitor, they usually offer good advice when approached by the affected party. There are different types of accident claims like the claims that can be made for road accident. The following are the checklist to be kept in mind when preparing to file road accident claim:

1. It is best to record and make a note of all the information that you can observe at the place where the accident took place. A keen observation will help you when making the claim. Give all the minute details when you are making the accident claim.

2. Make note of witnesses if there are any. It is helpful to collect the addresses and phone numbers of those who witnessed the accident, such eye witnesses can throw light on the cause of the accident.

3. Take the pictures of the place where the accident took place. Pictures of the accident site will always add weight to the claim. It will prove that you are right and the accident is a result of the negligence of the other party.

4. If you are injured in the accident the nature of the injury has to be recorded.

5. If the police personnel are available in the accident site it is important to collect the case number from them, if a case is registered. Also the insurance details of the other party have to be noted.

6. Calm down and go to the hospital after the accident to get treated and get the doctor's opinion about the nature of the injury.

7. Keep track of all the expenses that you have incurred as a result of the accident.

8. Another important advice on accident claims is the time frame to be kept in mind. The victim has to file the claim within a stipulated time period. Call your insurer or the agent to find more about claim procedure.

Just relax and take some time to file your claim. However it is advisable to watch out the level of loss. If the loss is on the higher side file the claim, but if it is nominal and almost close to the excess you need to pay, then avoid claiming to avail discounts your company will offer in the renewal.

Personal Accident Health Insurance Policy:-

The increase in rate of accidents while travelling by road, rail or air makes it imperative that you insure yourself against such mishaps. A Personal Accident Health Insurance will cover up for losses resulting from accidents which may occur anytime.

The Apollo Munich Health (a joint venture between Apollo Hospitals Group and Munich Health top private health insurer world-wide), offers you the Individual Personal Accident Plan. By purchasing this Personal Accident Policy, you can save yourself and your family the financial hardships that unforeseen accidents entail. It covers the insured member or his/her family member (includes spouse and dependent parents and children) and comes in a package with benefits like family transportation, transport of imported medicines, purchase of blood, modification of residence and vehicle. The Apollo Munich Health will be your friend in such times of crisis.

This policy is issued for a period of one year and covers persons in the age group of 5 years to 70 years. A child below 5 years can be covered by the Personal Accident Insurance Policy from the 91st day of birth, provided both parents are insured. The Personal Accident Insurance benefits are as follows:

Get a lump sum payment in the event of death due to accident.

In case of accidental death or total/partial disability arising from an accident, get 50% of sum insured per dependent child (maximum of two children) for his/her education.

Under accidental death or partial/total disablement claim, get reimbursement of expenses incurred in transporting one immediate family member to the hospital.

Get a weekly allowance in case of total or partial disability resulting from an accident.

Get your medical expenses reimbursed for in-patient treatment in a hospital.

Get a lump sum payment in the event of fracture of bone due to accident as per the scale.

Personal Accident Insurance – Product Summary:-

Accidents happen anytime, anywhere. So why not seek the peace of mind by purchasing a Personal Accident insurance policy from NTUC Income?

Special features of the policy are:-

Worldwide cover 24 hours protection against sudden, unforeseen events.

Provides coverage for commercial airline crews, full time national servicemen, firemen, policemen, regular national servicemen, prison wardens, steermen, armed security guards, carpenters and woodworking machinists.

No medical examination required.

Comprehensive benefits at very attractive rates

Benefits

Accidental Death Permanent Disablement (PD) Accidental Medical Expenses Additional Accidental Death Benefit for Public Conveyanc Weekly Cash Benefit Daily Hospitalisation Income Emergency Evacuation & Repatriation

Free Extension cover:-

Full terrorism * Riot, strike, civil commotion, hijack, murder, and assault Disappearance* Exposure* Food poisoning* Suffocation*

General Exclusion:-

The policy generally excludes:

pre-existing physical or mental defects, pregnancy, suicide, HIV or HIV related illness

war risks motorcycling climbing or mountaineering necessitating ropes or guides, and other

hazardous sports or activities.

CONCLUSION

Accident Insurance should taken by every person or individual who possess a vehicle so that he can be insured form the risk raises by accident taken place .Accident insurance provides a cash cover to a policyholder when he/she suffers injuries as a result of an accident. While insurance helps a policyholder pay off hospital and medical bills in case of accident injuries, it provides cash benefits to family members if the policyholder dies in the accident. This insurance applicable 24 hours a day, 365 days a year, is also commonly referred to as personal accident insurance.

BIBLOGRAPHY

http://www.economywatch.com/insurance/accident/

http://www.royalsundaram.in/accident-shield/accident- shield-plan-premium.aspx

http://www.income.com.sg/insurance/pa/

http://www.independentcourt.org/importance-of-accident- insurance-in-a-modern-life.html

http://www.apollomunichinsurance.com/accident-health- insurance/personal-accident-insurance.aspx

http://www.jagoinvestor.com/2011/12/accidental-insurance- policies-in-india.html

http://www.policybazaar.com/knowledge-base/car- insurance/accident-dos.html

http://causingaccidents.com/accident-insurance-types/

http://www.privatehealth.co.uk/healthinsurance/personal- accident-insurance/guide/overview/

http://www.privatehealth.co.uk/healthinsurance/personal- accident-insurance/guide/typical-exclusions/