30-10-2017 02:40 PM
Accident means any sudden or unexpected event, which leads to a permanent physical disability or accidental death.
23-03-2018 03:20 PM
Personal Accident is the most important yet undiscovered Insurance Product.
But I have heard that the returns of the product are too high compared to its cost.
23-03-2018 04:36 PM
Yeah, Karan, that's true.
In the simplest words, PA Insurance means financial backup for injury, disability or death due to an accident.
23-03-2018 04:48 PM - edited 23-03-2018 04:49 PM
But how does it work ?
I mean how do you know which accident is covered ?
23-03-2018 05:30 PM - edited 23-03-2018 05:31 PM
This product covers all injury, or disability or death happened due to accident.
So the insurance company financially support the insured(one who buys this policy) in these cases:
|Permanent Total Disablement|
|Permanent Partial Disablement|
|Temporary Total Disablement|
|Hospital Daily Cash|
|Transportation or Repatriation of Mortal Remains|
|Family Transportation Allowance|
|Adaptation Allowance , etc.|
Various Insurance Companies have different coverages and premium ratings.
23-03-2018 05:44 PM
Disablement : Handicap, or impairment.
So any accident causing disablement can be taken care of by this policy.
But of course the amount payable for different disability is different.
For example at the time of Permanent Total Disablement entire(100%) Sum Insured is payed by the Insurance Company.
23-03-2018 06:06 PM - edited 23-03-2018 06:08 PM
I would like to add that please share these pieces of information with your parents, spouse, and children.As statistics show that even after having Insurance Policy, in a lot of cases the family members don't know what to do at the time of an accident.
Here is what to do. Please, you should copy these steps and forward it all loved ones for their and your own well being.
In case you are HDFC ERGO Customer, for any event leading to a claim under the policy, please call Toll-free Number 1-800-2700-700.
And give them all the relevant information so that they can inform you about the entire process and help you with this situation.
In case you are not insured with some other insurance company, you should save their toll-free no for the time of loss.
You should always keep Insurance Company's Contact no saved on your phone and on your family member's phone.