Personal Accident Insurance Policies in India – With Comparision

POSTED BY Jagoinvestor ON December 12, 2011 COMMENTS (428)

Did you ever know someone who met with an accident and he was the main bread-winner of the family? Mostly yes. A personal Accident Insurance plan is policies that cover a person from accidental death, accidental disability and several other features. There can be very bad consequences of meeting an accident like death or pause in income, ranging from a few weeks, months to even years.

A term plan can only help in death and a health plan can help in case you are hospitalized, some of these policies also offer accidental riders, but these riders are not as comprehensive as standalone Personal Accident Insurance policies have. In these articles, let’s see the benefits and features of Personal Accident Insurance policies.

Ajay was one of the best employees of his company based in Bangalore . He bought a term plan as soon as he realised the important of securing his life. He also bought a health coverage to secure his wealth (not health). He had recently bought a home through loan and he was also investing for his 2 kids future . Ajay was the only one earning in his family which also had his mother as dependent on him.

It was the last working day of the week just before Diwali holidays and he had to rush home early that day. He was as attentive while driving as he was always, but he forgot that accident happens not because you are careless , but because other can be damn careless … While Ajay was taking a u-turn another car slammed into his car which was coming with a lot of speed.

It was a serious accident and what Ajay never imagined happened ! . Both of his hands were non functional after the accident . Being a senior programmer in his company, he knew that his future is lost now . This one incident changed him life. While his income stopped, his expenses at the house, EMI etc had to still continue.

His term plan could not pay him because he was not dead. His health insurance plan covered the expenses for hospitalization, but only covered for a basic amount incase there was a temporary disablement. But Ajay case was not covered in any of his existing insurance policies. At this point in time, if Ajay had a Personal Accident Insurance Policy, it might have helped him a lot.

If you are a reader of this blog. Most probably you must be living in a big city, most probably you are salaried class and obviously you must be travelling from home to office and office to home, you will do it every day, for months and years .. that would be thousands of days. The chances of death or getting hospitalized for some illness is far lower than the chances of meeting an accident these days. So in today’s world more than a Life Insurance and Health Insurance, the first thing which you need is an accidental insurance policy and why not. Its costs so less that one can afford it very easily. You can buy a 10 lacs accidental cover anywhere from Rs 800 to Rs 1,500 per year depending on the company and benefits. But one thing is sure that it’s very cheap.

what a Personal Accident Insurance policy gives you?

Think for a moment, what all can happen if one meets an accident, what can happen, what are different kinds of end results of it? An Personal Accident Insurance policy covers almost all of them. Below is a table that gives you an idea of 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 a 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 feet
  2. one hand and one foot
  3. one (hand or foot) and an eye
  4. 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 a weekly or monthly basis. For example – 1% of the sum insured is paid every week up to 100 weeks. Example below

  1. Loss of Index Finger or thumb
  2. Loss of hearing in 1 ear
  3. Loss of 1 eyesight
  4. 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 the sum assured, some pay 100% and some pay 50 %, there is also a cap in this case, like a maximum 5 lacs or 10 lacs. Example below

  1. Bed rest of next 3 months
  2. Fracture in hands or legs

Other Features

  • Some companies cover 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 do 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 the same, rather it would depend on your working conditions and the nature of your job. If you are a software engineer working in Bangalore, then your chances of meeting the accident are different from an army personal working in the border or a worker in a factory that has dangerous machinery. So each kind of job profiles are divided into different risk level, sometimes it’s 1,2,3 and sometimes it’s 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, potholing, bungee jumping.


Risk Level 1 (Low Risk) Risk Level 2 (High Risk)
1. Doctors
2. Engineers
3. Bankers
4. Accountants
1. underground mines workers
2. jockeys, circus personnel
3. 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 realize that all the policies have something good or bad in them. This chart is made by collecting information from different portals and companies’ websites. Note that the premiums below are for Low-risk professions (Level 1)

Accidental Insurance policies in India

If you see the above table, you can see that on absolute level Bajaj Allianz seems to be the best option and it’s the recommended one. The best part is that the claim settlement ratio is high and that’s the biggest parameter people look for.

Please comment on what do you feel about Personal Accident Insurance policies and what has been your experience in that?



428 replies on this article “Personal Accident Insurance Policies in India – With Comparision”

  1. Varun Patwardhan says:

    Hi Manish,

    Could you please suggest a company for buying a personal accident policy for an amount of 50 lakhs?


  2. Arpan says:

    Thanks for the nice informative eye opening article.
    If I have 2 personal accidental insurance policies, covering 20 lacs each, can we claim both in case of any temporary or permanent disability?
    Asking because Bajaj or most of them cover only 25 lacs. If we want to cover more, what will be the options?
    Also if the disability happens due to paralysis or via some disease (stroke, cancer etc), will it be covered?

    1. What is covered and what is not, is mentioned in your policy document. Its better that you have a look there.

      1. Arpan says:

        Thanks Manish, for the answer.
        However I’ve not found details about the following queries:
        If I have 2 personal accidental insurance policies, covering 20 lacs each, can we claim both in case of any temporary or permanent disability?

        1. I will have to check that !

  3. Zeeshan says:

    I plan to buy a personal accident policy for me and my wife. Ideally it should include child education benefits as well. Any clue with which insurance provider should I go ahead? Intended amount – 20L

    Also, how’s Religare Secure plan?

    Look forward to your reply.


    1. I have no recommendation as such , but you can just leave your details at

      and we will connect you with our trusted partner who will help you select the best plan for your requirement


  4. Yaahpal says:

    Hi Manish,

    The best personal.accident insurance company in pvt & govt sector.
    Pls suggest me.

    1. There is no much difference …

  5. Bhupesh says:

    Normally, any single Insurance Company does not provide more than Rs. 30 Lacs for individual person. But if want to go for higher sum insurance , How much maximum PA that i can insure myself with multiple Insurance Company policies ?

    1. You can insure yourself with multiple insurers !

  6. sanjaykumar says:

    hi! is it true that normally after 4 years of term plan subacription the claims are not rejected?

    1. Yes, not as a rule it ca be done !

  7. Aditi says:

    Thanks for valuable information
    Need your views –
    whether to buy Term Insurance with additional Accidental Death Benefit as additional rider or to Buy 2 different policies from 2 different companies
    1. Term Insurance policy & 2.PA Policy for Accidental Death.

    1. I suggest buying it from a single company only and you can add riders if you really feel the need of it, else not !

  8. Bineet says:

    Hi Manish, that is a real good informative and helpful write up about Personal Accidental Insurance (PAI). Thanks!!

    I have a few question about PAI; if you can answer or guide me to any article regarding the same, it’ll really help. Below are my queries:
    1. Lots of Debit/Credit cards provide PAI service with it. So suppose I have a card that is providing me 10 Lakh cover for PA, shall I still go for a separate PAI?
    2. Suppose, I am using two debit cards from same bank, both giving a cover of PAI 10 Lakh each. Does it mean I have a total PA cover of 20 Lakhs?
    I would really be thankful if you can guide on this. Thanks!!
    B Regars,

    1. Avinash Sardesai says:

      Bineet, just as you should not depend on your employer for term insurance and have your own term cover, similarly you should not depend on accident cover offered by a debit card provided by some bank.
      Also read fine print carefully. Generally this cover will be only for accidental death only and may not cover disability that should be a basic purpose of this cover. Also this cover may be related to swiping some amount on the card in certain timeframe. So consider this as an additional benefit if available, but don’t look towards it as a primary accident insurance cover.

    2. Will write in article on this.

  9. Joy says:

    I would like to have your feedback on current accidental and Mediclaim policies and the best companies to go for who have good claim settlement ratio.

  10. Joy says:

    Thanks for posting your sugestions

  11. AMIT says:

    Hi manish , can you plz jelp me with claim settlement ratio of oriental and national for accident policy.

    I liked the bharti axa smart individual accident plan, its better than natioan & oriental, but their claim settlement ratio is only 69%

    If can get the comparison of claim settlement ratio, it’ll be easy to decide between private & public sector insurance company.

    1. Hi Amit

      I suggest you dig it out of IRDA report. Else wait for my article on this

  12. Prabhu says:

    Hi Manish,

    Thanks for the informative article.

    For the sake of clarification & better understanding, i’m reframing the question which was already asked but with a different context. Request you to clarify it.

    How do multiple personal accident policy work for same person? For example, I have two personal accident policies with coverage of 10L and 25L. Typical case is one taken by employer and other taken by self. And I lost my legs (PPD), for which amount allowable by their tables may be 1L and 2L individually. So am I eligible for 1+2=3L? Or maximum of 1L and 2L i.e. 2L? Here, there is no expense occured, the claim is for disability.

    Will I get benefit from both personal accident policy in case of PTD / PPD?

    Also, just to inform you that 80D exemptions are available in case of Bajaj Allianz Premium Personel Guard.If you add on “Accidental Hospitalization Benefit and Hospital confinement allowance”, the amount of premium you pay is exempted under 80D. I got this confirmed by Bajaj Allianz.

    1. You will get benefit from only one of the policies which ever you choose


  13. rattan says:

    I want to know that disability from Paralysis attack or from any medical negligence is also covered or not in accidental policy ?

    1. It would be written in the policy document if its covered or not !

  14. harjit singh says:

    sir i am already cover in ESIC and i already taken Personal accident policy, due to accident can i take benefit from ESIC and PA policy both

    1. Yes you can do that

  15. Suraj says:

    Hi Manish,

    Great forum got lot of information about PA policies.

    Just want to know what are your views regarding HDFC Ergo Plan?


  16. rahul shah says:

    I got quote from lic for me and my wife 50+50 lacs term insurance for 31 years only premium 44000 and from edelweiss tokio I got 22000 (41 years)for same +ATPD RIDER for 50+50 lacs
    Why is so much difference in premium of any insurance companies

  17. rahul shah says:

    can someone suggest me in below
    i am planning to buy edelweiss tokio (my life +) term insurance 50 lacs with rider ATPD 50 lacs for me and my wife(same) its total premium comes for both 19710/-annually for next 41 years
    i am planning to travel around world as many destinations i can cover so i am little bit worried about accidents so i want to insured

    1. You can read their fine prints if they cover you outside India or not ! ..

  18. ANKIT.AGR26@GMAIL.COM says:

    I was searching for a Personal Accident Policy for myself. Although my employer covers me for the same for a decent amount, i still wanted to be on a safer side in case i change my job and the new employer might not offer an accidental policy and i ddint wanted to risk the gap in coverage.

    I was looking at a basic cover of 50 lakhs (Death) combined with Permanent Total Diability (PTD) + Permanent Partial Diability (PPD) + Temporary Total Diability (TTD) which is also known as weekly benefit coverage.

    The basic things i researched was for Sum Insured (50 lacs) availability of all the above mentioned covers, inclusion of terrorism coverage, maximum cumulative bonus on claim free renewal, maximum allowance for weekly benefit and presence of family discount in the policy if i want to cover my spouse and children in the future (i am unmarried now). Add on covers didnt bothered me much because if the basic policy is good, it automatically compensates for additional covers.

    Sum Insured for All Policies: 50 Lacs (Death+PTD+PPD)

    Sum Insured for All Policies: 10 Lacs (TTD) -This is the maximum which most insurers offer as the weekly benefit is maximum Rs 10K or 1% of Sum Insured which ever is lower)*IFFCO Tokio might offer Rs 25K per week (mentioned in their wordings but 6K mentioned on their website)

    IFFCO TOKIO – RS 5650 (Median Policy, offers 100% in PTD, 50% Bonus, Terrorism, Family Discount)

    BHARTI AXA – RS 4500 (Best in this range, offers 150% in PTD, 50% Bonus, Terrorism, Disability due to Medical Reasons – Total Paralysis. No family discount)

    Bajaj Premium Guard – Rs 7300 (Premium too high, offers 200% in PTD, 50% Bonus, Terrorism)

    Tata AIG – Rs 5700 (Avg Policy, offers 100% in PTD, 25% Bonus, Terrorism, Disability due to Medical Reasons – Total Paralysis)

    Apollo Premium – Rs 5225 (Bad Policy – Not Covers Terrorism)

    Future Generali – Rs 4250 (2nd Best Policy, Lowest Premiums, offers 100% in PTD, 25% Bonus, Terrorism, Family Discount)

    My Verdict: Go for Bharti Axa as it offers 150% PTD coverage and 2nd lowest premiums

    1. Hey ANKIT

      Thanks for sharing your experience with all of us. It was a great learning.


    2. rahul shah says:

      Check out edelweiss tokio my life+ with ADB and ATPD riders

    3. Arun says:

      I checked Bajaj. They are not specifically mentioneing that terrorism IS covered. Infact they have mentioned that war is not covered. The reason u may reject bajaj is that their max SI is 25lac.

      1. Arun says:

        I checked Bharti AXA…they too dont mention terrorism. And exclude war
        And u can reject it as they offer max 30lac.

  19. Dimple Garg says:

    Dear Mr. Manish,

    We are working as subcontractor for residential projects by big and reputed developers. we do the work there as subcontractor. It is a partnership firm with around 10-20 labour.
    Is there any accidental policy which we can take for our labour (individual or group) to secure them in case of any incident.


    1. I am not very sure on that. You should contact health insurance companies for this .

  20. VENKATESH says:

    My monthly gross salary is 18k and I am a PSU employee can I take two pa policy for 10lacs each

    1. I am not sure if the company will allow it just based on the policy number. They will have some limit .

  21. S Patel says:

    Dear Manish,

    I was going through the blog and got few question.
    Q> What kind of death is covered in basic Term Insurance? Does accidental death not covered within it?
    Q> Does the Personal Accident Insurance cover accidental death?
    Q> Where does the disability due to critical illness covered?

    1. 1. All kind of death are covered in it

      2. Yes

      3. Disability due to critical illness is not covered

  22. Kiran Gohel says:

    Hi Maneesh,

    I was checking Bajaj Allianz Personal guard policy documents and found that in case of PTD (Permanent Total Disability) & PPD (Permanent Partial Disability) it is mandatory to submit Disability Certificate from Civil Surgeon of Government Hospital.

    What in case if a person is admitted to private hospital?

    Can you please give more details on it?

    I am planning to purchase personal guard for myself.

    Thanks & Regards,

    1. Thats ok , you can get admitted to private hospital , But you will have to separately go to govt hospital and complete this task

  23. Akshay Bharde says:

    Dear Manish,

    First of all let me tell you that we all are grateful to you for JagoInvestor initiative.

    I have always taken help from this blog of yours.
    I have also read the wonderful book of your, “16 principles…”.
    The book is fantastic.
    Luckily, I have started early and really comfortable with the financial plan that I am following.

    However, initially made mistakes like took accidental rider with my term plan.
    Now, preventing such mistakes in case of wife.
    I am planning to buy Future Generali because the benefits are same as Bajaj Alianz in spite of huge premium difference. Sum assured…the max 25L is what I am planning.
    Is it a correct decision.
    I know that this is an old thread.
    Please guide me.

    Akshay Bharde

    1. Akshay Bharde says:


      Also, tried reading latest claim settlement ratios from IRDA site.
      Unfortunately, could not understand anything.
      Claim incurred and claim settlement…is it same?
      They have 2 different pages for this “Claim incurred ratio”.
      Please throw some light.

      Akshay Bharde

      1. No , its different . There are many things actually which is there in report . I will make an article on it !

    2. Yes you can go with that company ,.. As far as you give all the info honestly there is nothing to worry about !


      1. Akshay Bharde says:

        Thank you Manish! Thanks a lot. Purchased “11 Principles to Achieve Financial Freedom” today!

        1. Great to know that Akshay ! .. best of luck .. Do share your review about it !

  24. Danny Goodman says:

    Very informative on PA.

  25. ch varma says:

    your information is so impressive and useful. Thx

  26. Subhasish Sahu says:

    Hi Manish,

    Where can i get the latest Claim Ratio for different Company for Accidental Insurance Policy ?

    Can you please provide the link/URL ?

  27. Shekhar says:

    Dear Sir,

    I am planning to buy a personal accident policy. I read your article, however i feel the article is written few years back. 1 suggestion, can you please have Date also mentioned in the article to give an idea if its new or old. Also Can you please suggest the good accident plan for an individual


    1. Hi Shekhar

      You can see the URL of the page and see the month and year when it was published.


      1. Kiran Gohel says:

        Yes, but in case of update in article it is showing old dates in URL, which is confusing.

  28. Rahul Talreja says:

    Got call back from Bajaj Alliance

    They said there claim paid ration is -71 %
    which is highest in industry,.. the above one may be old

  29. Anup Bansal says:

    Which Personal Accidental Policy should be opted for sum insured Rs 15 Lac

    1. What point is the main thing for you while choosing accidental policy ?

  30. Sushil says:

    Dear Manish,

    How is Bharti Axa Smart Personal Accident insurance? The brochure seems to be satisfactory but I have read reviews that customer service is very bad.

    Can you help suggest which Accident Cover policy should I go for as per your recent knowledge? Would like a 30 L cover

    1. Yes all policies are fine, its actually the customer support which you need to see !

  31. Mahesh says:

    Hi Manish,

    Do you have an updated comparison chart for PA? The chart at the top seems to be little outdated.

    – Mahesh

    1. Nope .. It will take some time, would you like to contribute to this ? Can you visit some websites and just take down the premiums , we can then update it here !

  32. abhishek says:

    Hello Manish ,

    Thanks for your work .

    I have a question . there is nagrik suraksha from oriental insurance and janta personal accident policy . I am confused which one to choose . my requirement is :
    1) A accident policy which covers PPD , TPD and hospital expenses during accident.

    Also can you throw some light on claim ratio of above insurance providers. which one has the highest or safest claim ratio.

    Thanks once again for educating the indian junta ,

    1. Wont be able to comment on claim settlement ratio right now . But its a basic policy with very plain features .. You can go for it . but better have a health insurance also

  33. Abhijit says:

    Wonderful Manish.

    It is because of you I got myself insured with term plan (Aviva) & now again I am on my way to have PA as well.

    Thanks a lot for all the mentoring.


    1. Great to hear that Abhijit !

  34. Anurag Verma says:


    Can I buy 2 personal accident policies and take claims from both in the unfortunate event of AD or PTD.


    1. Yes, only the accidental claim for death , not for accident expenses

  35. Pramod Bhat says:

    Hi Manish,
    The topic is very much informative..
    I went through entire details of few companies on both term & accidental plans.
    Im having two more scenarios in my mind:
    1. If the person is suffered from permanent disabilities due to illness / decease , eg: paralysis, loss of vision, hearing, loss of hand/legs etc..
    2. Loss of any body part due to external attacks by dacoit, looters etc.
    In both the above cases there is no coverage found in these plans.
    Pls suggest..

    1. There are provisions to be paid even in case of partial disablement for life.

  36. Varun says:

    Hi Manish,

    So accident insurance is as important as a term insurance plan is what has already been discussed. So could you please suggest how to balance these two? I already have a term plan from HDFC Standard life for 50 lakh and would like to go for an accident/disability insurance plan as well. I am 27 years old.


    1. You then just pick up some options from the given chart and go ahead , whats your question here ?

      1. Varun says:

        Sorry for the confusion Manish. My question was, should I go in for additional term insurance at this point or go in for accident/disability insurance for now? Or both? 50 lakh SA that I currently have is insufficient for me according to my calculation. I was planning to take additional term insurance in two years. Just wanted your comments/suggestions on the best way ahead on all of this.

        1. I would suggest extend the same term insurance if possible . Talk to company on that. Else take a separate term insurance for additional security . for personal accident, take a separate cover

          1. Varun says:

            Thank you for the suggestion Manish ! I will check on extending the existing term insurance or taking separate term insurance for additional cover. I am also planning to go for accident cover for 50lakhs. Thanks again.

  37. Chetan says:

    Does the table ‘Comparison of accidental policies in India’ mentioned in your article holds good today . Is it updated reecently. I am planning to go for Bajaj Allainz policy based on claim settelment ratio.

    1. No Its a bit old one.. Not very updated one . But at this moment, I wont be able to make the change . Can you help me in finding out the companies numbers ?

  38. jaswAnt s says:

    sir i m a teacher and travel 100 kms distance daily by query is that in which catagory do i come(first or second) and my premium will be higheror normal for 10lac pai

    1. Surely you will come in 2nd category because your chances of meeting an accident are much higher than some one else

  39. Sreejith says:

    Hi Manish,

    One query regarding the exclusions in personal accident policy –
    few policies mention – any accidents as result of curative treatments will not be covered by the policy. eg. Bajaj Allianz premium guard and few others seem to have this clause. Could you clarify what this exclusion stands for?


    1. Hi Sreejith

      Please open a thread on our forum to discuss on this

  40. Nikhil says:

    Hello Manish,
    I have to opt between Bajaj Allianz & Star health accident policy. Which policy i have to buy as Star is having higher sum assured & Bajaj is having higher claim settlement ratio. Plz help i am a bit confused.

    1. Nikhil says:

      Yes i talked to them, they advised me star health. But on the website of star all the benefits & other terms are not given in detail. Even the sum assured max is 5 lakh Rs. Thats why i am a bit confused. Can you suggest something about this??

      1. Nikhil says:

        Policy features are almost same for both star & bajaj but claims paid ratio of star is very low as compare to Bajaj allianz.

  41. Sundar says:

    Going by these comments, if claim settlement ration is not to be worried about and if company credibility/longevity is also need not be worried much (being backed by IRDA for insolvency etc.,), then isn’t it straight forward to go for the cheapest plan? Like, I am 29 trying to take a term insurance for 1cr. the ceapest seems to be TATA AIA, Aviva, Bharti Axa.

    or am I wrong in saying should not go for the cheapest plan?

    1. Yes, you can go for the cheaper option . But then you know that human mind, it will keep on asking yourself on weather from did right or wrong . So also see if you personally trust the company or not

  42. Deepak says:

    Hello Manish,

    Nice article on PA.

    I am planning to take a term insurance to cover my new home loan and meanwhile, i came across this article. And so i decided to to take PA insurance also.

    There are some Term policies offering PA rider.. for Ex. Reliance New Term Life with Accident Benefit Rider.

    Which is the better option to go…?? buying term policy with rider or buying separate policies…

    Deepak Gudla

    1. There is nothing like better here. Term plan riders are cheaper , but they give less benefits , standalone policies will charge high , but will give more features ,now its you who has to choose what you want !

  43. Shiva Satish says:

    Thanks for bringing in such a nice article, with complete comparison.

    what is the risk level for transport drivers.

    1. Thanks . Only insurance companies can tell you that!

  44. Dinesh Jain says:

    Hi Manish,

    In the video it has been mentioned that premium for PA policy gets tax deduction. But in some articles i have read that it doesn’t get tax benefit under section 80 (C). However if it is taken as a rider iwth life insurance, then the premium gets tax benefit.

    Pls clarify

    1. Its our mistake . It does not qualify for 80C

      1. Dinesh Jain says:

        Thank you Manish for the clarification..

  45. Pooja chaubey says:

    So if I understand this correct. Accidental death policy / life insurance/ health insurancd plans can be topped up or an additional policy can be taken by another company but cannot be transferred.

    1. Health insurance can be transferred these days, not life or accidental

  46. Pooja CHaubey says:

    awesome info.. took apollo munich accidental death plan for both self and husband. but this is wonderful piece of information. can i change this plan next year to another company. does the claim free period also passes on..

    1. You cant transfer like this !

  47. Thyagarajan says:

    Hi Manish,

    You were the main reason for me realizing the importance of Insurance in one’s life, Thanks a lot for that! Over the past 3 months, I had done reasonable research on the policies and have taken a
    a. Term Insurance with Aegon Religare – The Longer coverage was attractive
    b. Just finalised Apollo PA Premium and

    Speaking of low Claims Settlement ratio of the above insurers, as u pointed out, it is clearly a matter of understanding what information was asked for and providing it with documentary evidence where ever possible. (hopefully the only issue).

    1. Thanks for your appreciation 🙂

  48. Mani says:

    Dear Manish,

    Very nice article that I ever seen. I would appreciate your replays to questions, Hat’s of to you.

    Now I have one doubt in Personal Accidental Policy, suppose a person having P.A. Policy got heart stroke or sun stroke joined in hospital and died due to heart attack or sun stroke. Will he eligible to get compensation? or not?


    1. Obviously not .. its a accidental policy . Anything which is related to accident and is mentioned in policy document will be covered !

  49. Nikhil says:

    Hi Manish

    I already have group accidental policy with my company (~ 15L S.A.). Do I need to go with a separate personal policy applying the same reasoning as in case of Health policies (where it may change with change in company) ? I liked the Bajaj policy a lot!

    Secondly, If I take 2 policies (1 frm my company and 1 frm say Bajaj) will I get benefits from both? Here by benefits I mean lump sump amount in case of permanent disability AND weekly benefit in case of temporary diability!

    PS: I use bike for commuting; and have no plans to use car/public transport. I guess bike is more risky when it comes to accident!


    1. Yes, go for a seperate one

  50. sushil adlakha says:

    Dear Manish ji … i have three daughters. Aged 28, 24 & 18. Kindly advise me as to what accident policy should i take for them. The eldest is in US for higher studies & is likely to come back in a couple of years. The second is with Times Of India & commutes a lot. The third is in college but again, travels quite a bit within the city. An early reply on my email id shall be highly appreciated. Regards. Thanks.

    1. there are tons of policies which are already mentioned here .. What is your confusion on them ?

  51. vivek says:

    hi MANISH,

    What is the general thumb rule for deciding on the PA cover. from fallowing posts its clear that we can take 2 PA policies .please explain again that how will the SA be paid in that case. should we take policy online or through general agents or company agents ?

    1. There is no general rule of thumb ..

  52. Dinanath Jayaswal says:

    Dear Manish,

    Thanks for sharing important thoughts on various types of policies.

    Kindly help me out with Best TERM INSURANCE PLAN and PERSONAL ACCIDENTAL PLAN.

    Personal Details : Male, 32 years, No SMOKING, No Drinking,
    I am planning to go ahead with AEGON REL. TERM Insurance plan of 50 Lacs.


    1. You can go with AR no issues !

  53. vivek says:

    hi MANISH,

    thanks for your so informative article.
    I am planning to take PA of 50 Lacs.
    please suggest me some good policies available as on date in the market.
    my work profile comes under low risk.I am married & age 31.

    1. All the policies are already shared in the article . Choose the one which fits your needs.

  54. Gurvinder Singh says:

    In the answers to queries here I find that at one place you have suggested that for a insured having 2 PA policies from different companies, both companies shall pay respective sum assured in case of accidental death.
    However at other place you suggested that claim can be taken from either of the 2 (or multiple companies) and it can not be more than the maximum sum assured.
    Could you please reconfirm which of these two responses stand correct.

    1. the total can not be higher than the SUM ASSURED in case of health insurance and accidental cover, however it can be claimed by 2 companies also , in which case they will share the claim in the same ratio of sum assured !

      1. Anindya Mitra says:

        Hi Manish,
        You mentioned that total claim cannot be higher than SA in case multiple policies exist. A case below for understanding, pls comment:
        If a person has policies of 25L from company A and 60L from company B – what MAX amount can he claim for a loss that is eligible for 50% of SA (say loss of a limb)?
        If he claims only from A – gets 12.5 L.
        claims only from B – gets 30L.
        But if he claims from both A & B, will he be able to get 30+12.5 = 42.5L?
        Or, just total of 12.5L or 30L or 25L shared by A & B?

        1. It has to be 50% from both

          1. Jalinder says:

            i.e. 42.5 L from both..please confirm.

  55. Aditya says:

    Which company includes “loss of sight of both eyes OR speech OR Hearing of both ears” in PTD and pays full SA? I found companies cover only “loss of sight of both eyes” under PTD and “loss of speech OR Hearing of both ears” is treated as PPD where max 75% of SA is paid.

    I think you should also include Bharti Axa in your comparison. Its policy is also having good coverage.

    1. Most of these things are standard and I dont think it will be different for different companies

  56. VG says:

    Great!!!! Good Information on Personal Accident Insurance Policy.

  57. vinod navale says:

    Hi Manish,
    Thanks for help to choose ITerm policy.i have Aegon i term. but not covering Accidental permanent disability.
    please suggest what would be the best Cos for PA.

    1. There are so many suggestions given already in the article


    Hi Manish Sir,

    I came across this article & understood the importance of a dedicated personal accidental plan. I have made a comparison among other companies but not sure to go with which one? Could you help me out in this. I am not saying for THE BEST PLAN becoz there is no plan as such 🙂 . I checked with ICICI Lombard, Future Generalli, Bajaj Allianz, also referred your Chart. So could you please provide me the updated details for a Pers. Acc. Plan.

    1. Pragit

      I think you should discuss it at our forum in that case –

  59. Shankar says:

    Hi Manish,
    Excellent topic and very good comparison. I own disability rider with term insurance, trying to revisit by having separate term insurance and disability insurance. Came across this topic and it was very useful. Even the recommended BajajAllianz premium policy which is not shown in Bajaj website under accidental policy(directly), after I saw your post went for detailed search on their website only then I can find it. Hats off to you … that this policy suits my need !!

    I have two questions on my mind:
    1) For Bajaj policy it is annual contract and can renew till 65 years, will the premium amount change in future(say after 2 years)?


    1. Yes , it can change in future . Its a yearly contract !

  60. Akash jain says:

    Hi Manish,

    After lot of research I have decided to go for below below accidental plans because of various benefits they posses.

    1. Bajaj Allianz Persona Guard SA= 20 Lacs, Premium-2000/annum
    2. Future Generali Accidental Suraksha Ellite plan – SA = 10L, Premium – 1500/annum

    1. I wanted to know how is Future Generali insurance company. Is it reliable because they have the worst Cliam settlement ratio, also they want the claim to be submitted in 7 days as against 15 days for other policies.

    Future Generali is providing lot of good benefits in this plan. Can you please advise me on this?

    2. Can I take two accidental policies? Is it legal?
    How the claim will be settled in cases of permanent or temporary disability?
    Will both companies pay the money ?
    How will we submit actual bills to both the companies?


    1. You can take 2 policies, nothing wrong wit it , the claim process you can find out later, first focus on taking the policy

      1. Akash jain says:

        Thanks Manish. Can you please reply to the second query

        I wanted to know how is Future Generali insurance company. Is it reliable because they have the worst Cliam settlement ratio, also they want the claim to be submitted in 7 days as against 15 days for other policies.

        What are your views?

        1. ANy new company always have a low claim settlement ratio .. you can go with it only if you have high trust !

  61. Anupam says:

    I was checking star health accident care plan.I tried to check my premium on its website calculator
    I found some thing strange.First of all in its monthly Income query, i filled my actual monthly income & found that max Sum assured they are providing to me is 5 lacs and my premium is coming 702/- then since you have mentioned in your article premiums for 10 and 20 lacs i filled my monthly income as 2 lacs.They still are providing max 5 lacs insurance.then to find lower range of insurance provided by them i entered my monthly income as 7000/- strange now my premium is shown as 253/- for sum assured of 5 lacs.Can you please explain what could be the logic behind difference in premium based on income level?

    1. I have no idea on that .. may be you should discuss it on our forum –

  62. Anupam says:

    Hi Manish,
    I think you have mixed PPD and TTD.In PPD explanation you are writing “For example – 1% of sum insured is paid every week up to 100 weeks”. I think this explanation should be for TTD.In TTD you are writing “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” this explanation i think should be for PPD.What you say?Well thanks for such informative article.I am a huge fan of yours and always recommend your site to my colleagues and if i require any information on any personal finance question your site is the first one which comes to my mind.Thanks Bro

  63. Gourav says:

    Your articles are very informative. Came across while browsing for term insurance and now I am going through them one by one.

    I have a query. Can we have multiple accident insurance policies? This would help to:
    – enhance cover
    – spread risk
    – take advantage of features/riders in both policies

    1. Yes you can have multiple life insurance policies, you will get the sum assured from all incase you die !

      1. Jitendra Rajawat says:


        Today i have Three acciendt insurance policys from two company ( two policy is Icici Lombard & one of Oriantal Insurance

        my qurey is

        In-case if any misshaping

        ICICI lombard give assured amount of my both policy ?
        ICICI Lombard & Oriantal Give my family assured amount of all three policy

        i qurey this question both of insurance comapany toll free no

        but both ans diffrance
        ICICI lombard say that u have take 25 lac policy in a year from different insurance com this is right ?

        oriantal insurance say that u have take policy from diffrent company but i case any misshaping u claim only one of company icici or oriantal insurance ?

        1. Yes ,you can claim it only from one company , the point is you can not claim more than your maximum sum assured . If you have taken a policy of 5 lacs each , the maximum you will be able to claim is 5 lacs only . Its not like life insurance

  64. Anupam says:

    Hi Manish,
    Entry Age is fine but can we renew it lifelong or is there any age limit after which we can not renew these types of policies?

    1. It would be mentioned in the policy document itself

  65. Anupam says:

    Hi Manish,
    I think you will like to change the data for Sum Assured,Entry Age and Premium Amount in case of Royal Sundaram Policy.Check

    1. Thanks will look at it !

  66. Dhananjay says:

    Hi Manish,

    Can you please tell us the second & thirt best policy form your above table…


    1. Dhananjay

      That will be too dangerous prediction . Even the first “best one” was a generic comment , it will always depend on case to case basis. So you need to look at them and decide which one fits your case.

  67. Vinay Joshi says:

    Hi Manish ,
    Thanks for sharing the valuable information. My father is retiered now . Whether retired person can take PA policy? if not then i can be the proposer and include them under my policy?

    1. I dont think it works like this , your father can take his policy !

  68. narasimha says:

    our company is dredging company most of our employees works at sites on the dregers. kindly suggest me the insurance companies who covers death insurance and their plans. benefits. pls

    1. No idea on this myself , but you should start a discussion thread on

  69. Rayan says:

    Hi Manish,
    thanks for this article.
    I also went through a same situation like Ajay’s in 2008. I was pedestrian that time and my spinal cord injured and disabled permanently according to doctors. At the time of this incident I dont had any PA or term except ulip.
    So, please may you write a detailed article on Third party insurance claim?
    Thanks in advance.

    1. Rayan

      I am not sure what info you want , what do you mean by Third party insurance ? You should be looking at term plans or health insurance ?

      1. Rayan says:

        I mean Motor Third Party Liability.

        1. I think a better place to enquire about that is forum :

  70. MUKESH CHAUHAN says:



  71. MUKESH CHAUHAN says:

    DEAR SIR ,


    1. You can do it , but why do you want to buy 4 policies of 10 lacs each ?

      1. MUKESH CHAUHAN says:

        one company can provide me 40 lakh insurance.. for both

  72. Abhijit Sarkar says:

    dear Sir, i am a Rly employee (Junior Engineer Gr. “C”), age 34 yrs. family member 4 (widow mother, house wife,and daughter 1 yr old), yrly income 3.5 lacks, lic policy 4.5 lacks cover taken from 2010 (jeevan sathi, jeevan suravi, and money back), 3000/month sip mf running, and bank ppf 50000/yr from 2010. should i need a term insurance or personal accidental insurance or health insurance ? what should i do for my daughter future ? pls reply.

    1. the simple question you need to ask is will your assets be enough for them after your death ? If yes, then you dont need to buy any term plan , else you get it . For your daughter , invest in mutual funds

  73. pradeep says:

    Dear Mohit,
    I want to take accidental insurance from apollo munich for 50 Lacs.
    they have two variants 1- Standord 2- Premium
    Premium difference betwween two is approx 550/-
    in Premium version they have some additional benefits- Broken bones, Accidental hospitilisation, modification of resisidence/vehicle.
    which one do you suggest.
    I am in ocupation class-1
    Premium for apollo munich premium version -6287/-
    Premium for apollo munich standord version -5730/-

  74. Rohit Agrawal says:

    Hi Manish ,
    Thanks for sharing all the valuable information you have and gather from net . I have read many of your articles . I have one question . It is advised to disclouse all the previous insurance policies while taking a new policy . I don’t have any insurance policy till now (age 33) apart from the Employers group insurance policy . I am planning to take one term insurance with AD and PD riders (may be SBI Life Smart Shield ) as I am opting for a home loan of 30 L from SBI . My question is do we need to disclouse the Employers Group Insurance policy while taking the Personal Term Insurance and if yes then how do we disclouse it .

    1. No Rohit

      You dont need to disclose the group cover

  75. Satish Av says:

    Claim payment rate(%) is one good thing to observe but it may not be the only thing. The % may simply indicate number of claims paid against number of claims reported; The percentage comes down when so many false claims are made (lack of idea, mis-selling etc) or when insurance company rejects many claim due to its approach. If your claim is genuine you can always get it.

    One should also observe the company’s credibility, its financial performance in the previous years, its market share etc. Remember; strong performing (profit) company is flexible in payments whereas a poor performer (loss) may start stringent practices.

    So, don’t always go for lower premium, higher discounts which may lure you while buying but definitely makes your company a poor and may reject your claim.

    1. Thats true Satish , very true observation !

    2. varsha says:

      Thanks Satish & Manish for your replies.
      This would certainly help me in finalizing the decision..

  76. Satish Av says:

    Dear Varsha,
    One should understand the procedure of insurance before buying. Insurance company collects small amount (premium) and promises that in case of said loss they will pay you large sum (Sum Assured). It is simply a pooling and works on probability. Just think, you are paying Just 2-3K per year and they assure you 25-30lac during entire year; they need more than 1000 such members to pay one claim. Don’t you expect one accident in 1000 members, that too in full 365 days…? Have you observed the India’s accident rate? When they pay your money to one among many members how can they pay you back? this fundamental is true whether its term plan or endowment or a health/accident insurance.

    1. Anupam says:

      Very True

  77. dev says:

    Dear Manish,
    please help me, where can i buy personal accident policy online? i tryed many popular websites like policybazar,insurance pandit etc…
    but not getting bajajallainz’s policy.
    i got ifco’s PA at insuringindia…….but lookig to get the bajaj’s bcoz u recomended it in ur post at jago investor.
    i have to do it before 31st march plz reply soon………
    thanks in advance.

  78. varsha says:

    Thanks for the information reg the Accidental Policy.

    But want to know, whether do I get my Premiums back if I don’t consume that Policy through out my life…i.e if I don’t meet any accident, will I get my Premium Back ?? n If I want to discontinue the policy in the mid of the term, then also Will I get my Premiums back ??

    1. Varsha

      No you dont get the premiums back , how can some one give your premium back . Its like buying a medicine and saying , If I dont get cured ,can i get money back . The premiums are covering your RISK , thats all , if it does not happpen , its good


      1. varsha says:

        so u mean if i started paying premium of say Rs 2875/- (as per chart -bajaj allianz) for next 35 years, the total amount invested would be 100,625/- which would go directly into the pockets of insurance cos, if i fail to consume the cover ??

        can u pls share the stats (in %) as to how many people enjoy the actual cover & how many people are just the policy holder.

        1. Varsha

          I cant answer that question, its for you to answer . that 2875 you are paying is for covering the RISK , which may happen or may not happen , and you are paying for that situation where if something bad happens , your family gets the money. So if that happens – GOOD , if it does not happen – Wonderful . Dont see each product from investment point of view, we are talking about insurance here in this product . I hope you are clear on this ?


  79. anjvik says:

    Is Bajaj Allianz still selling the Premium Personal Guard policy? There website don’t mention anything about that policy. If that policy is not available which policy should I go with. Bajaj Allianz’s personal guard policy doesn’t look that good. I need SI of around 50 lacs. Please suggest, Thanks.


    Dear Manish,
    Dear Manish I would like to have PA (personal accident insuranve ) and Critical illness coverage for me and my wife age 33 and 34. I need coverage of 25 lakhs for PA and 50 lakhs for CI, for my wife I need PA and CI coverage just suffient to cover financial aspects .Please suggest accordingly the plans cheaper and having good claim setttlement ration.

    1. Yogesh

      Thanks for asking the question. I suggest you to use forum for this, so that more people can have a look at it and give their comments too . Please ask your question on the forum where I personally and others reply very fast . It takes 1 min to create a login and start asking question .. Incase you want me to create a login/pass – let me know

  81. Abhijeet says:

    Thinking of going for FUTURE GENERALI as the premium is also very competitive and plus they get me covered for 25L..feature wise its also quite good..wat du u al suggest..bajaj is a bit costlier but then is there any major difference in both these policies as the price point has a huge difference?

    1. Abhijit

      Its all about trust and are you ok with the company of not . Some people just want to go with ICICI or HDFC as they are big names .. if you are ok with FG , then go ahead .. Premium depedns on their under writing rules and you cant agrue why one is lower than other . all you need to see what you are doing

  82. Alok says:

    Dear Manish,
    I want to have one crore PA policy. Can I have four policies of 25 each. Will it make any differnece.
    My point is that I dont want to rely on one insurer and secondly mixture of this give me “all inclusive” benefits like act of terrorism etc.

    1. Alok

      You can do that and there is no much issue other than this point that incase of claim its running around to 4 companies . I think 4 is too much , 2 is good enough

  83. Rinkesh says:

    Thanks Manish…
    One more seems BA stopped selling premium personal guard plan. Please suggest another good option now.

  84. Rinkesh says:

    Hi Manish,

    This is really good article and I am also planning to take PA policy. I tried to search on Medimanage but i do not see any Personal Accidental policy links on that.

    Can you provide link to buy from medimanage/


    1. Rinkesh

      Better contact them on their customer care or mail them , they will assist you .

  85. Tejas says:

    Thanks Manish for very useful article and info.

    With regards to weekly benefit paid in TTD — I have now confirmation from 2 different companies. Weekly benefit is based on your income and they would need income proof at the time of application for TTD. Most companies do have a maximum weekly benefit (Rs 5000 in case of Oriental insurance for example).

  86. Rakesh Kumar says:

    Hi Manish,

    I took Bajaj Allianz Premium Personal Guard last month through MediManage .
    After 1 month got my policy document.
    But found one discrepancy.

    In brochure of Premium Personal Guard it’s written that
    “Cumulative bonus @ 5% per claim free year to a maximum of 50% (reduced by 10% if claim is lodged).”

    But the in policy document which I received it’s written that

    “The maximum culmulative increase of total sum assured will be limited to 5 years and 25% of your first Premium Personal Guard with us.”

    I have already communicated this to MediManage and waiting for response.

    Does anybody else have noticed such difference?

    Is there anything else I should do about this…..?
    Is it correct/legal to change the policy wording like this…..?


    1. Mahavir Chopra says:

      Hello Rakesh,

      We are surprised too. We have raised this with Bajaj, and we will get back to you on this today. Apologies for the inconvenience


      Mahavir Chopra

      1. Rakesh Kumar says:

        After informing Bajaj Allianz through MediManage about the discrepancy, they informed that there was an error while sending the policy wording. And they would send the revised copy to me.

        I got the revised copy which has correct wording as per the brochure.

        Thank you Mahavir & MediManage.

        So it’s very important that we read the policy document after receiving it.

        We may know all the terms of the policy but our dear one may not.
        In case of any claim they would go by the document.

    2. Vikas says:

      Hi Rakesh,

      I have applied for the same policy. Until now I have received a softcopy of policy schedule(duplicate) and a hard copy of policy schedule. This is just single page document.

      What documents have you received? There is no mention of this ‘cumulative bonus’ in policy schedule.

      Please clarify.

      1. Rakesh Kumar says:

        Hi VIkas,

        Other than policy schedule, I have received payment receipt and policy wording document (6 pages).


        1. Vikas says:

          Thanks, I guess I have to wait a few more days.

  87. Surendra Jain says:

    Because of rich information I got from this blog, I took 2 Accidental Policies, one from United India for 20 Lacs and one Premium Personal Guard from Baja for 20 Lacs covering my family also.

    Experience with United India was good as very quickly I got the policy but Baja it took almost a month anyways I got it now.

    Thanks Manish for all your vaulabe information and guidance to Educated but financially illitrate people like us.

    1. Surendra

      Good to hear that you are now covered properly !


  88. Ravindra M. Kale says:

    Dear Manish,
    Thank you for such informative article. definitely I will go for Bajaj Allianz Premium Personal Guard for myself. I am delaying such important decision of taking such a policy. the article is helpful for me taking a decision.

    1. Ravindra

      Good to hear that .. take the decision fast 🙂

  89. Ram says:

    What happens if a person is render disable due to Paralysis or Heart Stroke? Is there a way one can take insurance that covers disability due to medical reasons?

    1. Anupam says:

      Take Critical Illness Cover Policy for above mentioned diseases.

  90. Sharan says:


    This is the first time I am posting on this site, despite being an avid follower from a long time.

    It has helped me a lot in adding to my knowledge about personal finance.

    Thanks a lot!

    In relation to this post – I am an Engineer by profession, and interested in adventure sports – mountaineering, trekking etc. So please let me know if there is anything I need to take care of while getting an accident insurance or term insurance policy. I can apply normally for these policies online right? and do I need to explicitly inform the provider.

    1. Sharan

      If you do the adventourous activities on regular basis and more than “normal” like 2-3 times a MONTH .. than you better disclose it to insurance company . Note that you are more risky customer than another people and hence your premium might get loaded which is FAIR


  91. Vivek K says:

    Hi Manish,
    The compensation in case of permanent total disability for Bajaj Allianz personal guard is 125% and not 200%. You may want to check and correct.

    1. Vivek

      What you are saying is true for basic plan , for premium plan its 200% only . Customer care does not reveal that !

  92. Amit Kumra says:

    Hi Jagoinvestor,

    Can you list down the top 5 health insurance policies in PSU and top 5 in private sector???

    1. Amit

      Cant be done like that .. ranking is always relative from person to person .. and one has to do their own working on that

  93. Satish Av says:

    Dear Mr. Pintu,
    Nice to see you approaching for a personal accident cover as a protection for your family against future uncertainties. Well, why Bajaj has said you that they can’t offer you beyond Rs.5 Lac? Is it because of your age or income or your occupation or their guidelines? Remember, many companies restrict on maximum cover based on your income. Why don’t you approach a known good advisor on this?My friend has opted 25 lac cover few days back from Iffco tokio, they may offer you, check out..

    1. Pintu Chattaraj says:

      @ Satish
      No – the max cover of 5L is not dependent on my monthly/annual salary. Pls go through the brochure of Personal Guard.


      On page# 2 you would see that this plan is divided into 3 types – Basic, Wider and Comprehensive.

      The maximum SI for the comprehensive option is Rs 5Lacs. And this is the only option which provides cover for Temporary Total Disability cases also. The other 2 option (Basic & Wider) are not available with this benefit.

  94. Pintu Chattaraj says:

    Hi Manish,
    Today I was talking to a Bajaj Allianz executive regarding the ‘Premium Personal Guard’ policy you have mentioned here and got to know that it is no more available to buy.

    The one that is available is ‘Personal Guard’ policy which has a max SI of 5L only (in case you are taking the comprehensive option for Risk Cat I).

    Now if i want to increase the SI i will have to take the Wider option which in my case will provide a SI slightly above 20L. But the flip side is that it will not provide any benefit in Temporary Total Disable cases.

    Should i go for the wider option or is there anything better than this? My priority in selecting an insurance plan is the claim settlement ratio. Please suggest.

    Thanks in advance!
    Pintu Chattaraj

    1. Pintu

      Do you really want a standalone policy ? You can then look at alternate option or just go as rider in term plan

    2. Vivek K says:

      You can combine and take wider plan ( max 60 times of monthly salary) + comprehensive plan (max 5 lacs). Suppose your monthly salary is 50k, you can then take 30 lacs + 5 lacs policy. The only difference is in case of temporary total disability max you can get is 5 lacs. For any other unfortunate incident eligibility is max 30 lacs.

  95. Prasoon says:

    Bajaj Premium Personal Guard and Apollo 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) 20L for self
    2) 10L for self and 5L for spouse as individual policies
    3) Family plan – 10L, 5L and 2.5L for self, spouse and child respectively
    I understand that it depends on individual preferences, but I am just asking in general.


    1. Prasoon says:

      I am just putting this question in forum, as I thought that would be better place.

  96. Rampratap Barai says:

    Hi Manish,

    I m planning to buy Term Plan from Aviva-I life (online term policy) for 50 Lacs Cover. Is thi best for me & Which is the best in claim ratio. Need your assistance on the same.

    My current age is 32

    1. Rampratap

      The best in claim would be LIC , but aviva is also ok


  97. sandeep says:

    Tata Aig not covers Terrorist attack. Is any specific policy which covers terrorist attack?

    1. Sandeep

      Future generali does .. see the chart in the article

  98. sandeep says:

    Please suggest me Personnel Accident policy which gives Sum assured for Rs. 50Lakhs & covers loss of income coverage,Permanent/Partial/Temporary disability.It should cover Terrorist attack also.My gross salary is INR 48000/- per month. Does Bajaj Alliance covers all these? Weekly compensation coverage offered by New India Assurance / Oriental Insurance is 1% of sum assured or maximum Rs.5000/-per week for 104 weeks which i think insufficient please adivce whether Bajaja Alliance or any othe private general insurance will overcome this?

    I want to buy accidental insurance which covers loss of income coverage ,Permanent / partial / temporary disability.
    Also advice does Terrorist attack covers in all accidental insurance?
    How much maximum amount i can take cover . My gross salary is INR 48000/- per month.

    1. Sandeep

      Tata Aig Personal Guard can be of help in your case


  99. Ajit says:

    Hi Manish,

    * Does it make sense to take riders like CI, AD along with Term plan or seperately. Or take pure term plan (without riders) and take riders seperately?
    * Do premium increases as soon as you opt for Riders along with Term Plan. How much cover you should take generally with CI, PD?
    * Do premium increases genrally as time goes with Term plan. E.g. after every 5 years, or so?

    Thanks in advance!

    1. Ajit

      1. There is no single answer to this , riders can be taken with term plan , but those riders do not cover everything and do not cover broadly everything which a standalone cover does ,thats the reason riders in term plan are cheaper than stand alone policies .

      2. Obviously , if you take something extra , wont you pay more ?

      3. No , in general it does not ,but there are some plans which have that point that after 5 yrs premium will change , like ING i guess, check out your self


      1. Ajit says:

        Thanks a lot, Manish!

        * It will be gerat if you can please suggest some very good seperate CI and other riders?
        * How much cover one should Opt with this?

        1. Ajit

          1. I am not clear what you want information on ?

          2. It totally depends on you ..

          1. Ajit says:

            Hi Manish,

            I have decided to go for 2 online Term plans (without any rider). I thought I will take seperate policies for Critical Illness, Accidental Death, Total/Partial Disability, and so on. It will be great if you can suggest few plans for these riders. What should be idle cover I should opt for through these plans?

            1. Ajit

              The review of some plans are already done on this same article, now the choosing part has to be done you only . What problem are you facing exactly ?


            2. Ajit says:

              Hi Manish,

              Permenant/Partial Disability covered under Accidnetal Rider is only Permenant/Partial Disability DUE TO Accident. Can you suggest few policies which can cover Critical Illness and Permenant/Partial Disability DUE TO Critical Illness?

              Thanks in advance!

            3. Ajit

              I dont think there is any policy like that .. even a standalone policy will cover only accidental disabilities!

  100. Surendra says:

    Dear Manish

    I have got 3 queries on PA Policies

    1.What is Broken Bones, I have read this in many companies’ PA policies

    2.What is Education fund, in many cases i have ready max. 5000/- payable to child.

    3. What is the difference between Standard and Premium Policies, which almost all Insurance companies are having.

    1. SUrendra

      1. It means if you break your bones (fracture) , it will be covered

      2. Your children will get that much money for their education

      3. Its for more coverage and features


      1. Surendra says:

        So is it always better to go for Premium Policies

  101. Minesh says:


    If your corporate cover includes Personal Accident Coverage, is it worth buying a separate policy? This is not like health insurance where it may be difficult to secure one at a later stage (subject to max entry age ofcourse)


    1. Vikas says:

      Yes, you are correct. PA coverage depends on the work profile and income. Premium can be changed if needed. But if you delay, it means you are not insured now.

    2. Mahavir Chopra says:

      Hello Minesh,

      Mostly PA Coverage provided by Employers is very low, and not enough to compensate disability.

      You need to ideally have a coverage at 8-10 times your annual income.

      Most employers do not provide such amount of covers, hence you need your own policy.

  102. Surendra says:

    I believe PA policies cover all kind of diablement because of external factors like accident only and not because of any kind of illness, disease.

    Am I correct here?

    1. Surendra

      True .. it covers most of the kind of disablements , but the payout can vary depending on the severity of the disablement


  103. Vikas says:


    Accidental policies are generally advertised as ‘worldwide coverage’. But after reading in detail, it seems that it provide coverage on personal trip.

    I guess it means no coverage for official foreign trips and not for studying in a foreign country.

    P.S.: I was reading policy wording of Bajaj Allianz Premier Personal Guard.

    1. Vikas

      Ohh is it . thanks for providing that insight .. I didnt knew that


      1. Vikas says:

        Here is an update:
        I asked the same question with the Bajaj Allianz agent I have applied with. He confirmed that the Accidental Insurance do cover all types of foreign trips.

        So, my previous understanding was incorrect. On the other hand. they have other types of plans for official and student trips.

        1. Vikas

          Good to hear that .. so now its confirmed that it will cover in all the cases if one goes to foriegn trip


  104. Amit says:

    Great article. One suggestion from me. Good things should be highlighted in green and not red. Red is a sign for risk and is generally used to indicate negative.

    1. Amit

      Thanks for that suggestion , I will consider it next time. . the only idea was to highlight the text 🙂 , but I get your point , thanks

  105. amarawargaonkar says:

    Manish Bhai kya baat hai you continue to amaze me.
    Yes i have term and i have accident death benefit rider but nothing like the one you described above.
    I am buying one for me and probably for my family.
    Kudos and keep it up buddy.

  106. Vikas says:

    I am interested in Bajaj Allianz Premium Personal Guard Comprehensive.

    Another policy I am looking at is Future Generali Accident Suraksha, but I am not able to find its detailed policy document.

    Can we take multiple polices and take benefits from all of them? I guess we need to inform new insurer about all previously taken policies.

    1. Vikas

      Yes you will have to inform them about old policies .. Find an agent near your house on justdial , that would work


      1. Vikas says:

        Thanks Manish. You are doing great work here.

  107. Pravin says:

    Wants to buy Bajaj Allianz Personal guard compressive, but cant buy online on bajaj allianz website.plz help

    1. Parvin

      Talk to agent .. not all policies are sold online


  108. Rakesh says:

    Hi Manish,

    Thanks for such a valuable information.

    PA insurance was on my mind for last 2 months but one or other reason could not finalize and buy.

    I came across your article 5 days back and decide that first thing to buy in 2012 is to get one PA insurance.

    I have decided to buy Bajaj Allianz Personal Accident – Premium Guard.

    I may not have selected the best policy but to find the best one will take a lot of time. So I decided to buy this one. And then I would get 1 year to find the best.

    Something is better than nothing.

    Best policy in terms of customer service and claim ratio of PA insu.
    For some query I called up Bajaj Allianz customer care yesterday. I tried whole day.Everytime holding the line for about 30 mins. But no luck. No call back.

    I wonder what would be experience in case someone makes any claim.

    Any thoughts…….?


    1. Rakesh

      See the comments section in detail .. there are readers who got the policy through cc .. try some other companies .. one tip is to look for agents near your house (justdial) so that you can contact them easily


  109. Navin Kumar says:

    I have done some research on PA in last few days and narrow down on 2 companies Bajaj allianz and Apollo Munich.

    which one is best of them. I am more concerned about claim settlement ratio, PTD & PPD.

    Do reply

    1. Navin

      We cant label them as “best” .. the terms and confditions are different for both and premiums is dependent on that.. pick a specific point in those policies which you want to compare on and then we can see how we can help you


      1. Navin Kumar says:

        1. BA has 200% of SI in PTD and 91% claim settlement ratio. I could not find the premium value for 1Cr (+ 50L for my wife).? Any link wud help.
        2. ApolloMunich has 15.6K Rs for 1Cr (+ 50L for my wife), 100% in PTD but 50% claim settlement ratio

        Other things looking same (pls add if you see something I am missing worth mentioning).

        1. Navin

          I guess bajaj has a cap for 25 or 50 lacs .


          1. Navin Kumar says:

            then the claim ratio is the only -ve thing with Apollomunich.


            1. Navin Kumar says:

              I received a quote from medimanage and found that the best PA is Apollomunich except the claim ratio. if they can sort out this issue, then this looks as the best product.

              Anyone want to to add or share more info?


            2. Navin

              Then go for it .. because claim settlement is all result of how accurate info you have given to them at the time of taking the policy


  110. sanojsonkar says:

    Thank a lot manish, by reading this article i am planning to take the Personal Accident Policy for my self & wife. I contacted to medimanage throuh there online portal for the same to provide me the best personal accident policy today itself. thank ones again.

    1. anojsonkar

      Good to hear that .. keep reading


  111. Prabuddha says:

    kudos to you. Very nice and usefull discussion.
    I have a one question though about claim settlement.
    Do you have any idea, what is the basis of claim settlement quoted in this post.
    As I know Bajaj has less than 90% claim settlement in Life insurance so, it’s bajaj’s
    general insurance bussiness is having 91% , hhmm.
    Could please provide reference?

    1. Prabuddha

      Those figures are taken from which has taken the data from IRDA reports .

  112. Satish SA says:

    Its always suggested to go through the agent/broker while taking an insurance policy. You may find the premium the premium bit more than online or direct purchase but the agent gives valuable support at the time of claim, like collection of documents, submissions, follow ups. They know insiders of insurance company and can influence on settlement of claim, especially when they are valuable partners for the insurance company.

    Also, its better to be with one agent/broker and one insurence company than spreading with all. It creates your portfolio and hence will be better valued…

    1. Satish

      Thanks for your suggestions .. any personal experience on your side ?


  113. Ashish Kelkar says:

    Thanks for the valuable information.

    The thought of personal accident insurance policy ( occurred to me after my friend met with an accident.

    I have started researching on the same. I am looking for a trusted company which settles claims quickly and provides good benefit and one of the companies that I am quite convinced is Future Generali. Looking forward to invest in the same.

    1. Ashish

      A policy from Bajaj allianz would be a good option , Did you look at it ?


  114. Mehmood says:


    even my queries are same as that of shashidhar and pradeep please enlighten us on HDFC ERGO

    1. Mehmood

      Did you look at that policy ? what is it that you are not clear about ?

  115. Pradeep says:

    Hi Manish,

    On a different note, how many policies should one have, Now we have the following must have policies :
    1. Term Insurance.
    2. Health Insurance.
    3. PA

    Plus add to that we also must invest in MF, PPF/EPF, FD’s etc and our daily expenditure and savings also.

    Now, should a person keep constantly invested in all the above ?

    1. Pradeep

      The first 3 things are mainly for protection, the other thigns are not related to them ,so the first 3 are suggested . For investments it depends how simple you want your portfolio to be ?


      1. Shirish says:

        And how about Critical Illness policy? Is it not a must?

        1. Pankaj says:

          @ Manish

          Kindly advice on Critical Illness Policies. Whether it should be part of Insurance Portfolio of person having Health, Personal Accident and Term Insurance? Does the benefits of all these Insurance overlap with each other?


          1. Pankaj

            Note that a comprehensive policy is always exhaustive and comes with added benefit .. so a rider will give core benefit , but not as comprehensive as a stand alone policy .

            So if you have already taken a rider for critical benefit . i would say its fine for now ,.. but otherwise you can buy a seperate policy


        2. Shirish

          there are primary level things first and I have mentioned that …critical illness policy is secondary, there are many more products which are improtant … but those are seconday


  116. Shashidhar says:

    Hi Manish,

    First of all let me really appreciate you for bringing this article.

    I believe this words “when you want something, all the universe conspires in helping you to achieve it”. From past few months I was just roaming over the net for good PA policy. I do see your articles, but didn’t gain attention myself on this earlier.

    Before your article I though of taking “HDFC ERGO Personal Accident Insurance Policy” They have “Hospital Cash” ad on benefit (by paying 404 extra).
    1. What’s your view on this policy?
    By the way, how can we get to know claim Paid ratio for any individual policy? Is there any one monitoring this and keeping as reference to others?

    1. Shashidhar

      Good to know that you got something useful from this article . Overall All the policies are same .. now you have to choose between the featrues yourself . Do you want that hospital cash benefit or not ?

      You can get claim paid ratio from IRDA report . I took this data from website


  117. Satish SA says:

    I remember a recent case of my friend. He is a having a small business with 10lac turnover. He met with a road accident while travelling in a Govt bus. Driver’s mistake, he paid the price. Just @35 years, back got crushed, vertebra got damaged permanently. Was in hospital for 1-5 months but no permanent solution. Now bed ridden for life with low hope. His health insurance policy saved some of the cost (3 lac out of 5 lac treatment expenses) having opted 3 lac health cover. Had an accident policy though taken under his shop policy, paid Rs.2 lac helped him up to some extent. Had he taken 25 lac cover, would helped him for longer time but by trying to save the premium he opted less.
    Now, he cant opt any more new policy and his life policy, helped him no way…

    1. Satish

      thanks for highlighting that case .. it will really help others to see that there are real life examples like that


  118. Saurav Sinha says:

    Thanks Manish, that really helped … actually the table has 2 columns 1 for Self & other for Family, but the premiums were mentioned only in Self column… so I thought might be the page was not opening properly.

    Thanks again. And I have mailed my query to these guys 4 days back but no1 has responded yet!

    1. Saurav

      it would have helped if you had mentioned that what part you are not able to understand .

      Note that there you can put in the SA amount and it will show you the premiums for ONE PERSON and WHOLE FAMILY (family of 4 in most of the cases). This policy seems to give you an option to choose things you want to cover .

      The first premium it shows you is for

      accidental death + Dismemberment – Dismemberment means cutting off some of your limbs , see . From my understanding the first option is applicable if you your damage is partial (cut of one hand or one leg) . Because 2nd option mentions “Total loss of use”

      The second premium is for proper and full comprehensive features . Also you can add the weekly benefit option where you will also get kind of income and there is seperate premium for htat ..

      That is based on my understanding. Why dont you leave your details on the side bar of that site , someone might give you a call and explain you


  119. Saurav Sinha says:

    One more thing … the illustrative premium of TATA-AIG is a bit confusing for me … did U give it a try? can anyone help me here??

    1. Saurav

      Give me the link , what is confusing ?


  120. Saurav Sinha says:

    For your info (FYI)

    I went thru few insurance companies website for getting accident related insurance, I found Max Newyork Life premiums does change with your age.

    1. Saurav

      Oh is it .. they are rare in that case .. it is not a general fact unless otherwise stated .


    2. Anupam says:

      For pure Accident related Insurance plans look at general Insurance companies.For accidents related riders you can look at life Insurance companies.Max Newyork life is an life Insurance company and difference between standalone accident policy and rider, i think has been cleared by Manish a lot times.

  121. Mehmood says:

    fantastic article. cleared my doubts about disability insurance

    1. Mehmood

      Good to hear that you liked the article .. thanks

  122. YOgesh Kanna says:

    Hi Manish,

    Similar to any of your other article, this article too is very comprehensive and infact it introduced me to many accidental coverage concepts! G8 work.

    It also encourages me to go for one immediate policy during my next vacation to India.

    Yogesh Kanna

    1. Yogesh

      Thanks for appreciation.. most of the articles written here are comprehensive and always useful 🙂 . Keep reading


  123. Prabhu says:

    Hi Manish
    SBI smartshield ( a term plan) provides PA as a additional option that can be opted with extra premium.
    I feel combining PA and term insurance in one single plan is better.
    Do you see any drawback in it?

    1. Prabhu

      they are not as comprehensive as pure accidental plans , you are covered only for accidental death and temporary disablement , nothing else .. check once


      1. Prabhu says:

        SBI Life – Accidental Death Benefit Rider (UIN: 111B015V01)
        SBI Life-Accidental Total & Permanent Disability Benefit Rider (UIN: 111B016V01)

        These are two additional riders available.

        1. Prabhu

          ok .. but it has just 2 things .. there are other benefits like Partial Permanent Disability and Total temporary disability


  124. babu says:

    dear manish,
    any reason why you missed out on New India, the biggest general insurer.
    new india allows family personal accident cover and gives 10% discount on premium.

    New India is rated as “A”[excellent] by A.M.Best[an international rating agency in this field]

    1. Babu

      Actually I saw that one .. But could not find a lot of info from their website .. What as per you is the best part of this policy ?


      1. Babu says:

        72 Months Income Cover for
        [only salary/business/professional income considered and not rent,dividends, etc]
        Accidental Death
        Permanent Disability
        Permanent Partial Disability
        Compensation for temporary total disability
        10% family discount
        wide all india branch network
        all with very competetive premium rates and discounts on case to case basis

  125. Dr. Firoz Ahmed says:

    Dear Manish,

    Well done..again..

    A very informative question is

    Can i take 2 different policies of PA from 2 different insurers? Coz, bajaj gives you only upto 25 lacs.

    1. Firoz

      Yes you can take more than one


  126. Prachi says:

    Is there any personal accident policy which will pay in case of disability but NOT in case of death? I already have a term policy. So paying for a death cover again seems redundant. Is paying for an accident rider on a term policy the only way out?

    1. Prachi

      All the accidental policies pay for accidental death only , not all kind of deaths .. But it cant be removed


      1. Prachi says:

        Another question: Suppose you are the only breadwinner and your family consists of 4 people, including you. If you die, the amount paid by your term policy needs to be enough to support only 3 people. But if you become permanently disabled due to an accident, the sum assured in your personal accident policy needs to be enough to support 4 people.

        What do you think is the best way to cover both situations? I think there are two options:
        1) Take a term insurance whose sum assured is enough for 3 people, AS WELL AS take a personal accident insurance whose sum assured is enough for 4 people.
        2) Take only a term insurance whose sum assured is enough for 4 people, with a rider for permanent disability.

        Looks like the premium will be lower for the second option. But is it really the best option or am I missing something here?

        1. Prachi

          I personally feel that thinking like this only delays our decision and nothing else for most of the people .. You are over optimizing the situation and premium payments .. Just take action .. buy some thing first, else these things will be delayed for many months/years

          I would suggest taken a term plan for 100% amount and also take an accidental cover , take more of what matters to you


  127. Sahil Bhatia says:

    Hi Manish,

    Another great article !
    Just in time, when I was thinking to gift something to myself on my birthday (was yesterday).
    I can’t think of a better gift for myself than this.
    I always wanted to insure myself for a PA policy since the beginning, as I travel everyday in Office Cab [not the safest way to travel I will say 😀 ], however didn’t knew that these policies existed until today.
    Although, I already have a Permanent Disability Rider rider of Rs. 10 Lakh (costing Rs. 400) (which was also the Max. limit in the policy) and Accidental death benefit rider of Rs. 9 Lakh (costing Rs. 720) in my term plan of Rs. 30 Lakh (from Kotak) but I guess that taking a PA Policy is better as it covers partial disability and Temporary Disability which are not covered in my term plan.
    I am thinking of researching a bit and will let you know which plan I will go with.
    Thanks Again Manish !

    Sahil Bhatia

    1. Sahil

      Great … go ahead and update me here so that we make sure you take action and not hide away ! 🙂 . Also better to take accidental plan seperately also becuase incase of disablement 10 lacs is so less .. if you take a bajaj allianz policy for 50 lacs SA , that would mean you pay few thousands , but what you get is

      – Accidental Death will give your family 50 lacs
      – You get 1 crore (200% of SA) incase of permanent disablement for life
      – you get 30-50 lacs in case of permanent but partial diability
      – Also you get another different kind of accidental related benefits !

      Go ahead


      1. Sahil Bhatia says:


        I totally agree with you on this.
        Actually when I was taking my term plan I wanted to make the Permanent Disability Cover more, but was not allowed to, as it was already the maximum limit.
        So I super liked your article as it addressed my concern.
        So I have been trying for the lat few days to get in touch with the companies you listed. I contacted Future Generalli (Simply asking for Brochure and details), Bajaj Allianz (tried their support number multiple times and they said they will call me back and I never received the call), Star Health and none of them seem to be interested in selling the policy.
        I also asked Future Generalli’s customer support if they provided ‘Cover Against Terrorism’ and they said they did not (even though it is clearly written on the website).

        However I have made this my mission and I am not going to give up on this. I will try my level best to go for two policies for 25 lakh each.
        My choice when I saw your article was
        Future Generrali

        2) Bajaj Allianz
        3) Star Health

        I am also curious to know how you found the claim settlement ratio of the companies you listed ?

        Will keep you posted on the success of my mission.


        1. Sahil

          I actually got the claim settlement from PDF’s , but you can double check it from the IRDA reports . note that the claim settelement are for everything the companies sells .. not only accidental


      2. Sahil Bhatia says:

        Hi Manish,

        Bajaj Allianz provides ” Highest compensation of 125% of the sum insured incase of permanent total disability ” and not 200 %. You might want to correct it in the above article. It is mentioned here :-

        I also confirmed this with their customer care team. I will forward you the brochure for more details.
        Also, Star Health does not give separate PAI policy. You have to take health insurance from them as well. (Confirmed this with their Customer care).


        1. Pankaj says:

          @ Manish,

          In that case would Apollo Munich (Premium / Standard) Individual Accident plan be the winner???


        2. Jayaprakash Kanreddy says:


          I’ve taken bajaj allianz policy and if you take premium plan then you will get 200% SI for PTD not for the normal plan. Never rely on customer care they are always clueless. Here is the brochure link for this policy

          1. Sahil Bhatia says:


            I am surprised to see the link that you gave. This was never given to me by the customer care executives. Thanks a lot for this link !


            1. Sahil Bhatia says:

              Hey Manish,

              Forgot to update you guys.
              I took three units (10 Lakh per unit X 3= Rs. 30 lakh) of PA policy from Future Generalli with a premium of Rs. 4,500 (Rs. 1,500 per unit) few weeks back. The premium is a little bit higher but It gives an equal amount of coverage of Permanent Total Disablement and Permanent Partial Disablement (difficult to find it in it’s regular policy which has lower premium of-course). Plus this has all other benefits like loan disbursement, child education, Temporary Total Disablement , etc.

              Thanks a lot Manish for this article.
              This article gave me great inspiration to go for this policy.

              Keep inspiring.

            2. Sahil

              Good to hear that .. if you are satisfied with the policy , thats the best thing !

  128. satish SA says:

    Dear Vikrant,
    Instead of taking 50 lac full sum insured, you can ask for combination of death and disability, like 25 lac for death benefits and rest under disability, which reduces your premium amount.

    Instead of going individually, you can check in your employer, if yet to be taken for employees, or taken lower assured amount already. Because going through employer would give negotiation power and hence lower premium for employees.

  129. vikrant says:

    Hi Manish,

    I checked with oriental insurance company and found that PA for 50 Lakh for a 31 years old would cost only 5.2K/annum, with 5K weekly compensation. May be you would like to review that too.

    Additionally are you planning to write on critical illness and comparison anytime soon?

    1. Vikrant

      How is it cheaper compared to others ?


  130. Sandy says:

    I am unable to understand this. Is there any particular difference if I buy a standalone PA insurance or I buy it as a rider in Life Insurance. Please highlight any particular difference in parameters like Coverage or Cost.

    1. Sandy

      Riders in Life insurance are not as comprehensive as standalone policies .. like some riders only give you accidental death benefit , and only very few give Permanent total disability benefit .. but almost none of them give partial permanent or total temporary disability benefit ..

      Also a standalone policy has much more features.


  131. Pradeep says:

    Hi Manish,

    Once again a nice article from your side, congrats !!!

    I have some questions, I am considering buying a PA policy from Bajaj Alliance :

    1. I am 26 yrs old, and at present my annual income is 3 lac per annum. Can I buy PA worth 50 Lac ?

    2. Is the premium will remain same for ever or will it increase every year

    3. I want your frank view, should I go with Bajaj ?


    1. Pradeep

      1. 50 lacs would be too high i guess .. but the final decision is on company , check with compannies

      2. It has to be renewed every year .. It can change

      3. I cant tell that .. i can only give reviews .. the decision is yours


  132. Pankaj says:

    Hi Manish,

    Following features are not available in Bajaj Allianz; but Apollo is providing these benefits: – Broken Bones, Transportation of Imported Medicine, Purchase of Blood, Modification of Residence/Vehicle in case of Permanent Total Disability, Family Transportation of a family member in case of Accidental Death/Permanent Disability.

    You mentioned Claim Ratio is higher in Bajaj and it gives upper hand to Bajaj Allianz.

    Can Mahavir also provide his views on Accidental Insurance, as deciding the best Accidental Policy is getting difficult…

    1. Pankaj

      Yes .. there can be features which are present in one policy and not in other and thats the reason the pricing can be different . But understand that only few features can be of most importance .. and not all .. So you have to decide on that . If you want views of medimanage, you can ask them directly .


    2. Mahavir Chopra says:

      Hello Pankaj,

      Here’s why we recommended Apollo’s Premium Personal Accident Product to you. Remember, Manish has compared Apollo Standard with Bajaj Premium Guard.
      1. It has a better Temporary Total Disability cover of Rs. 10000 per week, and Rs. 15,00,000.
      2. It is more comprehensive cover, since it comprehensively covers all accident related expenses in one policy, including hospitalization costs, child education benefits, broken bones etc.

      So on a whole, we recommend a more comprehensive cover for a given risk, than concentrate on a part of the product. This is our perspective.

      However, like Jaiprakash said and decided, if you feel, that you want to cover PTD with a larger cover, you can definitely go for Bajaj Allianz’s product. It is definitely a good product.

      We try and recommend a suitable product from a macro perspective, it may or may not suit you always. It is always your call finally. We can always understand your needs better, and recommend you another product.

      Hope I was able to answer your queries.



      1. Pankaj says:

        @ Mahavir,

        Thanks a lot! You have cleared my doubts and now I know which product to select. 🙂


  133. Krishna says:


    Excellent one . Also comes at right time,when i was finalising the P.A policies. I think TATA AIG looks good one as it has additional features such as :
    Education allowance : In case of Accidental Death, 10% of the principal sum insured is paid towards your children’s education benefit.
    Repatriation of remains : An amount up to a maximum of Rs. 5,000 will also be reimbursed for the repatriation of the insured person’s remains.
    Modification allowance : In case of a Permanent Total Disability or Dismemberment, an amount up to a maximum of Rs. 1,00,000 will be reimbursed to you towards the cost of modifying your house or vehicle, to combat Disability.
    Double Dismemberment benefit for children: For your children who are automatically insured, Dismemberment benefit doubles.
    Family transportation: When as a result of an accident, the principal insured is confined in a hospital outside 150 kms of his residence, we will reimburse the actual transportation expenses incurred by the immediate family member, to reach the insured person up to a maximum of Rs. 50,000.

    Please let me know your opinion on this

    1. Krishan

      In the article I had covered only the most importnat features , otherwise the features you have mentioned are all there in all the policies .. I checked TATA AIG one also , but didnt find good reason to include it in the chart above .. so better ignore it ..


      1. Krishna says:

        Thanks Manish,

        So Bajaj is clear winner by comparing the features above. Am I correct?


        1. Krishna

          Atleast in this list ,yes


          1. Krishna says:


            Please review the accidental policy from Oriental also. It may give us the clear picture for deciding


            1. Krishna

              I had considered Oriental policy , but It didnt cheer me and it was not something to add here .


            2. Krishna says:


              Oriental Insurance looks the chepest one according to me for 25 lakh cover the premium is 1267. Where as the Bajaj is around 3 times more. What is ur opinion?


            3. Krishna

              It dependent on their premium policies how they calculate it , did you check all the features and what they have to offer .

  134. Ganesan says:

    Hi Manish,

    Thanks for the informative article. I am also sailing on the same boat like Ajay, whom you mentioned in the article, i am a breadwinner of the family, mother, wife and daughter are dependent on me, also serving a home loan of 45L. I am actually searching for a comprehensive accidental insurance policy to take care of permanent/temporary disability to take care of home loan, and finally found it in your article. Thanks once again for sharing the details. I will check with bajaj and other players and will get one for 50L ASAP. I am also looking for a term insurance for 1.5 crore, checking with Aviva and ICICI. To tell you the truth, your articles are the real triggering point to calculate the risk and mitigate the same in effective manner. This month is dedicated for policy month from my end, wanted to take PA, Term Plan and Medical insurance. If you have any suggestion pl share. Thanks – Ganesan

    1. Ganeshan

      Your decision of looking at 50 lacs of accidental plan is good one , Bajaj will give you 1 crore incase of PTD , 200% of SA .

      For term plan you can look at Aviva and LIC together or Aviva + Kotak


  135. murli says:

    Very informative article. As advice by you in recently I came out of unit link policy and I am in a process to switched over to LIC Jeevan Amulaya term plan. Your this article on PA Policy put my though process in action. I am planning to buy PA policy of Rs 25 Lakhs & with your above comparitive statement Bajaj Alliance is a clear winner.

    Thanks once again


    1. Murli

      Good to see that you are moving towards action 🙂 . Dont let time make you deviate from it 🙂 .. take action and update me


  136. Jhankar says:

    Thanks Manish for the informative post. I have one term insurance plan from LIC (Amulya Jeevan – I). Does it act as an accidental insurance as well? I’m not sure if this policy has rider for that ?
    How much minimum cover would you suggest ?

    1. Jhankar

      No , LIC jeevan Amulya is a pure term plan and there is no rider for accidental disability . So it will not act a accidental plan . You should take anywhere from 20-50 lacs of accidental cover


  137. Abhishek Bhardwaj says:

    Hello Manish,

    Thanks a lot for bringing this under purview of common people.
    Now, I prefer accidental insurance over term insurance. In the T&C of term insurance, there was one exclusion, Act of war declared or undeclared (Terrorist attack), riots. Unfortunately, if I die is such event, my family can’t claim anything. I discussed this with one agent and his answers were very vague, totally away from question.

    I think the T&C is really gross. Am I right in my understanding?
    Please advise.

    Best Regards,

    1. Abhishek

      Which term plan was it , it might be true .. but even in accidental plans terrorist attacks are generlaly not covered


  138. phani kumar says:

    Hi manish
    Its nice article and every one should know about PA. One more great article from you.Thanks for the research you have done.

    Thanks & regards
    phani kumar

    1. Phani

      Welcome 🙂 .


  139. som says:

    Manish, great article !!

    I have a small doubt can i buy the Bajaj Allianz Personal Guard online .. in the website i didnt see any links for buying online …


  140. Harsha says:

    Hi Manish,

    Thanx for another eye-opener article.
    I wonder you might have to make one change, I checked for compensation information on Bajaj Allianze website for Permanent disablement, it is mentioned like this: “..Highest compensation of 125% of the sum insured incase of permanent total disability..”


    1. Harsha says:

      Manish, you are right, I checked the details for ‘..Premium Personal Guard..’ and it says 200% for PTD.


  141. Pankaj says:

    No doubt Accidental Insurance is quite important.

    I had planned to take Add On AI and/or CI rider with the Health Insurance “Happy Family Floater”. But, I was advised to go for a separate policy so will get a separate AI and CI policy soon.

    I have been recommended “Apollo Munich Individual Accident – Premium” instead of “Bajaj Allianz Premium Guard”recommended by you?

  142. Dharmesh says:

    Hi Manish,
    Are you sure the PA policies have tax benefits?
    I have Tata AIG Income Guard policy & tax benefits are not available.

    1. Dharmesh

      Actually I made a mistake, there is no tax exemptions


      1. ranjith kumar says:

        hai i am ranjith kumar, i am doing p.hd in government arts college, kumbakonam, i have spent phd proposal towards term insurance, so no concreate idea towards term insurance, can you help to him, please send what book i shall read and what articles do i consider please sent me your guidance

        1. I dont know any literature other than what is available online !

  143. SAURAV says:

    Very informative… n once again U chose the topic I had in mind y’day… This can’t be coincidence yaar… 3 instances back to back… Thanks for the informative article… will surely take one… in fact probability of accidents happening to us is more than death.

    1. Saurav

      Thanks 🙂 . You are thinking about all the important things and I write on importnat things 🙂

      What is the action taken by you ?


      1. Saurav Sinha says:

        Thats true Mansih, but what surprises me is the timing of Ur articles with my thought process… amazing….
        … Im searching all these companies sites to get myself covered for this scenario as well… Do we have something like to conviniently buy accident covers Manish? Coz going thru sites is a bit cumbersome & there are too many details put together haphazardly ….

  144. Rakesh says:


    Very good explanation. Still debating on opting for National Insurance / Private players. Fellow members can share their experience on PA policies?


    1. Rakesh

      It would be better to debate on our forum , not many members here have experience in taking PA policies


  145. PolicyWala says:

    Plus critical illness.

  146. Anil Kashyap says:

    Hi, Manish !
    gr8 infos, thnx !
    i wish to buy 1 PA policy and 1 health insurancen olicy but form a co. which provide in-house admin. solution, no TPA !
    plz suggest some name of the co.
    an appeal to blog members to guide me , if possible !
    any comment about bajaj allianz ?

    1. Anil

      Better discuss this on forum

      1. Anil Kashyap says:

        sure, thnx!

      2. Anil Kashyap says:

        HELP !

        1. Anil

          I emailed you just now

  147. satish SA says:

    Another point to add; accident policy pays for losses due to such accidents which are external nature. Internal nature accidents are not paid. For example, a person slips, snake bites, vehicle hitting, kind are paid. But internal like heart attack, bleeding etc are not paid. Its a misconception that heart attack is an accident.

    1. Satish

      Thanks for updating that point , I didnt put much info on that in the article


  148. satish SA says:

    Good article Dear Manish,
    Comparison chart is really good. 80D exemption is surprising point however. As per Act, its only the medical insurance premium exempted, not the accidental insurance. Hence, exemption may be not true & I don’t think companies are giving exemption certificate.

    The accident policy pays lump sum as initially agreed under the policy conditions. There is no requirement of any card unlike under medical insurance. There are companies pay for hospital bills due to accident, which are really good additional covers everyone has to look for. These type of policies may exempted under 80D.
    While taking such additional benefit, check and confirm whether hospital expenses payable are for all kinds of accidents or only for major accidents.

    1. Satish

      80D exemptions are not there .. it was my mistake to mention it


  149. Jayaprakash Kanreddy says:

    Hi Manish,

    Another good one from your basket. I’ve taken PA policy from Bajaj allianz couple of months back.

    You mentioned that this policy comes under inocome tax exemption under section 80D. Are you sure about it? Because, before taking this policy I’ve compared more than 5 policies from different companies and did thorough research on all of these. But I never come across any company which says this policy has got income tax exemption. Can you confirm about this? Is there any specific variant in these policies which is getting income tax exemption? Did you see it on any of these companies website/brouchure?

    -Jayaprakash Reddy

    1. Puneet says:

      I believe it’s not true. AFAIK these are not eligible for tax benefits. But anyways tax exemption should not be the deciding factor for buying these policies.

    2. PolicyWala says:

      Deduction under section 80D is ONLY available for medical claim/ health insurance policy.

    3. Jayaprakash

      No , tax exemption is not there .. It was a mistake from my side , as i reffered to PDF , where it was mentioned . but later i found that its wrong


    4. Rakesh says:


      Can you please share your feedback/experience on the Bajaj policy.
      Are you satisfied?


      1. Jayaprakash Kanreddy says:


        I selected Bajaj allianz policy for the reason of its 200% SI in case of PTD. I’m least bothered about death benefit in this policy and was looking at other features as well and I felt this is good compared to other even though this is bit costly. I’ve taken this policy through MediManage so I cant say anything about Bajaj allianz’s interaction with customers. Everything was taken care by MediManage.

        1. Pankaj says:

          @ Jayprakash,

          Bajaj Allianz doesn’t offer these benefits: – Broken Bones, Transportation of Imported Medicine, Purchase of Blood, Modification of Residence/Vehicle in case of Permanent Total Disability, Family Transportation of a family member in case of Accidental Death/Permanent Disability.

          Apollo Munich Individual Personal Accident – Premium have these features and Medimanage have also recommend this policy to me (SI 25 lakhs).

          All features aren’t important but “Purchase of Blood” is a good feature. What are your views on this? Also, your views regarding PTD have made me consider Bajaj Allianz again??? Plz comment…

          1. Jayaprakash Kanreddy says:

            “Broken Bones, Transportation of Imported Medicine, Purchase of Blood, Modification of Residence/Vehicle in case of Permanent Total Disability” – If this is in case of only PTD then bajaj policy has 200% SI, so check whether the amount you get for above features in Apollo is greater than 100% SI. Family transportation is least for me so I cant say anything about it.
            By the way if you have health insurance then some of the above things are covered with that.

            These are my views only, even medimanage suggested me apollo but after thinking about all the other things my decision was to take bajaj and did it take it through medimanage after convincing them.

          2. sandeep says:

            i guess you get paid lumpsum in case of disability and can use that money for anything. isn’t it? or my understanding not correct.

            1. Jayaprakash Kanreddy says:

              Yes, that’s correct.

            2. Sandeep

              ywa .. but its true for TOTAL PERMANENT Disability ..


  150. prabee says:


    It great article and PA is something one should have to protect from all angles that life can throw.

    While you do mention the necessity of the policy ,it would be great if you can add the general procedure for claim. Like how soon should the insurance Co should be informed after accident. What documents to be submitted etc.

    1. Prabeesh

      I know that point is important .. but the amount of days and procedure comes next , before than i need to tell what is it and what all are options .. you can see the companies brochure on this point . Generally its around 30 days from the accident


  151. Amit Dani says:

    manish can u give ur views about Nagrik Suraksha Policy by oriental Insurance??

  152. Puneet says:

    Thanks Manish, it is very informative article about PA.

    Can we get some more info about National Insurance of Settlement Ratio on permanent or partial disablement and about pre-existing ailment/disease.

    1. Puneet

      I tried to find info on their website , but there was limited information . What info you want exactly ?


  153. Abhinav Gulechha says:

    Hi Manish

    Thanks for the informative article. Generally we take life and mediclaim policies and think we are well covered, but this is not the case. Personal accident is a less marketed product, which should be in the portfolio of everyone.

    Thanks also for the product comparison chart. It was really useful.

    I will definitely go for such a policy.


    1. Abhinav

      thanks a lot for appreciation 🙂 . Which policy are you planning to buy ? Which is the most important criteria for you to decide ?


  154. Ravi says:


    I read this comparison of personal accident policies. found it very interesting. Since future generali options were vague i visited their website to find out more. They have an interesting way of calculating your requirements. But adaptation was something i got confused. Has anybody gone through their website who can explain in detail?

    1. Ravi

      Yea i saw their website while collecting the data .. Their way of presenting it is very nice .. but I dont think its required ! 🙂


  155. Ashish says:

    Article is useful but I want to caveat author and readers from my personal experience that buying these policies doesn’t seem to be easy. Perhaps because of commission structure, or any other reason, short of barging into insurance office with my documents, I am not able to get hold of anyone who is willing to sell. I have left contact details on PolicyBaazar, Bajaj Allianz website, and Apollo Munich website for call back with my request but didn’t hear from any of them. I’ve even tracked down local office of Bajaj Allianz but they weren’t interested. Similar experience for life and medical insurance had calls coming to me for months. Surely, selling personal accident is not in interest of any of insurance providers.

    1. Ashish

      You might be right , which city are you in ?

      there are some policies which can be bought online also, did you try those ?


      1. Ashish says:

        Am in Bangalore. Didn’t see option of buying Bajaj or Apollo online. Do you know which ones can be bought online?

        1. Jayaprakash Kanreddy says:


          Try with MediManage, they will make it smooth and easy. I bought Bajaj Allianz PA policy through them.

          1. There will be an email too on their website , just put a mail there

            1. Ashish says:

              Thanks for the tip. I am able to get through MediaManage. I have a query but I cannot think of anyone else to ask so Manish will have to do the hard work 🙂

              How do multiple personal accident policy work for same person? For example, multiple policies are allowed under life insurance and claim on death is sum total of all. For health, multiple policies are allowed but claim on hospitalization is equal to actual in proportion to Sum Assured. What’s rule about personal accident policies for this?

              Say, I have two policies with coverage of 10L and 5L. And I break my finger, for which amount allowable by their tables may be 30k and 25k individually. So am I eligible for 30+25k=55k? Or maximum of 30k and 25k i.e. 30k? Does one company pay it or they split it in proportion of Sum Assured? I couldn’t find any answer online. Do things change if one policy is corporate and other is personal?

              Thanks for helping…

            2. That number of 30k and 25k are limits . means whatever the actual expenses, you can not get more than 30k and 25k , Now one simple rule to know is that you can not get more than expenses incurred. So if your actual expenses were 20k , you will not be able to claim more than 20k in total . Now this can come from 1 company or mix of companies

            3. Ashish says:

              Personal accident policy give money against claim. I don’t think there is concept of medical expense here. It’s life life insurance for your finger (etc.)

            4. Yes. there is no concept like this

            5. Bhaskar says:

              Manish ,So as you agreed there is no concept of medical expense here then what would be the claim here 30+25k=55k? Or maximum of 30k and 25k i.e. 30k Does one company pay it or they split it in proportion of Sum Assured?

    2. Anupam says:

      You are very right.Even Agents,Customer Care Executives are also not well conversant on matter.These people after finding that you are interested in buying PI policy will tell to return back with all details then they will never call.I think selling PI policies is not profitable to them.

  156. kumar says:

    Thanks for an such a informative article.

    it was an eye opener for me.

    Planning to take one!


    1. Kumar

      which policy are you going to take ? What sum assured ?


  157. Amol says:


    Thanks for this important one.Just browsed through Company PA policy and found out that I have one with 5 lacs cover. two questions for you:-)

    1. How much cover Should one have for PA as a thumb rule?

    2. For mediclaim policies Company gives you a TPA card which you have to sub mit for Cashless transaction. but for PA policy I have not recieved any reference number or any kind of doc.Should I ask my company for the same??

    Thanks & Regards,

    1. Amol

      1. As there can be life long effect because of accident , its better you have maximum cover like 50 lac .

      2. Yes you should ask your company


      1. Amol says:

        Thanks Manish!

  158. ASHOKE KUMAR DEB says:

    What a article you have discussed here… I am again grateful of you.
    I knew from you all the benefit of Accidental Policy..which I did not
    know earlier….Thanks a lot…

    1. Ashoke

      So , are you buying these policies ?


  159. R G Budhar says:

    Dear Manish,

    I am a regular reader of your articles. Thanks for keeping it simple and understandable by common folk.
    My comment is not related to PA but term policy. Recently I lost my co-brother to heart attack. Later, I came to know that he HAD term policy for past five years and told his wife that paying premium for that is a waste and discontinued. Unfortunately, within 30 days of expiry of the policy, he died. And his family could not claim anything from Insurance Company.

    Many of us make the mistake of thinking that investing in insurance should give returns like MF or other instruments. So, PA policies also should be considered a necessary instrument for the family’s future by those who live in cities and commute daily.


    RG Budhar

    1. RG Budhar

      Thanks a lot of updating us on this . A lot of people should read this case of yours and know that paying for term plan is not a waste !


    2. Francis Xavier R says:

      Dear Mr.Budhar,

      If the term insurance taken by your co-brother is with annual premium payment mode, then the policy was normally having 30 days grace period. If a claim were made within the grace period, the insurance company is liable to pay the claim but the company has the right to deduct the amount of the overdue premium from the proceeds of the payment of the claim.

      Pls help your co-brother family to check all the details once again with the Insurance company. If they could get the sum assured then it will be great help to them.

      Francis Xavier R

  160. chandra prakash shahi says:

    If i have three policies (1) Accidental police for 3 lakh (2) Endowment police for 1 lakh from LIC & (3) And having under cover from ESIC & Pf .

    Can i get the claim benefit from all the four departments in case of death .
    Pls clearify to me

    1. Chandra

      Yes , you can get it from all the 3 , but you will get it from Accidental policy only if your death is because of accident , else not


  161. K.M.Manohar Kumar says:

    A very well compiled and useful information. Thank you Manish. I am 63 years old and retired. My current income is through company dividends, house rent and fixed income on other investments. Does the sum assured in accident insurance depend on income of the insured person or is income irrelevant? How does pre-existing ailment/disease affect payout in event of disablement or death due to accident? Since there is no health check up, does one have to disclose all pre-existing conditions while applying for an accident insurance policy and is such application likely to be rejected? I would be grateful if you could clarify my doubts?

    1. KM Manohar

      I am not sure about the income level , but it would be asked mostly. any accident or disability arising out of Pre-existing ailments are not covered and hence you will have to disclose them in start itself .

      Incase you are not in job right now, I dont think these kind of policies would be very useful for you


  162. Balaji says:

    Hi Manish,

    I dont think we can get benefits under section 80D for personal accident policies.
    Are you sure?


    1. Balaji

      You are correct , there are no 80D benefits , it was my mistake


  163. DB DESAI says:

    In case of temporary total disablement of the policyholder requiring to claim compensation for loss of income, it is a precondition that the policyholder should have regular source of income from gainful employment and if yes what is the definition of gainful employment/direct employment? Does it mean only salaries class of policyholders?

    Secondly, while granting the insurance cover under various sections of the personal accident policy income of the policyholder(proposer) is considered or not? If yes, how the limits are calculated?

    1. DB Desai

      Yes , a person should not have a gainful employment to get the income from accidental policies . But I think companies do not see or check it . If their criteria is met, then they will start giving the accidental income .


  164. Parag Shah says:

    Dear Manish,

    Nice and Useful Article.

    I want to share one thing with u; 2 days before me and my wife approached to an agent of The New India Assurance Ltd. for PA. He gives us the all information of PA.
    But he told us that PA is not claim for Tax benefit under Section 80 D.
    Weather it is correct or Company wise rule will change. Bcoz In u r article u mention that PA can claim for Tax benefit under Section 80 D.
    Plz can u provides me the name of companies who provides PA with Tax Benefit.

    1. Parag

      There was a mistake from my side . there is no tax benefit under accidental policies


  165. Ashish says:

    The premium chart shown is for which benefits. I mean, whether it includes benefit 1 i.e. death cover only or benefit 1 to 6???

    1. Ashish

      What are benefits 1-6 ? see the chart , it gives you the full idea


  166. Siva Prasad says:

    Dear Sir,

    As per you, Premium will vary with the risk associated with the Job. But you have sited single premium in the chart. Atleast tell, at what risk level premium is calculated.
    As the crucial information for Future Generali is not mentioned/ not available, I think chart is not completed and we can not depend.

    Thank You
    R Siva Prasad

    1. Siva

      The premiums are for low risk professions . I have updated that in the article now


  167. KK says:

    Hi Manish,

    Thaks for bringing in such a nice article, with complete comparison.

    I believe, ICICI too provides accidental insurance! Below questions popped up when I was reading the article,

    1. Currently I am covered for Accidental Insurance by my Employer, and If I take a seperate PA myself, in case of accident, will I get benefits from both the insurance providers?

    2. This could sound silly, I have a mediclaim and get tax exemption for it under Section 80 D, if I take PA can, can I get tax exemption for PA also?


    1. KK

      I have seen ICICI accidental plan , its not that comprehensive .

      1. Yes , you should be able to get the claim covered by both the companies .

      2. Yes , you get 80D deductions from accidental plans also

      1. KK says:

        Thank you, Manish

    2. Anupam says:

      Only Mediclaim policy will entitle you for tax exemptions not PA policy.

  168. mota bankim says:

    Very good massage of personal accident detail with comperition.My suggestion to add IFFCO TOKIO P.A.Policy they provide up to 2 Cr.If your income is 20 Lacs PER ANNUM & weekly compensation 25000 per week.
    Bankim mota

    1. Bankim

      Thanks for suggesting that policy . Do you have that one ?


    2. Saurav Sinha says:

      Hi Mr. Bankim,
      I was no able to find the details as in sum assured, premium, etc in iffco-tokio website Is there any other site from which you mentioned about 2cr cover?

      1. Saurav

        Searching is an art .. just type “iffco tokio personal accident” in google and see the first link 🙂 , which is


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