Personal accident insurance helps you restore the financial losses you may incur due to accidents. You as a policyholder can claim this cover as a standalone policy offered by a general insurer or as a rider along with your life insurance policy. Standalone policies, however, offer comprehensive coverage than the accident riders. Besides covering for accidental death, standalone accident insurance offers cover for permanent and partial disability, hospitalisation, ambulance charges and accident out-patient expenses. Such plans also offer add-on options, including child’s education benefit, funeral expenses, treatment for fractures and purchase of blood or prosthetics. Some of the insurers that offer standalone personal accident plans are Max Bupa, Apollo Munich and Bharti AXA.

Note that, as personal accident cover is seen as an income protection plan, your income and profession will determine the premium to be paid as well as the maximum cover you will be eligible to. Usually, the maximum sum insured you can get is 10 times your annual income, and the premium is decided by your profession. The riskier the profession, the more expensive will be the policy.

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