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Written ByPalak Bagadia

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Palak Bagadia, Associate – Digital Marketing at Bajaj Life Insurance, with experience spanning content and performance marketing, recruitment, employee engagement in the BFSI industry, with a strong understanding of the insurance sector.

Reviewed ByAvdhesh Gupta

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Avdhesh Gupta, Appointed Actuary at Bajaj Life, brings close to 20 years of experience across life insurance, reinsurance and consulting. He plays a key role in strengthening risk governance, ensuring long-term financial sustainability, and driving customer and shareholder value. He oversees actuarial and risk functions, including valuations, embedded value, product pricing, regulatory and shareholder reporting, and enterprise risk management. Avdhesh also leads global reinsurance partnerships and serves on the Advisory Group of the Institute of Actuaries of India on IFRS 17

Date Published : 17th May 2025

Date Modified : 14th July 2026

Types of Personal Accident Insurance Policy
Accidental Insurance Coverage
Benefits of Personal Accident Insurance Policy
Documents Required to File a Personal Accident Insurance Claim
Who Can Get a Personal Accident Insurance Policy?
Why Choose Personal Accident Insurance?
Difference Between Personal Accident Insurance and Life Insurance
Difference Between Personal Accident Insurance and Critical Illness Insurance
Why Bajaj
FAQ's

Types of Personal Accident Insurance Policy

There are two main types of personal accident insurance policies: Individual Accident Insurance and Group Accident Insurance. Each type is designed to meet different needs depending on who it covers.

Individual Accident Insurance

Individual Accident Insurance covers a single person against accident-related risks like injuries, permanent disabilities, or death. If anything unfortunate happens, the insured or their nominee will get the financial benefits. This is a personal plan meant for individuals who want complete protection for themselves.

Group Accident Insurance

Group Accident Insurance is usually taken by employers or organisations to cover a group of people. The policy protects employees or members during accidents. It often comes at a lower cost per person. However, benefits under group plans may not be as comprehensive as those offered in individual policies.

Accidental Insurance Coverage

A good accident cover policy in India usually offers these types of protections:

Accidental Death: In case of death due to an accident, a lump sum is given to the nominee.
Permanent Total Disability: If the accident leads to complete disability, a certain amount is paid.
Permanent Partial Disability: If the insured suffers partial disabilities, they receive part of the insured sum.
Temporary Total Disability: If someone is temporarily unable to work due to injuries, they get a weekly or monthly payout to manage expenses.

Accidental Death Cover

If the insured person dies in an accident, the nominee receives the full insured sum. This financial help can cover family expenses, debts, and children’s education. It ensures that your loved ones have financial support during tough times.
Permanent/Total Disability Cover

If an accident leaves the insured completely disabled (like loss of eyesight or limbs), they are paid a large part of the sum insured. This money can be used to meet future needs, medical expenses, or home adjustments.
Permanent Partial Disability Cover

For injuries that cause partial but lifelong disabilities (like losing a finger or one eye), a portion of the insured amount is paid. This helps the insured person manage life and adjust to the new changes.
Temporary Total Disability

If the accident leads to temporary complete inability to work, the insured receives a regular amount for a fixed period. This money can be used for daily expenses, EMIs, and other needs until the person recovers.

Benefits of Personal Accident Insurance Policy

A personal accident insurance policy offers many important benefits that can help you and your family stay strong during difficult times. Let’s understand them one by one.

Covers Medical Bills:

This policy helps you pay for hospital stays, doctor visits, surgeries, medicines, and even ambulance rides after an accident. You do not have to worry about large medical bills when you are already dealing with injuries.

Provides Income Support:

If you are unable to work after an accident, personal accident insurance can give you a regular amount of money. This income support can help you take care of your household expenses until you recover.

Protects Family’s Future:

If the worst happens and the insured person passes away in an accident, the family receives a lump sum payment. This money helps them manage daily expenses, education, and other needs.

Covers Disabilities:

The policy provides financial help if you suffer from a temporary or permanent disability. Whether it’s a broken bone or a major injury, the insurance offers important support.

Children’s Education Support:

Some personal accident plans help pay for your children's education if you face a major accident. This ensures that their studies do not get interrupted.

Daily Cash Benefit:

Many plans offer daily cash for small costs during hospital stays, such as food or travel expenses.

Quick Claim Settlement:

If you provide all the needed documents on time, the claim process is usually very fast.

Home Modification Allowance:

If a disability requires changes at home, like adding ramps or support bars, the policy helps cover those costs.

Loan Protection:

If you have ongoing loans, the policy can help in paying EMIs if an accident affects your ability to work.

Burn and Broken Bone Coverage:

Extra compensation is provided if you suffer burns or broken bones in an accident.

Documents Required to File a Personal Accident Insurance Claim

To claim your accident cover policy India, these documents are needed:

Claim form
Copy of insurance policy
FIR (for accidents)
Medical reports and bills
Disability certificate (if applicable)
Death certificate and post-mortem report (if applicable)

Who Can Get a Personal Accident Insurance Policy?

The personal accident insurance policy is available for anyone who falls within the 18 to 70 years of age. The insurance requires policyholders to maintain good health alongside normal test results that exclude severe diseases, including heart problems, cancer, and diabetes. Having a major illness at present might decrease your eligibility for securing this type of insurance coverage.

What type of job you have determines factors related to your eligibility. People with hazardous occupations, including explosive handling and war-zone missions need extra coverage approval or must pay elevated premium costs. At all times, maintain truthful representation regarding both your occupational role and your state of health during policy application.

Personal accident insurance is a good option for many types of people, such as:

Salaried Employees who travel to work every day.
Self-employed Professionals like shop owners, freelancers, or consultants.
Homemakers who manage household work and responsibilities.
Students who commute daily for studies or part-time work.
Retired Individuals who still wish to stay financially protected.

In short, this insurance is important for anyone who wants to keep their family and themselves safe from sudden money problems caused by accidents. It gives peace of mind and financial support when you need it the most.

Why Choose Personal Accident Insurance?

Here’s why a personal accident insurance policy is important:

Affordable Protection: Premiums are often very affordable.
Covers Hospitalisation Costs: No stress about sudden medical bills.
Income Support: Weekly allowance during recovery.
Family Support: Lump sum payout helps your loved ones financially.
Loan EMIs Protection: Helps manage ongoing loans in tough times.
Child Education Support: Covers children's education if an accident leads to major disability or death.

An accident cover policy in India helps you stay financially strong when life throws unexpected challenges.

Difference Between Personal Accident Insurance and Life Insurance

Personal accident insurance and life insurance serve different needs.

Parameters	Life Insurance	Personal Accident Insurance
Coverage	Death from any cause (except suicide in early period & other exclusions depending from insurer to insurer)	Death, disability due to accident only
Partial Disability	Covered only in rider	Covered
Accidental Injuries	Covered only in rider	Covered
Critical Illness	Sometimes Covered (in riders)	Not Covered
Waiting Period	May apply	No waiting period

In simple words, life insurance covers overall life risks, while personal accident insurance is specific to accidents.

Difference Between Personal Accident Insurance and Critical Illness Insurance

Both insurances are important but offer different protections.

Parameters	Personal Accident Insurance	Critical Illness Insurance
Purpose	Covers accidents causing injury/disability/death	Covers specific serious diseases like cancer, heart attack
Claim Trigger	Accident	Diagnosis of illness
Sum Payout	Based on injury or death	Lump sum after diagnosis
Waiting Period	No waiting period	Up to 90–180 days

Personal accident insurance protects you from the financial burden of accidents, while critical illness insurance helps manage treatment costs of serious illnesses.

99.33%

Claim Settlement Ratio^~

266%

Solvency Ratio 266%^{^^^}

3.47 cr

Number of Lives Covered^##

₹1.40 lakh cr

Assets Under Management (AUM)^***

AAA

Stable Rating by CARE^$$

₹8,511.97 cr

Amount of Individual claims paid*

Disclaimer:^~Individual death claim settlement ratio FY-2025-26 | ^{^^^}Solvency ratio 266% as at 31 March 2026 against IRDAI mandated 150% | ^##Individual and group, as on 31st May, 2026 | ^***Asset under management (AUM) ₹1.40 lakh crore as on 31st May, 2026 | ^$$For details refer to press release published by CARE | ^*All figures are from FY 2006-07 to June 2026.

Frequently Asked Questions

How to claim PA cover?

The first step to claim personal accident insurance requires immediate notification to your insurer during the incident happening. Complete the claim form with due care after damaging events occur. The insurance claim process requires you to send crucial paperwork, which includes hospital expenses bills, along with medical examination reports, in addition to valid identification documents. You need to present an FIR copy to the insurer when police are involved in the accident. The insurer conducts a thorough examination of your submitted papers before approving your claim as long as the information is accurate. Storing duplicate copies of your documents proves essential to prevent any delay.

What kind of documentation is required for PA cover?

When you file a claim under personal accident insurance, you must share some important papers. These include your insurance policy copy, a filled claim form, hospital bills, doctor’s reports, and a certificate for any disability (if needed). If there is a police case, you also need an FIR copy. Always attach a copy of your valid ID proof, like an Aadhaar card. Submitting the right documents quickly helps the insurer process your claim faster and smoother.

Are there any long tenure plan options available under this policy?

Yes, some insurers offer personal accident insurance plans that cover you for 2 or 3 years at once. These are called long-tenure plans. Buying a longer-term plan can save you from the hassle of renewing it every year. It also ensures you stay protected without any break in coverage. However, you must check with your insurer if such options are available, as not every plan gives long-tenure choices. Always read the terms carefully before buying.

If I suffer from an accident and get hospitalized, will I get medical expenses benefit?

Yes, if your personal accident insurance policy includes hospitalisation cover, your medical bills will be taken care of. This can include expenses like room rent, doctor’s consultation fees, surgery charges, medicines, and other treatments needed because of the accident. Some plans also offer daily cash benefits during hospital stay. It is important to read your policy document to know exactly what is covered, so you are prepared during any emergency without worrying about the costs.

What is the limit of personal accident insurance?

The coverage limit, also called the sum insured, can vary based on what you choose. It usually starts from around ₹5 lakhs and can go up to ₹1 crore or even higher. The ideal coverage amount depends on your monthly income, living expenses, ongoing loans, and future financial needs. A good rule is to pick a coverage amount that is about 100 times your monthly salary. This helps ensure your family’s financial security if anything unfortunate happens.

Can I buy 2 personal accident insurance?

Yes, you can buy more than one personal accident insurance policy. If you have two policies and an accident happens, you can claim benefits from both, depending on the terms and sum insured of each plan. Some people prefer to have extra protection by having two small covers instead of one big cover. However, always inform both insurers about all your existing policies to avoid confusion later during the claim process. Transparency makes claims easier and faster.

Is there a waiting period for personal accident insurance?

Usually, there is no waiting period for personal accident insurance. Once you buy the policy and it becomes active, you are covered immediately from the start date. This means if you meet with an accident even the next day, you are eligible to make a claim. However, it is always wise to check the specific policy wording, as a few insurers may have special rules for certain benefits. Reading the policy document carefully helps avoid surprises later.

How much does a personal accident policy cost?

The cost of a personal accident insurance policy depends on your age, the risk level of your job, and the coverage amount you choose. People with high-risk jobs like construction workers may pay a slightly higher premium. In general, the premium is affordable, often starting from just a few hundred rupees a year. For larger coverage like ₹50 lakh or ₹1 crore, the premium is higher. Always compare plans and pick one that suits your needs best.

What is not covered in personal accident insurance?

Natural death, pre-existing disability/injury, suicide/injury caused by drugs or alcohol, injury as a result of a mental illness, or war or criminal activity are not covered under personal accident insurance .

Is personal accident insurance the same as health insurance?

No, personal accident insurance is different from health insurance. Personal accident insurance is a fixed-benefit plan that covers only accident-related events. This covers all accidental death, disability or injuries resulting in hospitalisation. On the other hand, Health insurance is typically an indemnity plan that protects against costs incurred due to illnesses and accidents.

Can I buy personal accident insurance online?

Yes, you can buy personal accident insurance online. You can also compare the policies from different insurance companies that are registered with the IRDAI (Insurance Regulatory and Development Authority of India).

What is the age limit for personal accident insurance?

The minimum age for buying personal accident insurance is 18 years, while the maximum age usually ranges from 65 to 70 years, depending on the insurer’s guidelines and policy terms.

If I meet with an accident outside India, will the personal accident insurance policy cover me?

Generally, many personal accident insurance policies offers worldwide coverage. Even if you meet with an accident outside India, you may be covered. It is always best to check the specific policy terms, geographical limits, and insurer’s underwriting guidelines.

How does the death benefit installment option work in personal accident insurance?

The death benefit installment option in personal accident insurance allows your nominee to receive the payout in multiple ways. They can either receive the payout in regular payments (monthly, quarterly, or annually) or take a one-time lump-sum payment.

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Disclaimer

Claim Settlement Ratio of 99.33%^~

Personal Accident Insurance

Get ₹1 Crore Term Insurance Plan at ₹15*/Day

Enjoy a 16% Discount on 1^st year Premium**

Bajaj Life Term Insurance Plans

Types of Personal Accident Insurance Policy

Accidental Insurance Coverage

Benefits of Personal Accident Insurance Policy

Documents Required to File a Personal Accident Insurance Claim

Who Can Get a Personal Accident Insurance Policy?

Why Choose Personal Accident Insurance?

Difference Between Personal Accident Insurance and Life Insurance

Difference Between Personal Accident Insurance and Critical Illness Insurance

Why Bajaj Life Insurance ?

Frequently Asked Questions

How to claim PA cover?

What kind of documentation is required for PA cover?

Are there any long tenure plan options available under this policy?

If I suffer from an accident and get hospitalized, will I get medical expenses benefit?

What is the limit of personal accident insurance?

Can I buy 2 personal accident insurance?

Is there a waiting period for personal accident insurance?

How much does a personal accident policy cost?

What is not covered in personal accident insurance?

Is personal accident insurance the same as health insurance?

Can I buy personal accident insurance online?

What is the age limit for personal accident insurance?

If I meet with an accident outside India, will the personal accident insurance policy cover me?

How does the death benefit installment option work in personal accident insurance?

Term Insurance Guide

Customer Speaks

Popular Searches

Most Searched on Bajaj Life

Personal Accident Insurance

Get ₹1 Crore Term Insurance Plan at ₹15*/Day

Enjoy a 16% Discount on 1st year Premium**

Bajaj Life Term Insurance Plans

Types of Personal Accident Insurance Policy

Accidental Insurance Coverage

Benefits of Personal Accident Insurance Policy

Documents Required to File a Personal Accident Insurance Claim

Who Can Get a Personal Accident Insurance Policy?

Why Choose Personal Accident Insurance?

Difference Between Personal Accident Insurance and Life Insurance

Difference Between Personal Accident Insurance and Critical Illness Insurance

Why Bajaj Life Insurance ?

Frequently Asked Questions

How to claim PA cover?

What kind of documentation is required for PA cover?

Are there any long tenure plan options available under this policy?

If I suffer from an accident and get hospitalized, will I get medical expenses benefit?

What is the limit of personal accident insurance?

Can I buy 2 personal accident insurance?

Is there a waiting period for personal accident insurance?

How much does a personal accident policy cost?

What is not covered in personal accident insurance?

Is personal accident insurance the same as health insurance?

Can I buy personal accident insurance online?

What is the age limit for personal accident insurance?

If I meet with an accident outside India, will the personal accident insurance policy cover me?

How does the death benefit installment option work in personal accident insurance?

Term Insurance Guide

Customer Speaks

Popular Searches

Most Searched on Bajaj Life

Enjoy a 16% Discount on 1^st year Premium**