Information wanted regarding PERSONAL ACCIDENT policies

[Veerendra]

Dear all,

I am a self employed professional. I want to take a PERSONAL ACCIDENT POLICY for myself and my family. Please suggest which is the best policy.

* Is it possible to take personal accident policy with my brother in laws family also

* Are there companies who offer personal accident policies which are not dependent on the IT returns you file. As I understand the PA policies of PSU insurance companies depends on the IT returns you file. You can PA policies up to 100 times your monthly income.

* Are any companies offering “floater ” personal accident policies.

* I have SECURED FUTURE plan of Tata AIG. In case of any unfortunate accident the can the company from whom I take PA policy refuse compensation ( as I already have secured future plan of TATA AIG). I have also taken JANTA PERSONAL ACCIDENT POLICY from oriental insurance. Do these policies clash ?

* Are there any companies which offer PA policies for more than 1 year term.

I hope the forum answers all my questions.

Thanks in advance for all the inputs.

Regards,
Veerendra

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[Rahul]

* Is it possible to take personal accident policy with my brother in laws family also

No, You can take a policy individually or in a group. But the group should not be formed specially for taking the PA policy.

* Are there companies who offer personal accident policies which are not dependent on the IT returns you file. As I understand the PA policies of PSU insurance companies depends on the IT returns you file. You can PA policies up to 100 times your monthly income.

Income proof is mandatory for Sum Insured more than 2 Lakhs in Public Companies.

* Are any companies offering “floater ” personal accident policies.

No.

* I have SECURED FUTURE plan of Tata AIG. In case of any unfortunate accident, can the company from whom I take PA policy refuse compensation ( as I already have secured future plan of TATA AIG). I have also taken JANTA PERSONAL ACCIDENT POLICY from oriental insurance. Do these policies clash ?

For some parts 'Yes' for some parts 'No'.
Yes - For the claim of Income Loss.
No - For claim of 'Death' or loss of any other body parts etc.

* Are there any companies which offer PA policies for more than 1 year term.

Yes, 'Secured Future plan' of Tata AIG is a long term plan.

[Madhura]

Veerendra,

You can also try ICICI Lombard - they also have long term policy upto 5 years.

[ravikumar]

Accident insurance is must for every common man and especially vehicle owner to cover injuries due to an accident.
I think ICICI is best for Accident insurance policy

[Veerendra]

Veerendra,

You can also try ICICI Lombard - they also have long term policy upto 5 years.

Many thanks for the information.

How is the service of ICICI Lombard and are their premium rates equivalent to premium rates of PSU insurance companies.

Is there anything in the fine print that we need to be aware of ?

Pls enlighten.

Regards,

Veerendra