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Personal accident insurance is a policy that can provide you with financial protection against uncertainties such as accidental death, injuries, and partial or total disability resulting from an accident. In case of the policyholder’s unfortunate death, a lump sum amount is paid to the nominee. In this article, let us understand everything about personal accident insurance, including its types, benefits, and exclusions....Read More
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Written byLakshey Bahl
Insurance Writer
Published 29th August 2023
Reviewed byVaibhav Kumar
Last Modified 4th September 2025
Insurance Domain Expert
We are now Axis Max Life Insurance
Max Life Insurance is now Axis Max Life Insurance, marking a new chapter in our journey to serve you better. This strategic change comes with Double Bharosa and is expected to bring more trust followed by better brand visibility for Axis Max Life Insurance. This brand transformation does not affect your existing policy benefits, terms & conditions, premium amounts or the quality of services you receive. So, all the commitments we've made to you remain unchanged.
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Our contact details, including helpline numbers and email addresses, remain unchanged. Our dedicated customer support team is always ready to assist you with concerns as usual. Should there be any future updates, we promise to keep you informed well in advance.
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What is Personal Accident Insurance?
A personal accident insurance policy provides protection against death, permanent total or partial disability, and temporary disability in case of an accident. In case of death or permanent disability, the insurer pays a sum insured, and the policy terminates thereafter.
While in the case of partial disability, only a percentage of the sum insured is paid depending on the severity of disablement, whereas a weekly compensation is provided in case of temporary total disability. The personal accident insurance policy is renewable if the accident results in permanent partial disability or temporary total disability.
The personal accident insurance policy can be seen as an income protection plan where your profession and income determine your maximum cover and premium rates. Generally, you can get a maximum cover that is 10 times your annual income, and the premium rates usually depend on your profession. You can use online premium calculator to calculate premium based on your profession.
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What is Covered Under Personal Accident Insurance?
Both life insurance and health insurance products cover for specific eventualities and provide coverage to mitigate the financial implications of the eventuality. At the same time, personal accident insurance offers additional coverage for a wider range of possible accidents. It can provide coverage for loss of limbs or disabilities caused due to an accident at the workplace or while travelling, etc. This insurance policy can help you create a financially stable environment against any possible eventuality.
Let us look at some of the key things covered under the personal accident insurance policy: -
1. Accidental Death Cover
An emergency such as an accident can be both financially and emotionally distressing for the policyholder’s family members. In case the policyholder suffers fatal injuries or dies due to the accident, the entire sum insured is paid to the nominee as mentioned in the policy document.
2. Permanent Total Disability Cover :
If the accident results in permanent disability or lifelong impairment such as loss of limbs, then a pre-determined sum insured is paid to the policyholder depending on the severity.
3. Permanent Partial Disability Cover
Under the personal accident insurance policy, a certain percentage (up to 100%) of the sum insured is paid to the insured in case of bodily injuries resulting in permanent partial disability.
4. Temporary Total Disability Cover
If the policyholder meets temporary total disability and gets bedridden, the insurer provides a weekly allowance as compensation for the loss of income. The insured can even use this claim amount to pay thei
Selecting the Right Sum Assured for Term Insurance
term insurance with the correct life cover is essential for the financial protection of your family. Know more on how to decide the sum assured for your term insurance. You can click on the below tabs and choose the adequate sum assured:
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Standard daily premium for 24-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V08). ARN: C/SA/210725
Types of Accident Insurance Policy
The personal accident insurance policy can be divided into two categories. Let us briefly talk about both types: -
Individual Personal Accident Insurance
This is the more common type of personal accident insurance policy, where the insured opts to cover themselves against uninvited accidents. The accidental damage cover includes accidental death, loss of sight or limbs, or other permanent disabilities resulting from the accident.
Group Personal Accident Insurance
This type of personal accident insurance policy applies to a group of people who have something in common—be it employment type or location. Employers generally take these to provide coverage to their employees. Depending on the group size, the insurance company may provide discounts on the premium.
It is a good value-added advantage for small organizations as this policy is available at a low cost. However, this is only a basic plan and offers limited benefits compared to the individual plan.
Benefits of Buying a Personal Accident Insurance
Personal accident insurance is a useful policy to get financial assistance for yourself and your family in the event of an accident. This policy provides comprehensive coverage for accidental death or disabilities. Here are some of the benefits provided under this policy: -
1. Dismemberment Cover
Most personal accident insurance policies offer the benefit pay-outs for the dismemberment of any kind occurring due to an accident. The insurers have pre-determined percentages and ratios in which the benefit is paid to the policyholder.
2. Coverage for Burns
This is an optional extra coverage under the personal accident insurance policy. And this additional insurance covers the possible dismemberment or death due to burns. The cost of treatment is reimbursed to the insured after hospitalization.
3. Reimbursement of Hospitalization Expenses
The insurance company reimburses all or part of the expenses incurred at the hospital. All the medical expenses, room rent charges, doctor’s consultation fees, medical tests, etc., are considered for reimbursement.
4. Daily Allowance
Some insurance companies provide daily cash allowance for the expenses arising due to hospitalization. This allowance to meet the unexpected hospital expenses can be given for up to 30 or 45 days of hospitalization.
5. Education Grants
Depending on the insurer, the policyholder may or may not be eligible for the education grants pay-out. An additional amount to be used for tuition fee payment for the dependent children is paid out to the policyholder. This is a common benefit provided by many insurance companies.
6. Reimbursement of Transportation Expenses
Under the personal accident insurance policy, some insurance companies also provide coverage for the cost of transportation of the mortal remains of the insured person.
Life vs Health vs Personal Accident Insurance
Life and health insurance products offer protection against specific financial eventualities, while personal accident insurance offers wider coverage for possible accidents. Here is a brief comparison of these three types of insurance policies: -
What is Not Covered Under Personal Accident Insurance?
Exclusions refer to the provisions under an insurance policy that restricts coverage due to certain conditions. It includes the things that are not covered under the plan. The personal accident insurance policy also has some exclusions. They may vary with the insurer, as the comprehensive list of exclusions is only communicated to the policyholder.
Here is a general list of exclusions under the personal accident insurance policy: -
1. Intentional Injury
An emergency such as an accident can be both financially and emotionally distressing for the policyholder’s family members. In case the policyholder suffers fatal injuries or dies due to the accident, the entire sum insured is paid to the nominee as mentioned in the policy document.
2. Injuries from Civil or Foreign Wars
If the accident results in permanent disability or lifelong impairment such as loss of limbs, then a pre-determined sum insured is paid to the policyholder depending on the severity.
3. Injuries Due to Consumption of Alcohol or Drugs
Under the personal accident insurance policy, a certain percentage (up to 100%) of the sum insured is paid to the insured in case of bodily injuries resulting in permanent partial disability.
4. Accidents Due to Riding a two-Wheeler over 150cc
The claim for a personal accident insurance policy will be rejected if the accident is determined to have been caused while the policyholder was riding a two-wheeler with an engine capacity of more than 150cc.
5. HIV/AIDS/STDs
If it is found out that the accident leading to death or disability is caused because the policyholder suffers from an STD, the claim will not be honoured.
6. Injuries Due to Involvement in Violent Public Disturbances
The involvement of policyholders in any kind of public disturbance, protest, riot, strike, demonstration, etc., can cause the personal accident insurance claim rejection.
7. Injuries on Duty with Military/ Paramilitary/ Police Force
Injuries caused due to policyholder’s duty with the military, paramilitary, or police force are also not covered under the personal accident insurance policy.
8. Injuries from Unsafe Sports
If the injuries are caused due to participation in unsafe sports such as mountaineering, rafting, bungee jumping etc., the claim will be denied.
9. Pre-existing Illnesses
If the accident occurs as a result of a pre-existing medical condition or a worsening illness, the policyholder will not receive the claim benefits.
10. Claim Arising Out of Pregnancy/Childbirth
The claim arising from pregnancy or childbirth-related issues will not be covered under the personal accident insurance policy.
Who is Eligible?
Here are the eligibility criteria for the personal accident insurance policy: -
- Individuals between 18 to 65 years of age are eligible for the personal accident insurance policy.
- You can buy this policy for any family member(s).
Check out the different Online Insurance Plans from Axis Max Life!
- Axis Max Life Smart Secure Plus Plan
In case of your demise during policy term, your family will receive a comprehensive death benefit for your familyTo assist you achieve your life goals, there are guaranteed maturity advantages, income benefits, and guaranteed additionsKnow moreLump sum, short-term, long-term, and whole-life income options with distinctive benefits are available - Axis Max Life Smart Wealth Plan
Comprehensive death benefit for your family member(s) in case of your unfortunate demise during policy term
Guaranteed maturity benefits/Income Benefit and accrued guaranteed additions to help meet your life goals
Know moreMultiple variants -lumpsum, short term income, long term. income, and whole life Income with unique benefits
- Long Term Income
Guaranteed Income benefit for 25 or 30 years after the policy period ends, as per the sub variant selected
Terminal benefit which equals total premiums paid, post completion of the payout period payable to nominee
Know moreFour premium payment options – 6, 8, 10 and 12 years to be chosen as per suitability of the plan for your needs
- Term Plan with Return of Premium
Option to receive the premiums paid back on successful survival of the insured till end of policy term
Death benefits for your family members in case of any eventuality leading to the loss of your life
Know moreLimited pay options to pay for term plans with return of premium - 5 Pay, 10 Pay, 12 Pay, 15 Pay, or 60 Pay
- Axis Max Life Critical Illness and Disability RiderGuaranteed income benefit for 25 or 30 years after the policy period ends, as per the sub-variant selectedTotal and Permanent Disability Cover on the occurrence of disability arising from sickness or injuryKnow moreTwo premium payment options – 6 and 10 years to be chosen as per suitability of the plan for your needs
- Axis Max Life Waiver of Premium Plus RiderWaiver of all future premiums in case of the covered dismemberment so that you can live worry-freeFuture premiums waiver in case you suffer from critical illnesses as specified in the rider termsKnow moreContinued benefits of the base policy to give you peace of mind about maintaining various life expenses
FAQ's
Can I claim multiple personal accident insurance?
How do I claim the policy after an accident?
How can personal accident insurance help in case of accidental death?
What is the claim period for the personal accident insurance?
Can I buy personal accident insurance?
What is the purpose of a personal accident insurance policy?
What is not covered under personal accident insurance?
What accidents are covered under personal accident insurance?
ARN NO: PCP/PAI/220124
Sources:
www.irdai.gov.in/ADMINCMS/cms/Uploadedfiles/107.%20Ind%20Personal%20Accident_UniversalSompo.pdf
www.policyholder.gov.in/whatlifeinsurancetobuy.aspx
www.irdai.gov.in/ADMINCMS/cms/Uploadedfiles/RTI_FAQ/FAQs%20on%20Health%20Insurance%20Regulations20201106.pdf
www.irdai.gov.in/ADMINCMS/cms/Uploadedfiles/107.%20Ind%20Personal%20Accident_UniversalSompo.pdf
www.policyholder.gov.in/whatlifeinsurancetobuy.aspx
www.irdai.gov.in/ADMINCMS/cms/Uploadedfiles/RTI_FAQ/FAQs%20on%20Health%20Insurance%20Regulations20201106.pdf
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