National Insurance Individual Personal Accident Policy Introduction
National Insurance Company Limited is one of the leading public sector non-life insurance companies in India. It was founded in 1906, and nationalised in 1972. It offers more than 180 policies. NIC became a subsidiary of the General Insurance Corporation of India (GIC), a Government of India-owned entity.
National insurance individual personal accident policy covers the loss caused due to accidental death, permanent and temporary disability and other related expenses. This policy can be bought as an individual policy or a family cover. National Insurance individual personal accident policy also covers accidental hospitalization expenses on payment of extra premium.
National Insurance Personal Accident policy Eligibility criteria
Maximum policy renewal age
National insurance Personal Accident Features and Benefits
- Any Indian can take this policy covering himself and family members between the age of 5 to 70 years.
- It covers the loss caused due to accidental death or permanent total disablement on account of death.
- It also Covers accidental hospitalization expenses and Accidental Hospital daily allowance.
- It covers different types of accidents like road, rail accidents, accidents due to natural calamities and accidents arising out of terrorism/ terrorist acts.
- No health check up is required to get National Insurance personal accident policy.
- This policy operates world-wide and is a 24 hour cover.
- It provides additional coverages like restricted cover of Death only, to a comprehensive cover covering death, permanent disablement and temporary total disablement.
- Family package cover facility is available to individuals under personal accident policy.
- Proposer, spouse and dependent children can be covered under a single policy with a 10% discount in premium.
- Group personal accident policies are also available for specified groups with a discount on premium depending upon the size of the group.
- The selected Individual Personal accident policies can be bought online using credit, debit cards as well as net banking.
- In National Insurance Personal Accident policy, facility of cumulative bonus is given where the capital sum insured is increased by 5% every year on claim free renewals subject to a maximum of 50%.
- This cumulative bonus is not available for death only cover.
- It helps children to continue their education even their parents met with an unfortunate accident.
- It provides additional accidental medical expenses by paying extra premium.
National Insurance Personal Accident policy Coverages
The various coverages available in national insurance individual personal accident policy are
It provides compensation on the death of insured person due to any injury caused out of accident, violent, external and visible means.The compensation will be given within 12 calendar months from the date of death of insured person.
Permanent total disablement:
It provide compensation for bodily injury arising out of any accidental,violent, external and visible means resulting in permanent total disablement.
Permanent partial disablement:
It provides compensation for bodily injury caused by accidental, violent, external and visible means resulting in permanent partial disablement. The compensation will be payable within 12 months from the date of occurrence of injury.
Temporary total disablement:
It provides compensation for bodily injury caused by accidental, violent, external and visible means resulting in temporary total disablement. This compensation will be payable for certain period up to injured person recovered from the injury caused due to accident.
National Insurance Personal accident Policy Non Coverages
- National Insurance personal accident policy does not provide any compensation for the death of insured person due to self-injury, suicide or attempted suicide.
- It does not provide any compensation for the death of insured person if he dies due to taking intoxicated liquor and drugs.
- It does not provide compensation when the insured person dies during Racing on wheel, Hunting Big game shooting, Mountaineering, engaged in winter sports, skiing & Ice Hockey.
- It does not provide any compensation for the insured person if he violates law with any criminal intention.
- It does not provide compensation if the person dies due to mental illness.
- It does not provide compensation for pre-existing illness or disability.
National Insurance Personal Accidental Policy additional coverages
No Claim Bonus: 5% of No Claim Bonus(NCB) facility is available for every claim free renewal till it reaches 50% of its initial sum insured in National insurance personal accident policy.
Dead body transportation: It reimburses up to 2% of sum insured which is subjected to maximum of Rs.1000.
Education fund (for maximum of 2 children): It provides 10% of sum insured per child subject to maximum of Rs 5000 per child when parents met with an unfortunate accident.
Accidental medical expenses: It reimburses lower of 10% of sum insured or 40% of admissible expenses arising out of an accident.
National Insurance personal accident Policy Rate Compensation
|Nature of Injury||% of compensation|
|Death||100% of sum assured|
|Loss of two limbs,two eyes or one limb and one eye||100% of sum insured|
|loss of one limb or one eye||50% of sum insured|
|Permanent total disablement||100% of sum insured|
|Permanent partial disablement||Pays a certain percentage of sum insured as stated in the policy document|
|Temporary total disablement||Pays 1% of sum insured per week up to maximum of 104 weeks. Weekly benefit not to exceed Rs 5000.|
National Insurance personal accident policy buying procedure
The following steps has to be followed to buy National Insurance personal accident policy
- Contact National Insurance Company branch office which is nearer to your home either directly or through an authorised agent.
- Collect National Insurance personal accidental pre printed proposal form.
- Read the proposal form carefully and fill the form correctly.
- Submit the proposal form to the national insurance company branch office.
- Some risks may call for pre-acceptance survey. In such cases surveyor appointed by office will estimate the quantum of risk involved and other related matters.
- Premium estimates will be given to the proposer through computerised offices.
- Policy will be issued to the customer either directly or through registered post on request.
National Insurance Personal accident policy Claim Procedure
The following steps are involved in National insurance individual personal accident claim process
- Collect the personal accidental claim form from the national insurance company limited branch office.
- Fill up the Claim Form after reading it thoroughly.
- Submit claim form to the policy issuing office along with the required documents.
- The policy issuing office may appoint panel doctor if necessary.
- Claim is fully settled by the policy issuing office and full payment is made to the policyholder after final settlement of claim.
National Insurance Personal accident claim Forms
- Police Report.
- Doctor Prescriptions.
- Reports of pathological test.
- Cash memos from the chemist’s shop.
- Admission and discharge certificates.
- Receipts from Doctors,Surgeons.
National Insurance Personal Accident Premium and Maturity Calculator
By using National Insurance Individual Personal accident premium and maturity calculator you can find the minimum premium has to be paid to buy National Insurance Individual personal accident policy. By using this you can also compare your insurance plan with other available insurance plans and can select your preferred policy.
National Insurance Company Customer Care Details
Telephone number: 22831705 / 22831706.
Call center number: 0866 257 8586 / 1800 120 1430
3 middleton street,
Pin code: 700071.
FAQ on National Insurance personal accident policy
1.Can I buy National Insurance individual personal accident policy through online?
Ans: Yes,you can buy your policy through online by using credit card/Debit card.
2.Can I renew my policy through online?
Ans: Yes,you have the facility to renew your policy through national insurance company website www.nic.co.in
3.How the personal accident policy helps to me?
Ans: National Insurance personal accident policy helps you in critical situations like unfortunate death, permanent disability or temporary total disability caused due to an accident by providing you compensation until you have fully recovered from the injury.