New India Assurance personal accident policy introduction
New India Assurance(NIA) was founded by Sir Dorabji Tata in 1919. Later it is nationalised in 1980. New India Assurance is a 100% government-owned multinational general insurance Company. It is headquartered in Mumbai and it has branches in 22 countries. It is the only direct insurer in India rated A-(Excellent – Stable outlook) by AM Best. This Company has nearly 20,000 employees to serve its customers.
New India Assurance Personal Accidental policy offers compensation for bodily injury or death of insured person due to an accidental by external, visible and violent means. this policy operates as world-wide and it is a 24 hour cover facility. New India Assurance personal accident policy offers different coverage facilities like death only, family package cover. It also offers group personal accident policies by paying extra premium. It also covers medical expenses by paying 10% extra premium.
New India Assurance Personal Accidental Policy Eligibility Criteria
| Entry Age |
|
| Maximum policy renewal age |
70 years |
| Coverage type |
Individual/family |
New India Assurance Personal Accident Policy Features and Benefits
- New India Assurance Personal Accident policy is designed for providing compensation for the insured person incase bodily injury or death caused due to unfortunate accident.
- It offers ‘Death only cover’ to cover the death of insured person.
- It offers additional family package cover where spouse, and dependent children can be covered on a single policy with 10% discount on premium.
- This policy covers expenses incurred for carriage of dead body from accidental place to hospital.
- An education fund for maximum of 2 children is payable in case of death or permanent injury of insured person.
- It helps your children to continue their education even after their parents has been expired.
- Group personal accident policies are also available for specified groups with a discount on premium depending upon the size of the group.
- This policy operates world-wide and is a 24 hour cover.
- It covers different types of accidents like road, rail accidents, accidents due to natural calamities and accidents arising out of terrorism/ terrorist acts.
New India Assurance Personal Accident Policy Coverages
Accidental death:
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 partial disablement:
When a part of the body becomes permanently disabled due to an accident like loss of finger, a percentage of capital sum insured will be paid.
Temporary total disablement:
When an insured person becomes temporarily disabled due to an accident like fracture of leg, a weekly payment of 1% on the capital sum insured is paid until the insured person totally recovered.
Permanent total disablement:
It provide compensation for bodily injury arising out of any accidental, violent, external and visible means resulting in permanent total disablement.
New India Assurance Personal Accident Exclusions
- It 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 any compensation for death or injury arises due to illness or disease which is not covered by the policy.
- It does not provide compensation for pre-existing illness or disability.
- It does not provide any compensation for the insured person if he violates law with any criminal intention.
- It does not provide compensation for the death caused due to pregnancy.
New India Assurance Personal Accidental policy Additional coverages
- Dead body transportation: New India Assurance Personal accident policy provides additional expenses for carriage of dead body from the place of accident to the hospital.
- Education fund (for maximum of 2 children): It provides 10% of sum insured per child when parents met with an unfortunate accident.
- Accidental medical expenses: It reimburses lower of 10% of sum insured or 40% of the death compensation will be payable on paying extra premium.
- This policy can also be issued to Indian personnel working in foreign countries on civilian duty to cover War risk by paying an additional premium.
- It is also possible to issue group Personal accident policy to a group life policy covering death benefit for the same group of persons for the same policy period.
- It provides an additional discount for family package cover.
Rate Compensation in New India Personal Accident policy
| Nature of Injury | Percentage 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. |
New India Assurance Personal Accident policy buying procedure
You need to follow the below steps to buy New India Assurance Personal Accidental Policy
- Contact New India Assurance Company branch office which is nearer to your home either directly or through an authorised agent.
- Collect New India Assurance personal accident pre printed proposal form.
- Read the proposal form carefully and fill the form correctly.
- Select whether you need medical expenses coverage and family package cover or not.
- Submit the proposal form to the New India Assurance company branch office.
- 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.
New India Assurance Personal accident policy Claim Procedure
If an unfortunate accidental arises the following steps should be followed to register the claim
In case of death claim:
- Immediately notify to the near by New India Assurance policy issuing office.
- Collect the personal accidental claim form from the New India Assurance policy office.
- Fill the Claim Form after reading it thoroughly.
- Policy has to be submitted to the issuing office along with the required documents.
In case of injury claim:
- Immediately notify to the near by policy issuing office.
- Submit the police report to the office.
- Submit the claim form along with medical certificate certifying the disablement.
- If you opt for medical expenses coverage,submit prescriptions along with bills.
- Claim is fully settled by the policy issuing office and full payment is made to the policyholder after final settlement of claim.
New India Assurance Personal Accident Policy Claim forms
In case of death claim:
- Duly filled claim form.
- Death certificate.
- Post mortem report.
- Police report.
- Original Policy.
In case of injury claim:
- Duly filled claim form.
- Police report.
- Medical certificate.
- Doctor Prescription.
- Cash memos from the chemist’s shop.
new india assurance personal accident claim form
New India Assurance personal accident policy Premium And Maturity Calculator
By using New India Assurance personal accident policy Premium And Maturity Calculator you can find the minimum premium has to be paid to buy New India Assurance Personal Accidental policy. You can also compare your policy with other available policy and can select the policy which met your requirements.
New India Assurance Customer Care details
Customer care number: 1800-209-1415.
Email.id: http://newindia.co.in
Postal Address:
The New India Assurance co.Ltd,
87,M.G.Road,Fort,
Mumbai,400 001.
FAQ on New India Assurance Personal Accident Insurance
1.Who can take the New India Assurance Personal Accident Policy?
Ans: Any adult person living in India covering himself and family members between the ages of 5 and 70 years can take the New india assurance personal accident policy.
2.How to select sum insured?
Ans: The capital sum assured is decided depending on the your income of 72 months. That means income from the property, shares will not be taken into account. For non working spouse sum insured is restricted to 50% of the sum insured of earning spouse and for dependent children it is restricted to 25% of the sum insured of earning parents.
New India Assurance Personal accident Documents and Forms
New india assurance personal accident proposal form
New India Assurance personal accident application form