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New India Assurance Personal Accident Insurance Policy

New India Assurance Personal Accident Insurance Policy - New India Assurance Company is 100% owned government organization. It’s a multinational general insurance company with its operations in around 26 countries having it’s headquarter at Mumbai in India. It’s the only direct insurer in India with A rating by AM Best. It is also awarded with AAA/STABLE rating by CRISIL. New India Assurance is number one in selling non life Insurance. They provide wide variety of products like- mediclaim Insurance, travel Insurance, accidental Insurance etc. The company deals in personal Insurance, Commercial insurance, Industrial insurance, social Insurance and liability insurance.

Why Personal Accident Insurance Cover?

Life Insurance is needed to cover the risk of death, medical insurance needed to cover any ailment, same way personal accident insurance are there to provide you the cover against any disability or death as a result of an accident. These are very cost effective policies which provide you cover in case your earning capability is affected negatively due to an accident. Every individual who have started earning should opt for personal accident Insurance cover. Especially those who have taken any kind of loan should definitely go for these policies because it will provide you the monetary support to repay the loan in case of any casualty happen due to accident which in turns affected your earning capacity. Under this policy the insurer provide the compensation in case of death or disability happen due to an accident.

Personal Accident insurance Plans offered by New India Assurance Company limited:

The New India Assurance Company limited offers personal accident insurance cover with varied features. Different plans offered by the company are:

  • Personal Accidental Policy
  • Janata Personal Accident Insurance
  • Rasta Apatti Kavach

Personal Accidental Policy:

  Minimum Maximum
Age at Entry
5 years
70 years
Policy Term
1 year
Sum Insured
72 months income from productive employment (earning individual)
50% sum insured of earning spouse (non earning spouse)
25% of sum assured of earning parents (dependent children)
Rs 1 lakh (non earning spouse), 
Rs 50000 (dependent children)
Max Policy Renewal Age 70 years
Type of Coverage Individual / Family

Salient Features - New India Assurance Personal Accident Insurance Policy

  • As per the policy, company will provide the compensation in the case of death or physical injury to life assured, solely and directly in consequence of an accident by violent, external and visible mean.
  • “Death only cover” is provided to cover the death of the insured person.
  • “Comprehensive Coverage” is also provided which covers death, permanent disability or temporary total disability of the insured person as a result of an accident.
  • The policy is a 24 hours cover and can be operate worldwide.
  • You can cover your spouse and children under a single policy as per their special family package and can also get 10% discount on the total premium.
  • This policy also covers the expenses occurred for the carriage of dead body from the place of accident to hospital.
  • In case of the death or permanent disability of the insured person, an education fund for maximum of two children is payable. This fund helps the children to continue their study without any financial trouble in case of any casualty happened to their parents.
  • For the specified groups, “Group Accident policy” is also available with lucrative discount on premium depending upon the size of group.
  • Different types of accidents are covered under this policy like- road accident, train accident, accident as a result of any natural calamity, also accidents be caused by any terrorism or terrorist act.
  • No Claim Bonus will be given in which the capital sum assured will be increase by 5% on every no claim years limited to maximum 50% of sum assured under table A, B and C

Coverage - New India Assurance Personal Accident Insurance Policy

Any death or disability out of disease or illness is not cover under the policy. Only death or disability as a result of external, violent and visible accident is covered under this accidental insurance policy.

Cashless cover will be provided at all the empanelled hospitals for rest of the hospitals reimbursement facility is available.

This policy also covers the expenses incurred for the carriage of dead body from the place of accident to hospital up to 2 % of sum insured subject to maximum of Rs2500/-.

Ad on covers-

Accidental Medical Expenses-Also the medical expenses up to of 10 % of sum assured or up to 40% of the death/ disability compensation will be paid. Both Individual as well as individual policies can be extended to cover these medical expenses incurred during treatment of an accident.

Education Coverage for children- In the case of death or permanent disability of parents education fund will be payable with the limit of maximum two children, for their further studies.

Any Indian Civilian working in foreign countries can opt of war risk cover which can be included in current plan by paying some extra premium.

Cover provided under the policy:

Types of Cover
Table A
Table B
Table C
Table D
Accidental Death
100 % of sum assured
100 % of sum assured
100 % of sum assured
100 % of sum assured
Loss of two limbs or one limb
and one eye or both eyes
up to 100% of sum assured
up to 100% of sum assured
up to 100% of sum assured
Loss of one eye or one limb
up to 50% of sum assured
up to 50% of sum assured
up to 50% of sum assured
Permanent total disablement other than as mentioned above for example- paralysis
100% of sum Assured
100% of sum Assured
100% of sum Assured
Permanent Partial Disability
Pre-specified portion of sum assured depends upon type of disability and its fraction.
Pre-specified portion of sum assured depends upon type of disability and its fraction.
Temporary Total Disability
1% of sum insured is payable on weekly basis for max of 100 weeks

Exclusions:

  • It does not provide any claim amount in case of the death of insured person due to self injury, or suicide or attempt to suicide.
  • It does not provide any claim amount in case of the death of insured person due to taking intoxicated liquor or drugs.
  • It does not provide any claim amount in case of the death or injury to insured person due to the illness/ disease not covered in policy.
  • If the insured person has violated any law with criminal intention then his claim will be rejected.
  • It does not provide any claim amount if the death of insured person caused due to pregnancy.

Several types of personal accident policy issued by New India Assurance company are:

  • Individual personal accident policy
  • Group personal Accident policy
  • Passenger flight coupon:  to provide cover against any personal accident while travelling in a scheduled flight as a passenger
  • Gramin personal accidental policy if the person is residing in rural area. Cover wil be provided under table C for a capital sum insured of Rs 10000/-
  • Janta Personal Accident policy: Under this policy cover as mentioned under Table C will be provided up to maximum of Rs 100000/-. Policy for longer term up to 5 years is also available.
  • Student Safety Insurance: Available for school or college going students. It provide cover as mentioned under table B up to the limit of rs 10000/-
  • Raj Rajeshwari Mahila Kalyan Yojna: It’s available for the women in age group of 10 to 75 years. Cover as mentioned under Table C will be provided up to the limit of Rs 25000/-. In case of unmarried women, if she dies claim amount will be paid to nominee or legal hier. In case of married women claim amount will be payable to wife if husband dies. No claim will be payable in case of death of wife.
  • Bhagyashree Child welfare Policy: It’s available for the girl child in the age group of 0 to 18 years and whose parent’s age does not exceed 60 years. In this policy if both or either of the parents died due to an accident amount of Rs. 25000/- will be deposited in any financial institution with the girls’ name. This money will be disbursed for the benefit of girl child to the living parent or nominate guardian. Group policies are also available under this scheme.

How to Claim:

Nominee/Assignee need to contact their nearest branch to intimate them about the incident. Fill the claim form provide the necessary proof and documents and all your claim amount or expenses will be paid as applicable.

Documentation for death claim:

    • Claim form
    • Death Certificate
    • Post mortem report
    • Police report
    • Original policy documents

Documentation for injury claim:

    • Police Report (if any)
    • Claim form
    • Medical certificate certify the disability
    • Prescription along with bills (If medical expenses extension has been taken)

Janata Personal Accident Insurance - New India Assurance Personal Accident Insurance Policy

  Minimum Maximum
Age at Entry 10 years 70 years
Policy Term 1 year 5 years
Sum Insured Rs 25000/- p.a Rs 100000/- p.a
Premium Rate Rs 15/- for SA of Rs 25000/- and charged in multiples of Rs 25000/-
Max Policy Renewal Age 70 years
Type of Coverage Individual / Group
  • As per the policy, company will provide the compensation in the case of death or physical injury to life assured, solely and directly in consequence of an accident by violent, external and visible mean.
  • Minimum Sum Insured of Rs 25000/- per annum and Maximum Sum Insured of Rs 100000/- per annum will be provided.
  • Rate of premium charged is very cost efficient. Rs 15/- will be charged on the sum assured of Rs 25000/- and in the same multiples.
  • Coverage is provided for death, permanent disability or temporary total disability of the insured person as a result of an accident.
  • Anybody in age group of 10 to 70 years can take the policy irrespective of their sex and occupation.

Coverage - New India Assurance Personal Accident Insurance Policy

  • Any death or disability out of disease or illness is not cover under the policy. Only death or permanent disability or loss of limbs or eye sights as a result of external, violent and visible accident is covered under this accidental insurance policy.
  • Cashless cover will be provided at all the empanelled hospitals for rest of the hospitals reimbursement facility is available.

Exclusions - New India Assurance Personal Accident Insurance Policy

  • If the insured person is drug addict or self injured or suicide clause, no claim will be entertained.
  • If the insured person participated in any war, nuclear explosion etc no claim will be entertained.
  • It does not provide any claim amount in case of the death of insured person due to taking intoxicated liquor or drugs.

Rasta Apatti Kavach - New India Assurance Personal Accident Insurance Policy

  • This Policy provides cover against any injury occurred by motor accident on road and which required medical emergency and hospitalization.
  • This policy also provides monetary compensation in case of death in road accident or total permanent disability.
  • This policy is issued annually.
  • Policy also available on group basis.
  • Cover will be provided under two section:
    • Section 1 – Personal accident for the reason of compensation payment.
    • Section 2 - Medical expenses incurred for the treatment of physical injury which arises out of road accident.

Premium and Sum Assured - New India Assurance Personal Accident Insurance Policy

Sum Assured

Premium

Rs 25000/-

Base rate

Rs 50000/-

Base rate

Rs 75000/-

Base rate

Rs 100000/-

Base rate

How to apply - New India Assurance Personal Accident Insurance Policy

The person should have VALID Driving License to apply for this policy.

You can download the pre printed application form, from company’s website and submit it to their nearest branch along with other required documents. Also you can directly visit their branch to complete the formalities. 

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