Top 10 Personal Accident Insurance Policies in India

Top 10 Personal Accident Insurance Plans in India

Life is full of uncertainties, and accidents can happen when we least expect them. The financial impact of accidental injuries, medical expenses, and income loss can be overwhelming for individuals and organisations.

This is where a personal accident insurance policy becomes essential—not just for individuals but also for employers looking to safeguard their workforce. These policies help cover medical expenses, rehabilitation costs, and income loss, making them particularly valuable for individuals in high-risk professions or those who frequently commute for work.

For businesses, providing personal accident insurance as an employee benefit enhances workplace security, shows a commitment to employee well-being, and strengthens talent attraction and retention.

To help you make an informed decision, we’ve compiled a list of the 10 best personal accident insurance plans in India, covering their key benefits and features.

Read More: Top 10 Health Insurance Companies in India

What Is Personal Accident Insurance?

Personal accident insurance is a policy that grants financial coverage for accidental injuries, disabilities, and death. It helps the policyholder and their family cope with the income loss and/or financial burden caused by the accident.

It typically covers:

• Accidental Death: Offers a lump-sum payout in case of the policyholder’s death due to an accident.

• Permanent Total Disability: Provides compensation if the policyholder has permanent total disability, such as loss of both limbs, loss of vision, paralysis, etc.

• Permanent Partial Disability: Covers permanent but partial disabilities, such as partial loss of eyesight, loss of a single limb, etc.

• Temporary Total Disability: Grants a weekly benefit to compensate for the loss of income due to accident-related disability until the insured cannot work.

While both health insurance and personal accident insurance provide financial protection, they serve different purposes. Health insurance primarily covers medical expenses arising from illnesses, surgeries, and hospitalisation due to diseases, whereas personal accident insurance is specifically designed to cover accidental injuries, disabilities, and death.

Also, read: What is Group Personal Accident Insurance?

Top 10 Personal Accident Insurance Plans in India

Here’s a roundup of the ten best personal accident insurance policies in India:

1. Aditya Birla Capital Active Secure Personal Accident

Aditya Birla Capital Activ Secure Personal Accident policy offers coverage in case of accidental death, emergency road ambulance, in-patient hospitalisation, and total and partial disability. It also covers education benefits, funeral expenses, repatriation of remains, weekly payouts for temporary total disablement, and compassionate visits.

Key Features and Benefits:

• Secure your child’s education and future in case of your accidental disability or death
• Enjoy financial protection from accidental medical, ambulance, and hospitalisation expenses
• Choose add-ons like protection from income loss and EMI, and loan protection
• Get a 5% bonus for every claim-free year

Premium Range:

Starts at ₹212 per annum

2. Bajaj Allianz Premium Personal Guard Policy

The Premium Personal Guard Policy offered by Bajaj Allianz offers coverage against bodily injury or death caused by accidents. The personal accident insurance policy is available to risk class I individuals in administrative and managing functions, such as lawyers, doctors, accountants, teachers, etc.

Key Features and Benefits

• High sum assured ranging from ₹10 to ₹25 lakhs
• Get a hospital confinement allowance of ₹1,000 to ₹2,500 per day for the first 30 days of hospitalisation
• Children’s education bonus of ₹5,000 per child towards the cost of education of up to two dependent children
• Get a cumulative bonus of 10% of the sum insured

Premium Range:

Starts at ₹1,300 per annum

Also read: Top 10 Life Insurance Companies in India

3. Bharti AXA Smart Individual Personal Accident Health Plan

Bharti AXA’s Smart Individual Personal Accident Health Plan grants financial protection against accidental death or permanent disability. Apart from covering accidental death or permanent disability resulting from major accidents, this health insurance policy also covers minor accident-related injuries such as burns or slipping down the stairs.

Key Features and Benefits:

• Covers double indemnity for death or permanent total disablement when traveling by public transport
• Get up to 125% of the sum insured in case of permanent total disability
• Grants coverage to your entire family
• Pay premium on a monthly, quarterly, semi-annually, or annual basis

Premium Range:

Starts at ₹899

4. Niva Bupa Personal Accident

The Personal Accident Insurance Policy offered by Niva Bupa covers accidental death, permanent total disability, and permanent partial disability. You also get accidental hospitalisation and temporary total disability as an optional add-on. The policy also offers Children’s Education Benefits, Funeral Expenses, and Global Coverage.

Key Features and Benefits:

• Flexible sum insured from ₹5 lakhs to up to ₹5 crores
• Discounts of 12.5% and 15% for longer terms of 2 and 3 years, respectively
• Children’s Education Benefit is 5% of the sum insured or ₹50,000 to ₹5 lakh per child
• Enjoy lifetime renewability

Premium Range:

Starts at ₹380 per month

Suggested Read: 10 Best Health Insurance Plans for Family

5. ICICI Lombard Personal Protect Accident Insurance

ICICI Lombard’s Personal Protect Accident Insurance offers coverage in case of death or disability due to an accident. Optional coverage is also available for accidental hospitalisation expenses and accidental hospital daily allowance. A notable feature of this policy is that it offers coverage against terrorism and acts of terrorism.

Key Features and Benefits:

• Select a tenure between 1, 3, and 5 years
• Flexible sum insured from ₹3 lakhs to ₹25 lakhs
• Accidental hospitalisation daily allowance of ₹1,000 to ₹2,000 for a maximum of 30 days
• Entry age is 5 years, provided that the parent or legal guardian is at least 18 years old

Premium Range:

Starts at ₹478 per month

6. Care Secure Personal Accident Insurance

The Personal Accident Plan is a sub-offering of Health Insurance policies offered by Care Health Insurance. It covers accidental death, permanent total/partial disablement, temporary total disablement, and accidental hospitalisation.

The policy stands out by offering coverage for permanent total/partial disablement improvement, fractures, diagnostic tests, disappearance, and burns in some plans.

Key Features and Benefits:

• Flexible sum insured ranging from ₹10 lakhs to ₹3 crores
• Get covered for fractures, burns, disappearance, major diagnosis tests, and disablement recovery
• Get a 10% discount for longer insurance terms of 3 years
• No hassle of undergoing pre-policy medical check-ups

Premium Range:

Starts at ₹456 per month

Quick read: Top 5 Cashless Health Insurance Plans in India

7. HDFC ERGO General Insurance Personal Accident Plan

HDFC ERGO offers individual and group personal accident insurance policies. These policies cover accidental death, permanent total disability, fractures, burns, ambulance costs, and hospitalisation expenses.

This personal accident insurance policy offers comprehensive benefits, from elderly and pet care to adventure sports, the cost of prosthetics, and children’s marriage expenses!

Key Features and Benefits:

• Global personal accident insurance coverage with a sum insured from ₹5 lakh to ₹5 crores
• Cover persons in the age group of 91 days (in case parents are covered) to 69 years
• Get coverage even for Emergency Air Ambulance Charges in case of life-threatening health conditions due to an accident
• Enjoy coverage for in-patient care for AYUSH treatment sustained due to an accident

Premium Range:

Starts at ₹125 per month

8. Future Generali Accident Suraksha

Future Generali’s Accident Suraksha personal accident insurance policy covers accidental death, permanent total/partial disablement, and temporary total disablement. It has in-built coverage for repatriation and funeral benefits. On payment of additional premiums, you can even get coverage for life support, loan protection, fractures, adaptation, chauffeur, and more.

Key Features and Benefits:

• Enjoy coverage for Class I (low risk), Class II (medium risk), and Class III (high risk) professionals
• Coverage from age 3 years (as dependents) to 80 years
• A simple sum insured of 144x times the monthly income of the policyholder
• Built-in coverage against terrorism and acts of terrorism, burial/cremation, transportation of remains, and funerary expenses

Premium Range:

Starts at ₹610 per month

Suggested read: Top 5 Group Health Insurance Companies

9. Star Health Accident Care Individual Insurance

Star Health’s Accident Care Individual Insurance plan offers coverage to all three categories of at-risk individuals. Group I includes persons engaged in administrative functions, Group II involves persons engaged in manual work, and Group III covers persons working in high-risk environments.

Key Features and Benefits:

• Straightforward sum insured on the basis of monthly income from gainful employment
• Coverage from 5 months (as dependents) to 70 years with no exit age
• Get a children’s educational grant of ₹10,000 per child in case of death and disability
• Benefit from a cumulative bonus of 5% accrued per completed year

Premium Range:

Starts at ₹254 per month

10. Cholamandalam Accident Protection Plan

The Accident Protection Plan by Cholamandalam MS offers exhaustive coverage in case of accidental death, disability, and hospitalisation. You can also get compensated for modifying your home or vehicle due to a permanent total disability.

Key Features and Benefits:

• Choose between individual or family personal accident insurance plans
• Get coverage for broken bones, ambulance hiring, family transportation, and more
• Coverage extends to accidents in any part of the world
• Children get compensation for tuition fees if they cannot attend school/college due to an accident

Premium Range:

Starts at ₹908 per annum, depending on your annual income eligibility and sum insured

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Types of Personal Accident Insurance

A personal accident insurance plans can be categorised into the following two main types:

Group Personal Accident Insurance

Companies often provide group personal accident insurance to their employees, especially when they work in high-risk occupations.

In some cases, employee unions and groups come together to purchase a group personal accident insurance policy. It covers accidental death, injury, and invalidation and offers protection to the employees and their families. Since it has multiple policyholders involved, the premium is often lower in the case of group personal accident insurance.

Individual Personal Accident Insurance

As the name indicates, an individual personal accident insurance policy covers a single person. It offers them coverage in case of their accidental death, injury, or disability—and in some cases, even the medical and hospitalisation costs due to an accident.

Individuals get greater flexibility in selecting their personal accident insurance policies depending on their requirements and budgets. It is ideal for self-employed individuals and daily commuters.

Relevant Read: Types of Health Insurance

Difference Between Personal Accident Insurance Policy, Health Insurance Policy, and Life Insurance Policy

Here’s a quick overview of the differences between personal accident insurance, health insurance, and life insurance policies: 

Benefits of Personal Accident Insurance Policy

Here are the top benefits of having a personal accident insurance policy:

• Financial Security: Provides financial security by means of a lump-sum payout to the policyholder’s family in case of their accidental death

• Disability Compensation: Reduces financial stress by granting compensation in case of permanent, partial, or total disability

• Income Protection: Offers temporary relief by offering weekly payouts to safeguard income in case of accidental injury or temporary disability

• Medical Expense Coverage: Helps with medical expenses, hospitalisation costs, and ambulance charges for treatments and care due to accidents

• Support for Dependents: Supports dependents by offering financial assistance to family members and other benefits, like children’s education benefits

• Enhanced Protection: Covers additional benefits through add-ons like hospitalisation allowance, disability improvement, adaptation, etc, to strengthen coverage

Relevant Read: Benefits Of Personal Accident Insurance 

Factors to Consider While Choosing a Personal Accident Insurance Plan

Here are the top benefits of having a personal accident insurance policy:

• Coverage Amount: Ensure that the sum insured is sufficient to cover your family’s expenses, medical costs, loss of income, and any other financial requirements.

• Premium Costs: The premium for the personal accident insurance policy should be affordable while also granting comprehensive coverage.

• Benefits and Add-Ons: The personal accident insurance policy should ideally cover death and disability in case of an accident. However, you can also choose a policy provider that offers additional benefits and add-ons like hospitalisation costs, allowances, children’s education benefits, etc.

• Inclusions and Exclusions: Carefully go through what the personal accident insurance policy covers and does not cover. For instance, we’ve seen how some cover adventure sports while others don’t.

• Claim Settlement Ratio: An insurance provider with a high claims settlement ratio offers better coverage when the need arises. Also, analyse how easy it is to raise a claim.

• Policy Tenure: Check if the policy offers lifelong renewability. Some may even slash premiums for personal accident insurance policies having longer tenures.

• Insurance Company Reputation: Consider the general reputation and customer reviews of the insurance company.

Also, read: 10 Best Insurtech Companies In India

Group Personal Accident Insurance for Employees

While many insurers offer personal accident insurance plans, Onsurity stands out for its expertise in group insurance policies.

We provide a range of group insurance options, including group personal accident insurance, offering financial protection against accidental injuries, disability, and death. Their policies cover hospitalization expenses, compensate for income loss due to accidents, and ensure financial security for insured individuals and their families.

Here’s why you should consider it:

• Well-Rounded Protection: Covers everything from accidental death to temporary or permanent total disability. Employees stay financially secure, and companies dodge liability. A win-win.

• Medical and Rehab Aid: Covers ambulance costs, medical bills, and rehabilitation expenses. This protects both employees and employers.

• Education Grants For Dependents: Secures the future of you and your family, especially children, as they continue their education, even if an employee suffers severe disability or death.

A Group Personal Accident Insurance isn’t just a policy—it’s a sign of trust. It indicates that employers value their team’s well-being and will stand by them and their families when it matters most.

With seamless onboarding, paperless claims, and competitive pricing, Onsurity makes group personal accident insurance simple, swift, and stress-free for businesses.

To Wrap Up

A personal accident insurance policy is a safety net for you and your family. It offers protection from the financial strains that come as a result of an accident, be it death, injury, or disability. It is a must-have for those working in high-risk environments and commuting daily to work via personal vehicle. Investing in personal accident insurance is crucial in securing your financial well-being and ensuring peace of mind for you and your family.

With Onsurity, businesses can compare various policies, evaluate their benefits, and select the most suitable group plan for their employees. Connect with our team for more info!

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