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A personal accident policy is a type of insurance policy that will pay the policyholder in case of accidental death or disablement. The policyholder is covered for accidents that occur during a certain time period and in a certain area. This coverage is parametric and is not dependent on the value of any underlying property or savings. The benefits payable under the insurance policy are an accident death benefit, accident disablement benefit, accidental medical expenses, travel emergency medical evacuation, repatriation of mortal remains, accidental dismemberment, and accidental medical expenses.

A person can insure a maximum of two members under a family plan. This is very good news for those who are thinking of buying insurance. They can save more money by buying insurance together.

In India, you can include your parents in your personal accident insurance, just for their travel with your car. So, suppose you or your parents are driving a car, and are covered under an insurance policy. In that case, you can easily get the insurance company to include your parents as a third party in the policy. This will cost you a little extra, but it is well worth it, especially if you are young and at a higher risk of being involved in a road accident.

Insurance policies usually have rules that restrict coverage as the family structure changes. In general, a dependent child is a child under the age of 18, or a full time student up to the age of 23. Any child over this age is no longer covered under the family policy and must have his or her own policy. The dependent child's age can be known by checking the written terms of the insurance policy. Suppose the child has a serious illness or accident. In that case, many insurance companies will usually allow coverage to continue beyond the age of 23. The insurance company will also not limit the number of dependent children that are covered under the family policy. Children adopted after the policy was originally issued will not qualify as dependent children, but will qualify for coverage under the family plan if the adoption is finalized before the age of 18.

The age limits for taking personal accident policy differ from one policy to the other. In general the policy starts at the age of 18 and up to the age of 60 or 65. Personal accident insurance policies are considered the back-up insurance policy. They cover you in the case of death, disability, and hospitalization. If you take any medical insurance, you need to go for personal accident insurance. So, the insurance companies will generally ask you to take the personal accident insurance policy with them.

Personal Accident Insurance (PAI) is issued by the insurance company and is mandatory for all employees, i.e., both regular and contractual. This insurance ensures that your family will get the insurance amount or any lump sum specified in the policy. Suppose you have become disabled after the accident (due to an injury). In that case, the insurance company pays money to you and your family to cover the expenses of your treatment and losses due to disability. If you are making a claim against the insurance company, then you need to fill an intent to claim form. Then, you need to file the police complaint within 3 days of the incident.

Personal accident insurance covers a lot of injuries that are commonly encountered in the daily lives of people. These injuries include accidental damage to eyes or teeth, loss of limbs, paralysis, etc. that's why it is also known as special insurance. It also covers the damage to your vehicle in case the other party was not at fault. Most personal accident insurances cover medical expenses, loss of income, and funeral expenses in case of death. This coverage is not generally given in regular car insurance policies.