This policy provides lump-sum compensation for bodily injuries caused solely by accidents (not illness or natural causes). It focuses on financial support for death or disability, helping replace lost income.

Key Covers (based on IRDAI’s Saral Suraksha Bima – Standard Product, mandatory for most insurers since 2021):

• Base Covers (mandatory in standard plans):
  • Accidental Death: 100% of Sum Insured (Capital Sum Insured – CSI).
  • Permanent Total Disablement (PTD): 100% of CSI (e.g., loss of both eyes, both limbs, or total inability to work).
  • Permanent Partial Disablement (PPD): Percentage of CSI (e.g., loss of one eye/limb: 50%; loss of hearing in both ears: 50%; specific finger/toe losses: 1–40% as per table).
• Optional Covers:
  • Temporary Total Disablement (TTD): Weekly benefit (e.g., 0.2% or 1% of CSI per week, max 104 weeks or ₹5,000/week) if completely unable to work.
  • Hospitalisation Expenses due to Accident: Medical costs (often up to 40% of claim or actuals).
  • Education Grant: For dependent children in case of death/PTD of proposer.

Additional Benefits (common in plans):

• Transportation of dead body/funeral expenses.
• Ambulance charges.
• Clothing damaged in accident.
• Loss of employment benefit.

Types:

• Individual PA: For one person.
• Family Floater PA: Covers family members.
• Group PA: For employers/organisations (often cheaper).

Who it’s for: Salaried individuals, business owners, high-risk job holders, or anyone wanting income replacement. Sum Insured typically ₹5 lakh to ₹1 crore+.

Premium Factors: Age, occupation, sum insured, covers chosen. Very affordable (often lower than health insurance).

Exclusions (common): Suicide/intentional self-injury, alcohol/drugs influence, war, criminal acts, hazardous sports (unless added), pregnancy-related, pre-existing conditions not applicable as it’s accident-only.

Tax Benefits: No direct 80C/80D like life/health, but it’s a necessary protection expense.

Note: Differs from health insurance (covers illness + hospital bills, no lump-sum death/disability) and term life (covers all-cause death).

This covers risks during domestic or international trips. It is mandatory for many visas (e.g., Schengen visa requires minimum €30,000 medical coverage).

Main Types:

• International Travel Insurance: For overseas trips (leisure, business, student, adventure).
• Domestic Travel Insurance: For trips within India (cheaper, covers similar but lower limits).
• Single Trip vs Annual Multi-Trip: One journey vs multiple in a year.

Key Covers:

• Medical Expenses & Hospitalisation: Emergency treatment abroad (core cover; $50,000 to $1,000,000+).
• Emergency Medical Evacuation & Repatriation: Airlift or bringing body back home.
• Personal Accident: Accidental death/dismemberment (often ₹10–50 lakh in India; higher abroad).
• Trip Cancellation/Interruption/Delay: Reimbursement for non-refundable costs due to covered reasons.
• Baggage Loss/Delay: Checked-in baggage (e.g., $200–500).
• Passport Loss: Replacement expenses.
• Personal Liability: If you cause damage/injury to others.
• Other: Dental emergencies, home burglary (during trip), adventure sports (add-on), COVID-related (in many plans).

Schengen Visa Specific: Must be valid across Schengen countries, include medical + repatriation, minimum €30,000. Many Indian insurers’ plans are approved (check latest embassy list; e.g., Bajaj Allianz, Tata AIG, HDFC ERGO, ICICI Lombard).

Duration: From a few days to 360 days (or annual).

Premium Factors: Trip duration, destination (Europe/USA costlier), age, sum insured, add-ons. Starts as low as ₹13–₹30 per day for basic international plans.

Exclusions: Pre-existing diseases (unless covered with extra premium), adventure sports (add-on), war, alcohol-related, illegal activities, pregnancy complications (sometimes).

Claim Process: 24×7 helpline, cashless at network hospitals abroad (where available), or reimbursement with documents (medical reports, bills, FIR for theft, etc.).

Popular Providers (2026): Bajaj Allianz (often cheapest), HDFC ERGO, ICICI Lombard, Tata AIG, Go Digit, ACKO. Many offer student plans, senior citizen extensions.

Key Comparison: Accidental Insurance vs Travel Insurance