New India Personal Accident Insurance Policy
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New India Assurance Personal Accident Policy

This policy offers compensation in case of death or bodily injury to t ...Read More

Up to 2 Crore
Sum insured
1
No. of plans
1800+
Pan India presence
90.73%
Claim settlement ratio
🛡️ IRDAI Approved
⭐ 4.4/5 · 2,689 reviews
🏥 3,000+ hospitals
📊 1.91 solvency ratio
✅ 90.73% claim settlement

About New India Assurance Personal Accident Policy

A quick read on what this New India Health Insurance plan covers and why it might be a fit for you.

New India Assurance Personal Accident Policy is a simple health insurance plan that provides compensation in case the insured is deceased or disabled resulting from an accident. The policy operates 24/7 worldwide, offering various coverage options including death, permanent disability, and temporary total liabilities. It also offers a family package cover, group cover, war risk coverage, and optional add-on covers. In this article, we will explore key features and exclusions of the policy.

Plan at a glance

Eligibility, sum insured options and policy mechanics — pulled straight from the policy wording.

Entry age
5 to 70 Years
Plan type
Accident Health Insurance
Sum insured options
₹10 L
Waiting period
N/A
Renewability
N/A
Policy term
N/A

*Initial Waiting Period is the time period between the issuance of the policy and the time it starts actively. During this period, a policyholder has to wait to avail of the benefits offered under a health insurance plan.

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Worldwide Coverage
  • Disability Cover
  • Death Benefit

Cons

  • Self-injury not covered
  • Maternity coverage not available
  • Adventure sports not covered

Eligibility Criteria for New India Personal Accident Policy

Eligibility Criteria Details
Age of Insured Min: 5 Years
Max: 70 Years
Type of Coverage Death
Permanent Total Disability
Permanent Partial Disability
Temporary Total Disablement
Coverage Extension Worldwide Coverage
Family Package Cover Includes proposer, spouse, and dependent children.
Discounts 10% Discount on Premium
Discount On premium based on group size
Group Policies Available for specific groups
Add-on Covers Medical Expenses Cover
Claim Eligibility Accident that results in death or any injury.
Sum Insured Calculation Based on income from gainful Employment (max 72 months)
Non-Working Spouse: 50% of earning spouses' sum insured (Max is INR 1,00,000)
Dependent Child: 25% of earning parents
Cumulative Bous 5% increase in sum insured for a claim-free year (max up to 50%)

How to Select the Sum Insured

Here are the scenarios for selecting the right sum insured for this plan:

  • The sum insured is determined based on the policyholder's income, the employment must be at least for 72 months. Other income sources are not considered.
  • For non-working spouses, the sum insured is limited to 50% of the earnings of the spouse, with a maximum of INR 1,00,000, For dependent children this percentage is 25%, which is a maximum of INR 50,000.
  • The cumulative bonus is 5% which is added to the capital sum for every claim-free year.

After keeping all these scenarios in mind the customer must select their coverage.

Exclusion of Personal Accident Policy

The policy doesn't cover the following conditions:

  • Death due to Illness or Disease

    The policy does not offer any death cover that results from any illness or disease. The policy only covers death due to accidents only.

  • Not More Than 1 Claim a Year

    The policyholder can only claim for one accident in a year.

New India Health Insurance Network Hospital List

New India Health Insurance Network Hospitals are present in 31 states nationwide. With a wide network of hospitals, New India Health Insurance ensures that you are medically secured, irrespective of the city you reside in.

Delhi Mumbai Bengaluru Chennai Kolkata Hyderabad Pune Ahmedabad Jaipur Lucknow

Know More About Network Hospitals →

Inclusions & exclusions

What the plan pays for, and what it doesn't.

Exclusions

  • Permanent diseases or health conditions that are not included under the New India Assurance Personal Accident Policy are:
  • Adventure Sports
  • Intentional self-injury
  • AIDS
  • Miscarriage, and Abortion
  • Congenital disease
  • Infertility and in vitro fertilization

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

  • Min entry age: 5 Years
  • Max entry age: 70 Years
  • Initial Waiting Period: N/A
  • Sum Insured: N/A

Other features & benefits

Key Features and Benefits Of The New India Personal Accident Policy

The policy offers the following benefits:

  • Death Benefit

    The plan pays a lump sum amount to the beneficiary after the death of the policyholder. The death compensation is 100% of the Sum Insured.

  • Disability Cover

    The plan covers Total, Permanent, and Partial Disability. The compensation provided by the plan is as follows:
    • Permanent Total Disability- 100% of the SI
    • Permanent Partial Disability -50% of the SI

  • Coverage Types

    The policy offers several coverage options, including death permanent total disablement, permanent partial disablement, and temporary total disablement.

  • Worldwide Coverage

    The policy operates globally providing protection wherever you are.

  • Family Package

    Individuals include their spouses and dependent children in a single policy with a 10% premium discount.

  • Group Policies

    Discounted group policies are available for specific groups based on group size.

  • Add-On Cover

    • Optional add-on covers are offered, including coverage for medical expenses related to accident and war risk coverage.
    • Individual and group cover can extend their coverage subject to the limit of 10% of SI or 40% of the death or liability compensation claims that are payable.

  • Carriage of Dead Body

    The policy offers compensation for the expenses of transporting the insured body to their residence. The policy offers 2% of the SI or Rs 2500 whichever is less.

  • Education Fund

    If the insured is decreased or partially or temporarily disabled this policy will look after the education of the dependent school-going children.

  • War Risk

    Most of the insurance policies do not offer any coverage for injury that occurred during war or invasion, but the New India Assurance Plan offers coverage for war risk.

Conclusion

The Personal Accident Policy provides valuable coverage for individual and their families in the event of an accident resulting in death or injury. The plan offers many benefits such as education of the dependent children, and funeral expenses. Personal protection is also a group and family policy that offers rebates based on the members. It is important to read all terms and conditions before buying the policy.

New India Assurance Personal Accident Policy: FAQs

The 3 most-asked questions about New India Assurance Personal Accident Policy, answered.

Yes, the policy offers ’Family Package’ covers allowing the policyholder to include the family members. New India Assurance Policy is a family as well as a group plan that offers comprehensive coverage for the entire family.
Yes, This policy provides worldwide coverage.
This policy focuses on accidents and does not cover pre-existing health conditions.

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Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

Written by Naval Goel — Founder & CEO, PolicyX.com Reviewed by Manoj Kumar — IRDAI-certified Health Insurance Specialist
Last updated: 15 Mar 2024 · Originally published: 29 Oct 2024

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