INSURANCE USERS' COMMUNITY FORUM

Get answers from experts | Share your experiences.


Credit Card Claim pertaining to personal accident insurance

reply Share
18 Jan, 2021 by harshal jhhadav

I have a personal accident policy say 5 lakhs, now i have 2 credit cards which cover my personal accident policy   of 10 lakhs each. If a accident occurs and my claim is 17 lacs then would i be able to claim from all 3 ?

like like
0
Accident Insurance
Health Insurance
Basics of Insurance

1 Answer

Post
18 Jan, 2021
Team Beshak

Hello Harshal,


Personal Accident policies are fixed benefit policies - which means they pay lumpsum cash based on the type of disability and the sum assured against it. They do not pay you against actual expenses.

Most of these policies will cover only accidental death and permanent total disability (fully disabled to carry out daily routine or work) as per the terms and conditions of this policy. So for instance, one dies after an accident covered under the policy - the company will pay the entire sum assured without demanding proof of actual financial loss/expenses to the nominee of the person who was covered. In your case, the entire 27 Lakhs will be paid if the accident is covered under the policy.

You must read these two articles to get a better understanding of Accidental Disability Insurance:

  1. The Underrated Risk of Disability and Personal Accident Insurance (beshak.org)
  2. Comparison of Top Personal Accident Insurance Plans in India (beshak.org)


Do let us know if you have any questions.


Regards,

Team Beshak

Subscribe to Beshak Newsletter | Beshak.org

like like
0
icon-comment 0 Comments
icon-reply Reply
Discover the best tips for insurance every week!