Features of Personal Accident
- Offer & Acceptance
It is an essential of any agreement. Also the individual will be guaranteed under individual mishap protection approach after the offer is acknowledged by the insurance agency.
- Payment & Premium
A holder must guarantee that the premium is paid well ahead of time so the danger can be secured. In the event that the installment is made through check and it is shamed then the scope of danger won’t exist.
3.Utmost Good Faith
The individual must unveil all the significant data to the protection than organization while protecting himself on the grounds that none other him thinks about his wellbeing and other significant particulars. Any change in calling or occupation amid the strategy ought to likewise be educated to the insurance agency.
4.Period of Insurance
The time of protection is to be characterized in the strategy which fluctuates structure one year to five a long time. A few times this strategy is issued for particular rail/ street/ocean venture.
To get the remuneration under individual mischance protection the lawful beneficiaries ought to educate to the protection organization about the demise of the safeguarded and incase of inability the individual himself can advise the protection organization.
Procedure for insuring under personal Accident Insurance:
- a) Submission of proposal form
- b) Assessment of the proposal form and premium rate to bequoted
- c) Payment of the premium
- d) Issue of policy document
- a) Intimation: Immediately the intimation to be sent to the insurance company in writing mentioning the nature of loss and the policy number.
- b) Claim form: The claim form is designed to elicit information, among other things, on the following :
Personal details such as age, occupation, etc.
Details of accident, nature of injuries, etc.
Name and address of the attending doctor.
Medical certificate of the attending doctor
Details of other insurances to apply contribution, if applicable and to check whether they had been disclosed in the proposal form.
- c) Documents: The following documents are sent along with the claim form
Medical Certificate : to obtain medical opinion on the cause or extent of incapacity or progress towards
Medical examiner’s Report – To corroborate medical certificate in doubtful cases, or if other causes are in operation.
Receipt / Discharge form :- to acknowledge the money and to confirm the finality of the settlement.
Death Certificate – To give the date and cause of death. Post mortem reports where a post-mortem has
Probate or letters of administration – the legal document to prove the title of an executor or an
administrator (i.e. if no assignment is made)