Personal Accident Cover in Bharat Griha Raksha Policy
Personal Accident (PA) Cover is an add-on cover provided by Bharat Griha Raksha Policy
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What is a Personal Accident Cover in BGR Policy?
Personal Accident (PA) cover is an optional cover of ₹ 5 lakh each for the self (policyholder) and their spouse in the unfortunate case of either's death due to an accident mentioned in the policy documents. This add-on cover is available with the Bharat Griha Raksha policy, a standard home insurance policy in India introduced by the IRDAI (Insurance Regulatory and Development Authority in India).
What is Covered Under a Personal Accident Cover in BGR Policy?
It provides a lump sum payment to the nominee or family in the event of the insured or their spouse's accidental death due to unforeseen circumstances mentioned in the policy documents.
What are the Key Features of a Personal Accident Cover in BGR Policy?
Personal Accident (PA) cover in the Bharat Griha Raksha Policy adds an extra layer of security by protecting the insured and their spouse from the financial repercussions of death. Here is a list of conditions covered:
- Comprehensive Coverage: The PA cover extends to the damages causing death anywhere in the insured house, providing financial coverage for the insured and their spouse.
- Lump Sum Payment: In the event of an accidental death, a predetermined lump sum amount ₹ 5 lakh/person is paid.
- Ease of Claims Process: Home insurance companies provide an easy and hassle-free claims process, requiring necessary documentation, such as medical reports and police records, to prove the claim.
What is the Importance of Personal Accident Cover in BGR Policy?
Personal Accident (PA) coverage in a BGR policy is a crucial add-on that offers financial assistance to the insured or their family in an unfortunate case of death, helping to cover medical expenses or loss of income. Moreover, it offers peace of mind knowing that there is a backup in case an unexpected accident happens in their place.
FAQs About Personal Accident Cover in Bharat Griha Raksha Policy?
Written By: PolicyBazaar - Updated: 13 June 2024
