Invidual Personal Accident Policy

  •  About Policy 
  •    What does this Policy cover? 
  •    Exclusions 
  •  Additional Information 

About Policy

Magma HDI's IndividualPersonal Accident Policy provides you and your family mitigation against the financial consequences of unforeseeable accidents.

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What does this Policy cover?

  Covers                          Plan
Basic Wider Comprehensive
Accidental Death
Permanent Total Disablement
Permanent Partial Disablement
Temporary Total Disablement  alt=  alt=

Optional Covers: 

Medical Expenses Extension Covers medical expenses as a result of an
accident resulting in the bodily injury, death
or disablement. The compensation under this
extension is restricted to 10% of Capital SI
or 40% of the Personal Accident Claim
or actual medical expenses whichever is less
Hospital Confinement Allowance Allowance of Rs 500/- per day maximum up
to 30 days, for hospitalization as a result
of an accident resulting in the bodily injury,
death or disablement


  • Natural Death.
  • Compensation under more than one of the benefits mentioned in Table of Benefits in respect of same period of disablement.
  • Any payment in case of more than one claim under this policy during any one period of Insurance by which our liability in that period would exceed CSI.
  • Payment of compensation in respect of death or injury as a consequence of/resulting from
    • Committing or attempting suicide, intentional self-injury.
    • Drug addiction or alcoholism.
    • Whilst engaged in any adventurous sports and/or hazardous activities.
    • Committing any breach of law with criminal intent.
    • War, Civil War, invasion, act of foreign enemies, revolution, insurrection, mutiny.
    • Ionizing radiation or contamination by radioactivity.
    • The radioactive, toxic, explosive or the hazardous properties of any nuclear assembly or nuclear component.
  • Consequential loss of any kind and/or any legal liability.
  • Pregnancy including child birth, miscarriage, abortion or complication arising there from.
  • Participation in any naval, military or air force operations.
  • Curative treatments or interventions.
  • For complete list of exclusions, please refer to Policy Wordings.

For complete list of exclusions, please refer to Policy Wordings



Premium rates per 1000 SI is as below (Excluding GST):

 Nature of Cover                                     Plan
Plan Age Category-Normal Category-Heavy Category-Very Heavy
Basic <25 0.42 0.63 1.26
>=25 to <= 65 0.40 0.60 1.20
>65 0.46 0.69 1.38
Wider <25 0.95 1.36 2.94
>=25 to <= 65 0.90 1.30 2.80
>65 1.04 1.49 3.22
Comprehensive <25 1.47 2.05 Cover not available
>=25 to <= 65 1.40 1.95 Cover not available
>65 1.61 2.24 Cover not available


Premium for Optional Covers: 

Medical Expenses Extension: 25% of the base Personal Accident premium
Hospital Confinement Allowance Rs 300/- per person


FAMILY PACKAGE: Special family package cover on the following line may be granted:

Earning member or spouse, if earning Maximum on the basis of yearly income (100%
of CSI Basic/Wider/Comprehensive Cover )
Spouse, if not working 50% of CSI of Insured or Rs. 2,00,000
whichever is lower ( Basic/Wider Cover )
Dependent children 25% of the CSI of Insured or Rs. 1,00,000
whichever is lower(Basic/ Wider Cover)
Dependent parents 25% of the CSI of Insured or Rs. 1,00,000
whichever is lower(Basic/ Wider Cover)


If the Insurance Company cancels the policy, Insured will be entitled to a pro-rata refund of the premium. If the policy is cancelled by the Insured, premium will be retained by the Insurance Company as per following short period table and the balance will be refunded to the Insured subject to the condition that no claim has been preferred on the Insurance Company by the Insured.

Up to 1 month 25% of annual premium
Above 1 month & up to 3 months 50% of annual premium
Above 3 months & up to 6 months 75% of annual premium
Above 6 months 100% of annual premium

Claims Document:

  • Claim form.

  • Doctor's report, bills in case of temporary/permanent disablement.

  • Police report/post mortem report in case of accidental death.

  • Leave certificate from employer in case of temporary disablement.

  • Any other relevant document.

(For Complete details, please refer Policy wordings.)


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    Customer Support: 1800 266 3202

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