A young person is more likely to die due to an accident than by natural causes. A Term insurance plan covers the risk arising out of death. A health insurance plan can be beneficial if the insured gets hospitalized. What if an individual meets with an accident but survives with injuries (Total Permanent disability)? This may lead to loss of income for months or even years. This is where a Personal Accident Insurance policy can be very essential.
Accident cover is available in many forms like – as an optional rider with a life insurance policy, as an add-on policy to your motor insurance or home insurance, as a group insurance cover from your employer, and as a standalone plan.
Most of the online term insurance plans do not provide Personal Accident insurance benefits. Some life insurance companies provide Personal accident death benefits as riders but do not provide risk cover for disability (Permanent or temporary) arising out of an accident. These optional riders are not as comprehensive as stand-alone Personal Accident Insurance Policies.
What is Personal Accident Insurance Policy?
A PA insurance policy is a plan which provides monetary compensation in the event of bodily injuries or disability or death caused solely by violent, accidental, visible and external events. Personal accident schemes cover the policyholder against death or disability due to an accident.
What are the risks that are covered in Personal Accident Insurance Scheme?
The magnitude of the accident/mishap doesn’t matter, even minor accidents like falling off a bicycle and breaking an arm, or fracturing a leg while playing hockey are covered by a Personal Accident policy. The policy holder can claim insurance if he is disabled after an accident. Unfortunately if death happens due to an accident then the nominee of the policyholder can claim the sum assured.
A typical PA insurance plan provides;
- Accidental Death Benefit
- Total Permanent Disability benefit
- Permanent Partial Disability benefit
- Temporary Partial Disability benefit
- Some of the PA insurance plans cover medical expenses (hospitalization expenses).
- Some of the PA insurance plans cover loss of income risk too.
Accidental Death Benefit – In case of a death due to accident, the PA policy would pay 100% Sum Assured to the nominee / beneficiary.
Total Permanent Disability (TPD) benefit – In case of TPD, the entire sum assured is generally paid to the policy holder. Some companies also pay more than the sum assured (like 125% of Sum assured is paid). Example – Loss of limbs or eyesight
Permanent Partial Disability benefit – A percentage of sum assured (like say 10% of SA) is paid for a specific period of time or as a onetime payment (like 50% of SA). Example – Loss of an eye or one limb, loss of one finger etc., The disability covered under PPD can be as a percentage of Sum Assured, for example as indicated below..
Temporary Partial / Total Disability benefit – This means that for some weeks or months an individual is totally disabled and will not be able to work and earn money. In such scenarios, the policy holder will be paid a percentage of sum assured like 20% of Sum assured or a fixed periodic payment for few weeks. Example – A fractured leg is a temporary disability, and if you have taken a cover against it, your policy will pay a weekly sum of say Rs 1,000 for up to 12 months.
(Be very clear about the definition of ‘disability’ before buying a personal accident policy. Read the fine print. Permanent total disability is defined as total loss of sight in both eyes, or total loss of use, or dismemberment of both hands or legs, or one hand and one leg. Losing one eye is a permanent, but not total disability. Ask the insurance company or agent to explain the exclusions clearly to you.)
How is the premium calculated under Personal Accident Insurance Covers?
Generally the premium of personal accident policy depends on the cover you select. It can be same across all the age groups but may vary depending on the type of employment or occupation you are in. Insurance companies categorize the various professions based on the level of risk associated with the jobs, working conditions etc.,
For example – Doctors, Software Engineers, bankers etc., fall under the category of low risk category. An individual who works in a coal mine can be offered a PA policy under high risk category and the company can charge higher premium.
Comparison of Best Personal Accident Insurance Policies 2020-21
Below are some of the top and best Personal Accident Insurance Plans in India. The list includes insurance plans from;
- Apollo Munich Personal Accident Plan – Essential
- HDFC Ergo Personal Accident Insurance Policy
- ICICI Lombard Personal Protect Policy
- Max Bupa Health Assurance – Personal Accident Care Plan
- Star Health Accident Care Plan
- New India Insurance Personal Accident Policy &
- Oriental Insurance Personal Accident Insurance Policy
(Click on the below image to open it in a new browser window)
- In my view, Apollo Munich has very comprehensive Personal Accident Plans.
- Their plans also provide optional covers like in-patient hospitalization expenses, Loan secure etc.,
- Apollo Munich Personal Accident – Advanced & Elite Plans offers sum assured of up to Rs 10 Cr.
- Max Bupa’s Accident Care plan provides 125% of Sum Assured as insurance cover in case of an accident leading to Permanent Total Disability. But, their premiums are on the higher side.
- Max Bupa offers ‘CritiCare’ critical illnesses optional cover.
- Most of the Insurers do not cover accidents arising out of Terrorist acts. But, ICICI Lombard’s Personal Protect Policy covers different types of accidents like road, rail accidents, accidents due to natural calamities and also arising out of terrorism/ terrorist acts.
- ICICI Lombard provides life-long renewability but only in the absence of a claim.
What the insured (policyholder) has to do in the event of an Accident? (Personal Accident Cover Claim Procedure)
In the event of Accidental injuries;
- Immediate written notice should be given to the Insurance Company with all the particulars.
- Duly completed Claim form along with the following documents has to be submitted.
- Medical Certificate about the nature and extent of accident resulting injuries.
- Medical Examiner’s Report.
- Details of treatment rendered by the attending Doctor/Hospital/Nursing home.
- Certificate from the employer to the effect that the Insured was on leave during the period.
- Fitness certificate.
In the event of an Accidental death, the following documents are required to be submitted by the nominee:
- Post-mortem Report
- I.R./Police Report
- Medical Report by Doctor/Hospital/Nursing Home
- Death Certificate
- Original Policy Bond
(The claim procedure or the required documents list may vary from one insurance company to insurance company and also on the type of claim.)
FAQs on Personal Accident Insurance policies
- Is the claim payable in case of natural death? – No, it is payable only in case of accidental death under PA insurance scheme.
- Are there any tax benefits for the premium paid? – No tax deduction can be claimed on the premiums paid for Personal Accident covers.
- Is the insurance coverage available worldwide? – Yes, coverage under PA policy is generally available worldwide. However, claims, if any, will be paid in Indian currency.
- Is medical checkup compulsory to take PA insurance cover? – Generally no medical test or examination is required to take Personal Accident policy (but it can be mandatory depending on the policyholder’s age / occupation).
- Can non-earning individual take Personal Accident Insurance cover ? – A proof of income such as Income Tax Return , salary slip etc is required for claims. A non earning individual can have policies like Janta Personal Accident Policy , Gramin Personal Accident Policy etc
- Can I cover my kids and spouse (housewife) under Personal Accident Policy? – Yes, Children and spouse are eligible for this cover and you can include them in your PA policy. You may opt for Family Package cover. But insurance company may offer only a certain percentage of the sum assured as cover like 25% of SA for kids or 50% of SA for spouse.
- Who determines the percentage of compensation in case of partial loss or partial disability? – The amount of compensation for a partial loss depends on the extent of loss and it is clearly specified under the policy terms and conditions.
- Are accidents occurring out of acts of terrorism covered under PA policy? – Claims arising out of terrorism or acts of terrorism are generally not covered in PA policies. But, some
- Can an NRI take PA policy? NRIs are eligible to buy Personal Accident policies but subject to the terms and conditions as levied by the insurance company.(For example – The proposer/proposed insured person must have an Indian address for communication. Proposer must be in India at the time of signing the proposal form etc.,)
- Is there any specific type of accidents which are excluded from purview of cover? – The following type of accidents are generally not covered;
- From intentional self-injury, suicide or attempted suicide.
- Whilst under the influence of intoxicating liquor or drugs.
- Whilst engaging in sporting activities (aviation or ballooning for example).
- Directly or indirectly caused by venereal disease or insanity.
- Childbirth or pregnancy related.
- War, invasion, act of foreign enemy, hostilities, civil war and many more..
Why you should buy a stand-alone Personal Accident Insurance Policy?
- As per the WHO report, India ranks 1st in the number of road accident deaths across the 199 countries reported in the World Road Statistics, 2018 followed by China and US.
- A total of 4,67,044 road accidents have been reported by States and Union Territories (UTs) in the calendar year 2018.
- Young adults in the age group of 18 – 45 years accounted for nearly 69.6 percent of road accident victims.
- Tamil Nadu and Uttar Pradesh remain accounted for the highest number of road accidents and death on account of road accidents respectively in 2018.
These days the probability of accidents is very high. Hence, it is advisable to have a comprehensive Personal Accident Insurance policy besides a term plan (buy a basic term plan) & a health insurance plan. Your PA policy should ideally cover Accidental death, Permanent Total Disability and Permanent Partial Disability. It is good to have Temporary Disability (total/partial) and Medical Expenses also covered. You can take a cover of up to 10 times your annual salary.
Since agents / advisers get very low commissions on Personal Accident Insurance Plans, they usually try to bundle the personal accident cover with some other insurance product (motor/home/life insurance). But, it is better to buy a comprehensive and stand-alone PA cover. It is advisable to download and go through the prospectus, brochure, policy wordings documents before you buy a Personal Accident Insurance Policy.
Continue reading :
- If Life is unpredictable, INSURANCE can’t be optional
- 11 vital factors to consider when choosing the Best Health Insurance Plan!
- 7 major reasons why you need Travel Insurance while travelling abroad!
- LIC New Plans 2019-2020 | Features, Snapshot & Review of all the Plans
- Best Family Floater Health Insurance Plans – Details, Checklist & Comparison
(Image courtesy of Chris Sharp at FreeDigitalPhotos.net)
which is the best PA as per your recommendation. Most of them are having very less TTD.
You may check out PREMIUM (more value added features) plans of these Insurers.
I am planning to purchase PA for my father ( Age: 63 Yrs). He is suffering with Diabetes and BP. He is not working.He frequently travels through Bus/Train/ Auto to my relatives house/Temples/Friends.
1. Is there any policy for this age( 63 Yrs) persons.
2. Is PA applicable ,if a person is fallen from the steps OR Bath Room OR Getting down from the vehicles.
3. Is PA applicable , if an EYE /Hand damaged unknowingly ( like vision damaged even taking medicines / Sudden Paralysis)
4. The SA 25L, in a year the person effected by – Temp Partial Disability in first 3 month, received amount as per the policy , again PPD occured next 3 months again amount received as per policy , later Total Permanent Disability occured in another 3 months received amount as per policy , later the person met death by local auto driver accident. Now, how much amount insurance company will pay?
Awaiting for your reply
One has to go through the Product features to understand if these are covered or not. Suggest you to contact a trusted Insurance agent.
For most the plans the entry age can be around 60 to 70 years.
For Personal Accident Insurance and Family Floater Health Insurance plan, is it compulsory to take the insured person to the Network Hospital for any emergency or if taken to any hospital, will the benefits of the policy still be active?
Dear Mr Sharma,
If the insured person gets hospitalized in a Network hospital then Cash-less payment is possible.
Else, can join in any hospital, may have to first pay from his pocket and then claim the expenses from the Insurer.
Kindly read :
Important factors that one needs to consider when buying a health insurance!
Best portals to compare health insurance!
Thanks for clarifying.
Super website with lots of information’s.
I am looking for 1cr personal accident with disability insurance .
Gone through most of the policies in the market.I selected 4 policies (Apollo,Future,Star and ICICI). Is it fine if I split 1Cr in four parts and buy insurance in this 4 companies?
Apollo 25Lac – variety of covers available with TTD 15K/W,
Future 25Lac – TTD 10K/W includes Terror Act,
Star 25Lac – TTD 15K/W,
ICICI 25Lac – include Terror act .
By splitting ,I get all this benefits:
Accidental Death and PTD sum insured 1Cr,
TTD – 40K/W,
Terror Act – 50Lac cover.
If I get cover for 50Lac in Future Generali insurance then I will drop buying ICICI,because Future generali policy premium is low ,includes TTD and terror act.
If you believe that you/your nominee can manage conveniently multiple polices and if they meet your requirements, kindly go ahead.
Very informative article.
Apollo Munich offers Premium PA plans for family as well. We are a working couple and planning to purchase PA policy. But, SA for second member is 50% of primary insured. It is costing ~ 10k for 50L SA for primary insured and 25L for second member and including TTD of 15L each.
Just wanted to know experts opinion before purchase. Could you throw some light on it ?
Dear Uday ..If the said PA plan meets your requirement, you may kindly go ahead…but kindly opt for who is primary insured based on the current/expected earning potential.
Dear Sreekanth, very good article.
in the claims procedure section, in case of accidental injuries, you have mentioned “Certificate from the employer to the effect that the Insured was on leave during the period.”. didnot understand why? you mean to say that if the insured met with accident during work, will he not be paid benefit? kindly give your valuable openion
Dear RAJ ..It is to justify his absence from work due to accident.
Congratulations on such an insightful website.
1) I have a query regarding which personal accident policy one should opt for such as permanent total disability / partial disability / temporary disability? Out of your list above hardly any insurance provider covering every aspect of personal accident policy or offering low SA. Kindly suggest?
2) Instead should I consider buying a term plan with personal accident rider (but they seem to cover benefit only on death)? or any term plan covering all aspect of damage due to personal accident (death / disability)?
3) Any suggestion on best Critical Illness policy to buy?
1 – Agree that most of the plans offer low SA. You may consider Apollo Munich plan.
2 – Yes, most of the termplans offer Accident death benefit rider only and do not cover Disability risk. Hence, advisable to take a stand-alone cover along with basic life cover.
3 – Tough to suggest. Kindly read: Best portals to compare health insurance plans.
I am NRI,working is very high risk zone.I am in oil and gas industry, working in very high toxic gas environment. Although we have all safety measures in our plant however their is always a risk of accident/total disability/permanent disability. Will I get a Personal Accident Policy? If yes can you kindly suggest which one will suite my purpose.?
Also I would like to know what happens if body is not found,in case of a unfaithful event like explosion or fire in my work place.
The only way you can get to know if you are eligible to buy a PA cover is by applying.
Suggest you to contact any general insurance company (may be Pvt ones are bit more aggressive and may accept your profile) and ask for premium quote.
Hi Shreekanth , I wish to buy personal accident policy for my staff ( since they travel long distance to work on 2 wheeler ), How much SA should i go for ? Would group plan be cheaper ?
Dear Vivek ..Group covers can be cheaper. Suggest you to contact any general insurance company and get the quotes.
Dear Sreekant , I am 39.(1) I have just taken a term plan of 50 lac from icici Pru life insurance ( iprotect smart) Through icici bank…(2) I have already taken family optima restore health insurance of 5 lac from star health insurance through local agent…(3) Now I am interested in standalone personal accident insurance from Apollo Munich of minimum 25 lac covering my family with dependant parent, this is online…(4)I am also thinking of taking a critical illness ins. Plan from Edelweiss Tokyo of 10 lac with a pre-fixed premium for 30 years term….
Kindly comment on my already taken TWO policies AND TWO plans I am interested in.YOU MAY GIVE A TWIST TO MY THINKING………THANKS
Term plan – fine.
Health insuarance – If your family has history of critical illnesses, you may take stand-alone CI plan. Else, you may consider buying a Super Top up plan for the family and enhance your total Sum assured.
Read: What are Super Top up health insurance plans?
Let me know if your parent has health cover?
Thanks for your response..I have no such family history of CI… FOR my parents, I have taken group health insurance of 5 lakh each ( from canarabank and Apollo Munich health insurance conglomerat ion)….but as my parents are diabetic and hypertensive SO I WAS THINKING OF MY TAKE OF CI POLICY…
YES..IF NOT CI PLAN ,I had ALREDY PLAN OF TAKING SUPER TOP UP HEALTH PLAN POSSSIBLY FROM L&T insu . comp.whch is affordable for me… Kindly have your views…
If your parents are diabetic, you may buy a stand-alone diabetic related policy and then a Super top up plan (family floater super top up).
Read: Medical insurance plans that cover Diabetes.
Thanks a lot for your precious advice …….
I am little confused in opting PA policy plan for Rs. 50 Lac among apollo Munich or Start Health Insurance companies, they both have almost all benefits same under personal accident policy but quite difference in premium amount,
since you are an expect I would like you seek your advice on this.
Apart from this, I am also thinking to purchase HDFC Click to protect plus Term insurance with Critical Illness rider, do you have any suggestion for any other company with same sort of product?
Kindly let me know.
You may buy the plan which is affordable and meets your requirements.
Top online term insurance plans.
HDFC Click2Protect plus review.
IRDA’s claim settlement data.
Hi Sreekanth Sir,
I have HDFC Term Plan without any riders for Rs.1 crore. I need to take Personal Accident plan. From the above list that you have provided, only Apollo Munich and Max Bupa are providing SA of Rs.50 lacs and above. They also have TTD for Rs.10 lacs and above.
1) How much SA do you recommend based on the Annual Income.?
2) Do you recommend to include wife in personal accident insurance.?
3) Both insurance providers are have Medical back ground. Almost all others are general insurance companies. Will thereby any problem in claim settlement.?
4) Which one do you personally prefer Apollo Munich or Max Bupa.?
Thank & Regards,
1 – Advisable to have SA equal to your life cover if not more.
2 – Stand-alone is better.
3 – I dont think so.
4 – Both are equally good.
Thanks a lot for prompt reply sir.
I have contacted phone support of Apollo Munich for Rs.50 lacs as they don’t provide online. Phone support person said I am eligible for Rs.15 lacs TTD even though my annual income is Rs.6.4 lacs per Annum. The application that he sent was simple with questions regarding physical only but asked me to send it to Delhi alongwith Cheque. I thought as its far, its better to contact Hyderabad branch once. Hyderabad branch first said that TTD will be Rs. 10 lacs only (double to annual income) but finally accepted Rs.15 lacs. They said they are filling the form and asked OTP which was sent to my mobile. They emailed me the filled application form. When I checked it, many questions related to medical history were filled and few of them are wrong (like consumption of alcohol, smoking etc.). For everything it was mentioned as “NO”. I am afraid of rejection of claim in future. Payment of premium is still pending.
1. Does Personal Accident Insurance has anything to do with Health Details such as Diabetes, HIV/AIDS, Drinking, Smoking etc.?
2. Shall I proceed with the phone support and send form to Delhi or shall I take policy of Rs.25 lakhs which can be purchased online or go with Max Bupa.
3. I observe for Rs.25 lakhs of Apollo Policy or even Rs.50 lakhs of Max Bupa, no medical history was asked. Then why it was mentioned for Rs. 50 lacs of Apollo policy?
Please advice sir.
1 – Yes, some health conditions may lead / result in accidents. If you believe that the information provided in the Proposal form is wrong/inaccurate, kindly correct it before paying the policy premium.
2 – Your choice.
Hi Sreekanth garu,
Thanks for your valuable replies. I need your advice regarding two personal accident policies.
I have applied for Apollo Munich by directly going to their office in Secunderabad and paid the amount. They are providing 10 times of Annual Income. As my Annual income is 6.4 L, I applied for 50 Lakhs.
In the afternoon, I called Max Bupa for another 25 Lakhs Personal Accident policy as they are providing Maximum 12 times of Annual Income, which comes around 75 Lakhs. I thought, as I have taken 50 Lakhs policy from Apollo Munich, I am only eligible for another 25 Lakhs only. But the customer care of Max Bupa tole me that I can take any number of policies from Individual companies and said I can take even 50 or 75 Lakhs from them. I was in a hurry to get the policy as I thought being uninsured is a risk. As I did not had any reference number of Apollo Munich policy and also as customer care said that it is not required to mention other policy details, I have applied for 50 Lakhs policy with Max Bupa as well.
I received the policy from Max Bupa on the next day but still Apollo Munich haven’t issued policy. So, I e-mailed them stating that I have received Max Bupa policy and to update it proposal form. I received call from the person from Apollo who taken my proposal form and he says that claim is based on the human value and if I claim with Max Bupa for 50 Lakhs then I may not be eligible with Apollo and if I claim with Apollo for 50 Lakhs then I can only claim for 25 Lakhs as per their “12 times” condition. Is this true.?
I have read in your comments: “……….. in respect of benefit policies like the Personal Accident policy, where a fixed compensation is paid, no matter what the actual loss is, one may obtain more than one policy.”
You also advised to have PA Sum Assured equal to life cover “if not more”. As no company is providing above 12 times of Annual Income, your advice is surely to have multiple PA Policies.
I am sure that Apollo person is wrong. Need your advice in this regard please. I also, request to update the article accordingly so that people may not misguided and have maximum coverage. Thank you.
I believe that If you hold multiple PA policies, in case of an admissible claim, you shall get compensation from all policies, unless a policy has a cap on maximum payment.
Thank you for the reply sir. But I couldn’t understand what do you mean by “unless a policy has a cap on maximum payment”.? Please brief me.
Dear Raghav ..For example – A policy can have a sub-limit say that they can pay max Rs 1 Lakh for temporary disability though the sum assured is Rs 5 Lakh.
Thank you for your kind reply sir. I have gone through all the T&C about capping. However, lets say a person is having two 50 Lacs polices from different companies. He has Permanent Total Disability and both companies provide 100% for PTD. Will he get 1 Crore (50L+50L) or only 50L combined from both companies.?
Do I need to inform the other company about the existing policy. I applied for policy from both companies on the same day and Max Bupa didn’t asked for existing policies.
Also, during online application for Max Bupa, only 2-3 questions were asked. But in the policy document, there are more than 10 questions which mentioned as NO. When I asked Customer Care, they said that “those questions are applicable only for Critical Care policy and you may ignore”. How to clarify about it. Sorry for troubling you with so many questions. Pls clarify sir.
1 – He will get Rs 1 Cr.
2 – If there is a provision to mention the existing policies details in the proposal form, one has to mention and provide the details.
3 – Kindly check if those questions are applicable to your case/plan or not. You are welcome to ask any number of queries dear 🙂
Thank you very much for such an informative blog. I have just discovered you/your blogs and have read many of them.
I have a question regarding Total Permanent Disability rider. I recently took a term insurance from Edelweiss Tokio with the Total Permanent Disability rider. I am paying Rs. 1150 annually for a cover of 25 Lakhs under this rider (upto the age of 70).
1. Is this a good deal or shall I discontinue the rider (policy is still in the free look period)
2. Shall I buy an independent cover and keep this as well?
3. Would temporary disability covered under this rider?
1 – Does it offer risk cover for Permanent Partial Disability & Temporary Partial / Total Disability?
2 – yes, can be a wiser decision.
3 – Kindly check with the insurer.
I have Aegon Religare term insurance plan of Rs 1 crore with personal accidental rider. I am also planning to buy a 5L Star Health Optima plan. My main concern is to take care of my hospitalisation expenses in case of accidents. Can you suggest a policy which can provide this expense of upto 6-8 L and whether in your view I require a seperate Accidental plan ?
Advisable to have a stand-alone PA plan.
Thanks so much for such a prompt response. I have to pay Rs 6629 for a 5L cover and by paying Rs 2500 extra I can make this a 10L policy. Whereas for a seperate 5L PA top up, it would cost approx 1800. So isn’t it better to increase the entire mediclaim t0 10L.
I am planning to buy term insurance. But now i am confused with Accidental Insurance. Please explain the benefit of being separate Accidental insurance.
In HDFC Life Indurance for Accdiental death additional 5 -7 thousand extra premium pa. But sum assured in 2 crores if we opt Life insurance for 1 crore.
If i take separate accident insurance (Apollo Munich) sum assured up to rd 10.00,00. but premium is 1800 so premium is less and i got the following benefits
1. We can add family members also
2. expense for hospitalization and etc.
But i am confused is the amount less compared with life insurance plan. Please explain why we opt of separate accidental and how much it is needed?
Stand-alone personal accidental plan is beneficial in case of risks arising out of Disability.
Death benefit is covered by both Term insurance and PA, but very few Accident riders in Term plans cover Disability risks.
Hence it is better one opts for basic term plan cover and then a Stand-alone PA plan too.
ok got it thanks. but in this case how i calculate accidental policy. double amount of LIC or 10,00,000 is enough. I am confused that this is also the amount equal to LIC for the benefirs of family
Also what about adding family members also for accidental insurance
I could not get you. ‘What is double amount of LIC? ‘
You may include the family members but it depends on the type of plan offered by different non-life insurance companies.
For example : HDFC Ergo’s PA plan accepts inclusion of Family members in a policy.
Sorry. I mean if i put Term insurance of rs 1 crore, accidental death benefit is 2 crore. This is i mean by double amount
It can be to the tune of 50% (minimum) to 100% of your basic term cover (sum assured). Again, it depends on many other factors too, your occupation , dependents profile, financial goals and obligations etc.,
Took Star Health’s policy for a coverage of Rs.500k and opted for Medical Cash Extension and Hospital Cash options. Though a little confused about Medical Cash Extension option, I mean what is this option all about. Can you please throw some light on this.
I believe that this is an optional benefit and additional premium is charged to avail this benefit.
The insurance company will pay any medical expenses (in-patient or out-patient) to the insured person in connection with any accident for which a Claim has been admitted by the company. 25% of valid claim or 10% of the Total Sum Assured or actual expenditure whichever is less, subject to overall limit of Rs 5Lakh will be paid.
Hi, thanks for replying.
I have taken Star Health policy along with Daily Cash Option and 1 more option. Does this policy provides Hospitalization expsenses reimburshment. If no, then what is the purpose of PA policy. How is it different from Life Ins. then.
It should provide but do check the policy wordings.
In life insurance, the policy holder’s nominee will receive claim amount on death of the insured. Whereas if one has PA policy, even temporary or permanent disability risks are also covered. Kindly read the above article again.
I am 24 employed in BOI and looking for a personal accident insurance plan although my co. provides me medical insurance via TPA-IBA-BANKS tie-up. I have zeroed in on some plans but before proceding further I would like to clarify a few points.
1- During the policy period, suppose I met with an road accident, say a car rammed my bike (:-)) and fortunately a didn’t die and is hospitalised then will the insurace company took care of my hospitalization expenses incurred for things like surgery, medicines, room charge, etc. (of course subject to sum assured)
2- If yes in Pt. 1 above then will there be any category cap on such expenses like a limit of, say, 100000 on meds, 10k on docs consultation, etc etc.
3- I’m just looking for a plan which takes care of my hospitalization exps. i. event of accident.
It depends on policy terms & conditions. For example : In case of ICICI Lombard ‘Personal Protect’ policy, ‘Optional coverage against Accidental Hospitalisation Expenses and Accidental Hospital Daily Allowance’ is provided. kindly note that in this case, it is OPTIONAL.
So, it is better you have both PA policy & a Health plan.
I have a personal protect policy from ICICI Lombard. However only now do I learn that it doesn’t cover Partial Disability.
Does it make sense to take an additional accidental cover, say from Apollo for this purpose?
Is this legal? Also, in case of unfortunate events, can the claim be made to both of these plans?
Dear Jack..It is absolutely acceptable to have multiple policies. Yes, claim can be made on both policies (if any).
Thanks Sreekanth. 🙂
Appreciate the quick response. I’m impressed and grateful for the kind of reviews and clarifications you’ve provided on this site.
Have started recommending my near and dear ones to check out the site for Insurance related info. Please keep this going. You are helping a lot of people with this effort of yours.
I’ve one question based on your reply, considering that original medical bills/etc. need to be provided to an insurer, how can such a dual claim work?
Thanks Sreekanth. 🙂
Appreciate the quick response. I’m impressed and grateful for the kind of reviews and clarifications you’ve provided on this site.
Have started recommending my near and dears to check out the site for Insurance related info. Please keep this going. You are helping a lot of people with this effort of yours.
I’ve one question based on your reply, considering that original medical bills/etc. need to be provided to an insurer, how can such a dual claim work?
Thank you for the appreciation and kind words..appreciate it!
In case of an indemnity cover (one that seeks to compensate the actual loss ) for instance, a policy that covers property, if there are two policies in vogue, the loss shall be shared by both the policies. In no case can an insured get more than the actual pecuniary loss he or she has incurred.
On the other hand, in respect of benefit policies like the Personal Accident policy, where a fixed compensation is paid, no matter what the actual loss is , one may obtain more than one policy.
Awesome info. Thanks!
Now I’m onto reading about your review on LIC policies. 🙂
Also, in addition to recommending the website to folks, I would like to help keep up this effort of yours.
Let me know, via mail, if at all you need any help.
Dear Jack..I will surely try my best to continue publishing high quality & unbiased articles. Thank you for sharing my articles with your friends. Keep visiting!
Hi Sreekanth garu,
I am unable to reply on Q&A Forum of your site, writing my query here.
I am struck between HDFC & ICICI term plans due to “Riders”. However, in most of replies you are recommending Pure Term Plan. May I know the specific reasons for not encouraging Riders, as they seems to be attractive to me. Any best alternatives to the Riders? Does stand alone Personal Accident & Health insurance provide what Riders are providing.? Are the T&C complicated w.r.t. Riders in Term Plan. HDFC is providing 1% of SA per month for 10 yrs on Permanent Disability. I think ICICI has some premium waiver, Critical illness etc. Which are cost effective (Stand alone or Riders). It will be great if you can write an article on Riders & alternatives to it. Meanwhile, please suggest me regarding Term Plan.
Kindly note that most of the ‘optional riders’ are not as comprehensive as the stand-alone plans. For example: The accident death benefit riders offered by most of the life insurance companies do not offer ‘permanent disability benefit’ which I believe is must have risk cover.
Whereas, if one takes a separate Personal Accident Insurance Plan then it offers comprehensive disability cover too.
So, one needs to compare the features of Riders & stand-alone plans, also the affordability factor and requirements before taking a final call.
Term plan: kindly read: Best Term insurance plans.
(Did you get any error message while posting your question in the Forum section?)
Hello Srikanth garu,
Thank you for your reply. I have seen HDFC Online Term Policy having “Permanent Disability Rider” providing 1% of Sum Assured on monthly basis for 10 years which comes around 120% of Sum Assured given in span of 10 years on Permanent Disability. Whereas ICICI giving waiver of Premium on Permanent Disability. I do understand that there is no lump sum payment & no coverage for partial disability, should I consider this Rider. Premium is around 1500-3000 higher if this is included for SA of 50-100 lacs. For Critical illness, a lump sum amount is paid. However, what happens to the policy once that amount is paid upon Critical illness could be tricky. Do you have any information on that.? I wont consider Accidental Death Rider as I will take insurance to maximum value & this Rider is not feasible. Anyway, Personal accident cover will take care of misc expenses. I am concerned in cases where one is Disabled due to Accident or Critical illness.
Regarding Q&A Forum, I couldn’t find “Reply” button or option to the comments.
As I conveyed in my previous comment, if you would like to have a comprehensive cover and lump sum payment, do consider stand-alone plans.
In-case if optional riders meet your requirements, kindly go ahead and add optional riders to your base policy.
Generally, once a critical illness is medically diagnosed then lump sum payment is paid and that rider cease to exist and in most of the plans the base life cover will continue.
Forum: You have to create login Id to post queries. Kindly try to use the Forum section.
Hello Srikanth garu,
Thank you for the quick replies and valuable information.
ICICI Critical Illness Rider was tricky. Once Critical Illness is found, a lumpsum amount is paid and Term plan will continue with Sum Assured is reduced by that lumpsum amount. Its a big loss.
I have finalized to take HDFC 50 lacs Term Plan with Income Plus option and Disability Rider. I will take another Personal Accident policy of 30-50 lacs. I need your valuable suggestions for Health Insurance for family (wife, child & parents). Also, do you recommend to take Critical Illness policy for me and/or family.?
Also, recommend best options for PA & Health/Critical Illness stand-alone insurance.
I have provided best PA plans in the above article.
Regarding Health Insurance plans, kindly go through below articles;
Best Family Floater Health insurance plans.
Evaluate these 11 factors when buying a Health Plan.
Best portals to compare health plans.
In case if your family has a history of an Critical Illness, suggest you to buy a stand-alone CI plan.
myself and y wife are govt employees and interested in taking comprehensive personal accident policies for both of us. Please suggest the best two insurance companies for this. I do not want any problem in case of any claim. I also want to know whether syndarogya mediclaim policy of unite india covers accidental medical expenses? And also suggest a mediclaim policy that can cover pre existing disease i.e. congenital heart disease, of my son aged 11 years.
Please guide us.
You may go ahead with any of the PA plans mentioned in the article as per your affordability & requirements, as these are some of the best ones. In case if you want higher Sum Assured as risk cover, you may consider Apollo’s plan.
Regarding health plans, it is very tough to suggest the best one.
Kindly go through below articles, can be useful;
Best Family Floater Health Insurance Plans,
Best Portals to compare medical insurance plans.
My wife is an officer in Central Govt, GOI as is covered under CGHS. May I know how is this CGHS, facilities and all.. and whether it would be sufficient or do we need to buy a seperate health insurance. I am asking this cause I am skeptical about the red tape around government machinery. Thanks.
I am not aware of the said scheme’s details. CGHS (Central Government Health Insurance Scheme) is a health scheme and the above insurance plans are personal accident insurance plans.
It is always better to have a separate health insurance plan outside your employment.
You may continue reading:
Best Family floater health insurance plans.
Best Portals to compare health insurance plans.
I have one more query.
Is PA Policy necessary for non-working person?
I mean is it better to get PA cover for school / college going children, senior citizens / retired persons and housewives since they do not travel extensively like office goers.
Generally it is not required. But health insurance cover is very much essential.
How does this policy works for diabetic and smoking persons, can you please suggest? Will there be any problem at the time of settlement..in case of any unfortunate event.
Kindly note that these are not life insurance / health insurance plans.
Personal accident schemes cover the policyholder against death or disability due to an accident.
We need your valuable suggestion in my uncle case.
My uncle has Personal Accident Insurance policy from SBI General Insurance. He paid last year premium and we have the receipt with us. Receipt states that he is insured for a period of one year from 06-Feb-2015. He is supposed to pay premium this year but unfortunately he met with an accident on 05-Feb-2016 at 3 PM and he is in very serious condition. We tried to report to insurance company but to our surprise they said his policy is expired on 04-Feb-2016.
As per statement (one year from 06-Feb-2015) from insurance certificate, policy is supposed to be in Force till mid night of 5-Feb-2016. But we could not understand why SBI people said it got already expired by 4-Feb-2016. We could not argue much with them at this time because we have to take care of our uncle first and handle this insurance part later with expert advise like yours.
Can you please check our case and let us know whether our understanding is correct.
Your suggestion in this regard is very much appreciated and helpful for our uncle family at this time.
If the policy is valid till 5th feb 2016, then they have to honor your claim. Did you contact them over phone or email? do yo have any proof that you have informed them about the accident?
Kindly check if there is any ‘grace period’ to pay renewal premium under the policy. Generally there won’t be such provision under non-life covers.
Download claim form..
I hope your uncle is doing fine now.
Thanks a lot Sreekanth for your prompt response.
We contacted SBI on 6-Feb-2016 for premium payment and they said policy is expired on 5-Feb-2016. when we asked about renewal, they said they cannot renew it without person at office.
Since the person is still in critical situation, can we claim if there is any unfortunate thing happens?
Also do we need to inform and have them visit the hospital for smooth claim process Or wait for some more time?
The last question I have is, since the person is completely brain dead, we are considering donating organs for people in need. If we donate organs, can the claim be successful?
The policy should be have been renewed on or before 5th feb. Unfortunately your uncle have not done that.
You have contacted SBI after the expiry of the policy (6th feb). So, they will not honor your claim.
I want to share my experience. I have taken a online Apollo Munich auto restore health insurance policy 0f SA 3 lakh for my family in August 2015 , premium was 9900/-. I broke my arm in an accident in Jan-2016. I went to a hospital near my residence which was on the panel of Apollo Munich and got admitted. I informed the hospital staff regarding my cashless medical insurance, they asked for my insurance papers & cards. The same day my hand was operated. I myself informed the insurance co about my admission into hospital, operation & accident the next day but before 24 hours of admission into hospital. On 3rd day of the surgery a doctor/surveyor came to the hospital & met me. He questioned me reg. accident & operation, took my photo, took the photo of my medical documents & take my sign on my statement. The same day I was discharged & hospital had not asked a single rupee from me. I was very satisfied with this. Apollo Munich insurance is the best & it saved my at least 35000/- medical expenses.
I need a personal Accident Insurance for my staff when i checked 1 year before policy from sbi I used to get it at rs 127/-
for a policy of 2 lakhs and rs 30,000. can i get the same policy now i need some thing like 200 -300 please help
Recently, one health insurance agent suggested me to buy a PA cover. However, I ignored him. After some days, he once again approached me and said my Life Insurance policy does not cover accidental death. When I rechecked my Life Insurance policy, I was shocked since what he said was true. I was under the impression that death under any circumstances is covered by my policy. However, only natural death was covered by the said policy since I didn’t take separate accidental death rider.
Now I want to buy PA policy at the earliest as I want to plug a lacuna in my insurance portfolio. He suggested me to buy a PA policy of Rs.10 Lacs to begin with which covers Accidental death (100% of SA), Permanent Total Disablement (100% of SA), Permanent Partial Disablement (certain % of SA depending on severity of injury and resultant disablement) and Fractures (upto Rs. 50,000/-) for a premium of Rs. 1850/- He also suggested that I can opt for Add on benefits of hospitalization (upto Rs. 1 Lakh) and daily cash allowance (Rs. 500/- per day for max 5 days) by paying another 1,100/- thus totaling to Rs. 2,950/-
I am not sure about buying Add on benefits since I have a separate health insurance policy which covers hospitalisation due to accident.
Hence, I would like to have your opinion about whether to buy this policy? Will it be beneficial to me? And if bought, should I buy basic policy (Rs. 1,850/) or with add on benefits (Rs. 2,950/-) since I don’t want to pay unnecessarily for risks already covered.
Dear Rupali..If some of the risks are already covered by another insurance policy, you may opt for a basic one.
By the by could you please share the name of your Life Insurance policy??
While taking HDFC ergo personal accident insurance i was told by executive that i will get 10% cumulative bonus for every claim free cycle.I have taken policy for 2 years and renewed it again for 2 years till Dec 2017. Now when i enquired again after renewal they have informed me saying i will get only 1 cumulative bonus and it is completed.
When i dropped multiple mails they replied saying apologies for wrong information conveyed and i wont get cumulative bonus from now on. What should i do now? Do we have portability for accidental insurance in India?
I believe that Portability is not applicable to personal accident policy.
If you are not satisfied with their service/product features, suggest you to buy a new one from another company.
Besides, checking the info with agent/customer care, suggest you to download the product brochure/policy wordings and understand them before you buy.
I am planning to buy a PAI policy. I am 31 yrs old. My annual remuneration is Rs. 422000/- and I am engaged in sales and marketing. How much PAI should I have? What about PAI policy offered by Bharti AXA?
It is tough to value the human life but some yardstick is required to fix the sum assured. As a thumb rule, it can be 100 times your monthly income. For example, if your current monthly income is Rs 10,000 then your cover should be Rs 10,00,000.
Dear Sreekant, thank you very much for providing such valuable information. It is indeed a very well written article. I have no hesitation to say that my knowledge of financial instruments was very limited and restricted to LIC and post office scheme. I appreciate your work and wish you best of luck for your future endeavor. Please share your views on following points.
1. I have taken Max life term plan and its comprehensive accident benefit rider. after reading your article I want to take PAI. Should I discontinue this rider and take PAI or let it continue?
2. I want to take PAI for my wife ages 30, a kid aged 1 year, and myself aged 32. Should I opt for separate plan or take a family plan? please suggest one plan in either case.
1 – If it is comprehensive and you are aware of all the terms and conditions then continue with it. Kindly take new PAI plan in case if you are planning to enhance your sum assured with additional benefits.
2 – Do all of you have health insurance cover? Is your spouse an earning member of your family?
No one has health insurance cover in my family. My spouse is also an earning member of family.
You may suggest your wife to buy a Term plan for self.
Get adequate health insurance cover at the earliest.
Best Personal Accident Health insurance plans.
Best portals for comparing health insurance plans.
Dear Sreekanth Reddy,
Now a days, for insurance and investment, i’m looking yr portal only..
its unbiased.. good work..
Kindly suggest for following,
1. I’m having term insurance for 50L in Bharti axa for Rs.4607 (started last year)
I compared many insurance and finalized Max life and axa..
bcoz of familiarity of bharti group, i took that..
but as per your review, now i’m planning to change with kotak/max/icici..
is it good to change? kindly suggest..
2. Also i planned to get accidental insurance for disability benefit, suggest best one..
3. when Accident+critical+health insurance covers all things, then y we need term? thats my doubt, kindly review..
Happy to know that you are finding my articles useful.
1 – If you have already taken a term plan, stick to it. As long as you have disclosed all the required info in proposal form honestly and accurately, do not worry about any other things.
2 – Refer above list provided in the article.
3 – It is costly to get high cover for say Rs 1 cr under critical or health insurance plan. You can as well go for term plan. But term plan do not cover hospitalization expenses hence health insurance is required. Health insurance & Term plan do not cover say permanent disability risk.
I don’t understand why people just ignore buying PA policy even when it is available at cheap price. Are people really ignorant about existence of such product or they are not educated by advisers and agents? (since commission is minimal for selling these products)
Also, when I tried to suggest medical insurance for some of my neighbours and relatives, they didn’t show much interest in it since they thought they don’t get any benefit/ returns from such plan (as opposed to traditional life insurance policies). They viewed it as an expenditure. This was their thinking.
What to say???
‘Nothing will happen to me / my family’ is the attitude or perception that many individuals have.
There are some individuals until some thing happens to them they do not realize the importance of insurance cover (I am not wishing any bad thing to happen..).
You can convey them that even if they invest in traditional plans, they are not going to benefit much and infact it leads to wealth erosion.
You may share below articles with your friends to convey this message;
Why INSURANCE is important?
Term insurance Vs traditional plans.
Since disability rider of HDFC Protect Plus, does not cover Temporary Accidental disabilities, I guess I would not take the rider and proceed with basic term plan and buy separate PA Insurance. What is your view on it?
Also what is your view on term plans duration.. till 60 yrs, 65 yrs or entire 70 yrs.. Pros and Cons would be helpful.
Also any inputs on PA insurance.. Planning to choose between Star Health and Bharti Axa Gold.. Will check SBI Saving account one suggested by one of your readers.. Suggestions will be appreciated.. I have gone through your links so would need suggestion.
Stand alone PA policy is better than opting for Riders.
The duration can be dependent on your expected retirement age or till the time you expect to have financial obligations or financial liabilities (if any).
If you are planning to have higher cover then you can consider bajaj / icici / apollo’s plans.
I want to buy Personal Accident Insurance for my Uncle.He is 45 and Bus Driver with 14000 monthly Slaary.Whats the maximum Accidental coverage we can get ? Is there any thumb rule like 10 times of Annual salary only can be taken ? Bcoz Bajaj,SBI probvide max 10 lak coverage only..
Even Term insurance,They are providing sum assured based on Income only.Since he is a bus driver,i wanted to cover maximum for safer side ? Can you provide the inputs on how to maximize the Coverage for Low Income people ?
I am planning to take additionally SBI Group Personal Accident Insurance for Savings account holders which covers 20 laks for 1000 premium – Here anybody can take without any Age/Profession/Income restriction.
Can you give your advice ?
Yes, term insurance cover is given based on the income of the proposer.
For accident cover, most of the companies do not offer large sum assured. Kindly check plans offered by Apollo (max Rs 50 Lakh), Bajaj (Rs 25 lakh) & ICICI (Rs 25 L).
Thank you for sharing good info on SBI group ins. Will try to do some analysis on this category.
I am looking for an insurance cover for self. I plan to buy HDFC Protect Plus as term insurance with Accidental death and accidental disability rider. Do you still suggest I need to buy a PA? If yes, can you explain why?
I intend to buy a more comprehensive health insurance with the above mentioned term insurance. Your experience and insights will help me choose my correct insurance portfolio. Request your help and response ASAP as I have my birthday in coming 2 weeks and need to close this.
I am 30 years old and plan to buy insurance till 70 years. Insights around 60 or 65 also would be beneficial.
Based on your personal requirements, if you are convinced that riders are sufficient then go ahead and buy Term plan with riders. But do read the terms & conditions w.r.t disability rider.
Kindly read this article : Best portals to compare health insurance plans.
A very good afternoon to you and all our blog readers!
As I said earlier, I have purchased
1) Online term insurance, “HDFC Click2 Protect Plus” for 55 lacs,
2) Stand alone Personal accident policy for 50 lacs from “Apollo Munich”
3) Super top up mediclaim policy for 10 lacs with 1 lac deductible from “Apollo Munich” beside my company’s group medicliam policy for 2 lacs.
I would like to share my experience with the Companies while purchasing the policies, so that it will be useful for other readers.
1) Apollo Munich’s services are very very good, with one single personal meet at my home, just within 7 working days, I have received Policy document in hand both soft copy by email and hard copy by post. and
2) HDFC Life Insurance company, for my term life insurance, they have taken 45 days to issue a policy though it was purchased “ONLINE”. For each and every email communication, they took 3-5 working days to respond, acknowledge or confirmation whatever the communication is.
As I am 41 years old, as I mentioned “Hypothyroid and heavy snoring” in my proposal form, they have advised me to undergo medical checkup at their prescribed diagnostic centre, I have under gone. Further, they have loaded me with 90% extra premium.
Even, they have reduced my sum assured amount from 75 lacs to 55 lacs.
My over all experience with HDFC is “Very good” though it is delayed and loaded with extra premium, but they have taken all required steps, so that, I believe, when ever claim is required, my family members may not face any difficulty in claiming process.
Dear Sreekanth, Thank you for your advises through your blog, which were helpful for so many lakhs of people like me while taking such big decisions.
I would like to post the same info in your 2 – 3 relevant articles, which will be helpful for all other readers.
It is good to see that you have relocated to Proddatur, so when I visit my native place Kadapa, with your prior confirmation I would like to see you.
I am very happy to know that ReLakhs.com helped you in making financial decisions 🙂
Thank you so much for sharing your real-life experiences with the financial service companies.
Which option under HDFC Click2protect plus did you take?
By the by, we can surely plan to meet 🙂
Your views and advices are unbiased and excellent for common man.
Please cover a article on Mediclaim portability.
I have a family floater plan ( Started with ICICI Lombard in 2008/09) then ported to Apollo Munich in year 2013. Now after reading your article on BEST MEDICAL INSURANCE PLANS , i wish to opt for another company , please share your views on mediclaim portability issues and rules.
I will surely write on this. Thank you for the suggestion.
Kindly share your views / experience on Portability (ICICI to Apollo case).
Very Nice and Informative Article. My mother aged 46 is having Apollo Munich Health Insurance. I am looking to buy a PA for her. Request you to suggest me which company should I go for, Apollo or United India. Apollo claim settlement is not available so I m confused whether to go for it or not. Please advice.
You may go ahead with Apollo.
Is your mother dependent on you financially?
MY COUSIN BROTHER NRI WORKING UAE DRIVER JOB IN INDIAN PASPPORT I WANT TO P.A POLICY WHICH COMPANY APPLY IN NRI MEMBER
NRIs are eligible to buy Personal Accident policies but subject to the terms and conditions as levied by the insurance company.(For example – The proposer/proposed insured person must have an Indian address for communication. Proposer must be in India at the time of signing the proposal form etc.,)
Very informative & nice article. Especially the way you are trying to show why accidental insurance is important, especially in India.
You mentioned that some company have coverage of accidents occurring out of acts of terrorism. Can you tell me which company as Bajaj, HDFC, Bharti don’t cover it. I am a resident of Mumbai so this coverage is especially important.
Dear Ankit..ICICI Lombard provide coverage for accidents arising out of terrorism / terrorist acts.
SBI group personal accident policy available for Rs.500/- for a coverage of rs.10lakhs. worth to lookinto for its customers
I am working in a IT company earning 7 lpa , i have medical insurance by my employer but i dnt know much about that policy(medi -assit). As I am the only earning person in family want to insured my self. I need a term plan + PA plan. As well i want to invest 1 lakh+ anum for saving scheme like ppf etc. Please suggest me some best option to take. I am single 28 yr old and have single parent to take care.
Dear chandan..Contact your employer (HR/admin team) and find out the details of your group mediclaim policy features /terms&conditions. Do not neglect it.
Kindly read my articles on;
Best online term insurance plans
Top equity funds
Top balanced funds
what not to invest in??
What about health insurance cover for your parent?
Article was really helpful thanks a lot.
Can u suggest some good healthcare plans for my parent who are senior citizens. whats your view on National Varishta Mediclaim.
Kindly read my article on – Best health insurance plans for Parents/Sr citizens.
I am glad you have brought all details about personal accident insurance in one place. I wish all should read this article and digest.
Thank you Sir for your kind words 🙂 . Keep visiting!
your articles are always up to the mark , informative & easy to digest
pl give me information about Health insurance (floater plan me +spouse + daughter)
what i should keep the key point s before buying it ?
Sum assured ??
i also hav medical reimbursement policy from my employer (BSNL)
kindly help me out as i am totally confusion by web portals like policy bazaar & cover fox
should i buy credit card attached health plan ??
pl i am in dilemma
Thank you for following my blog.
If affordability of premium is not an issue, kindly consider family floater from Max Bupa.
Also, kindly read my article on Super Top-up plans, these plans can be beneficial to you.
Wonderful article about personal accident. Good explanation on each topic and FAQ’s. Is it available online or need to contact an Insurance agent. Which will be best if both are available. Thanks.
Thank you dear Bala. Yes, most of the plans are available online too. You can buy PA policy online but make sure you understand the policy wordings especially regarding the ‘disability cover benefits’. If you are not comfortable buying it online, you may take help of an Agent or Fin adviser.