What is personal accident insurance; how do you claim it?

The Insurance Regulatory and Development Authority of India (Irdai) has constituted a working group to deliberate on the concept of periodic payment of the insurance claim amount in case of personal accident insurance and defined benefit health insurance plans.
Defined benefit health plans pay a lump sum to the policyholders in the event of the insured ailment or medical procedure. A critical plan, for instance, is a defined benefit health plan, whereas the regular health insurance plan that you buy is an indemnity product as it only pays for the hospital bills and not a pre-decided or a defined amount.

Source : https://www.livemint.com/Money/MdY93ZpSCkrWWwYz6qdq8M/What-is-personal-accident-insurance-how-do-you-claim-it.html

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