Comparing insurance products difficult? Opt for a standard policy

Evolved buyers with specific needs should go for comprehensive personal accident cover

The Insurance Regulatory and Development Authority of India (Irdai) has asked all general and health insurers to offer a standard personal accident (PA) cover, to be called Saral Suraksha Bima. Insurers have to begin offering it from April 1.

Core needs covered

The standard PA policy will have the same features across insurers. Prices could vary as they will be decided by the insurers.

Under the base policy, the standard policy will cover death due to accident (benefit to equal 100 per cent of sum insured, or SI); permanent total disablement (same benefit); and permanent partial disablement (benefit could range