Insurance benefits and policies available for persons with disabilities in India

Are you looking for a disability insurance policy?

Are you looking for the correct policy which suits your disability?

Able Aura brings you an insight on the insurance benefits from both the government sector and the private sector available for persons with disabilities.

• Most disability insurance policies in India include coverage for entire incapacity due to an accident, whether temporary and permanent.

• If you become totally and permanently incapacitated, you will receive the entire sum covered under the permanent disability insurance plan.

• For persons with 40% to 79% disability a tax deduction of up to Rs. 75,000 can be availed per year.

• Furthermore, persons with more than 80% disability can avail of a tax deduction of Rs. 1,25,000 per year.

• The Government of India offers two special health insurance schemes for those with disabilities: Nirmalya Health Insurance: covers people with mental disabilities up to ₹1 lakh for medical treatments.

• It does not require pre-insurance tests, but individuals must enroll with the National Trust to avail of this policy.

• There are two basic types of disability insurance coverage: Short-term and long-term.

• Both provide a benefit that replaces a portion of your earnings, ranging from 50% to 80%. That money can be used to pay for living expenses, repaying loans, or even put into savings.

Insurance options for persons with disabilities in India include:

• Critical Illness Insurance

• Personal Accident Insurance

• Health Insurance

• Life Insurance

• Long-term Care Insurance

• Critical Illness Insurance : It provides a lump sum benefit upon the diagnosis of a critical illness
such as cancer, heart attack, stroke, etc.

• Personal Accident Insurance :
It provides financial coverage in case of accidental death or
permanent disability.

• Health Insurance :
It covers medical expenses incurred due to illness or injury.

• Life Insurance :
It provides a financial benefit to the nominee in case of the policyholder’s death.

• Long-term Care Insurance : covers the cost of long-term It care for people with disabilities or
chronic conditions.

These insurance options may have specific riders or provisions for persons with disabilities, such
as waiving of premium or increasing the sum insured, based on the type and extent of disability.

The best Insurance companies which provide these :

In India, some of the best insurance companies offering insurance options for persons with
disabilities include :
• LIC (Life Insurance
• Corporation of India)
• ICICI Lombard
• Bajaj Allianz
• Max Bupa
• Star Health and Allied Insurance
• Reliance General Insurance

These insurance companies offer various insurance options for persons with disabilities, such as
critical illness insurance, personal accident insurance, health insurance, life insurance, and
long-term care insurance. It’s advisable to compare the features, benefits, and premium of
different insurance policies from these and other insurance companies to choose the one that
best suits your needs and budget.

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