Difference between CPA and IPA

One can take a personal accident insurance policy to ensure safety from accident events. The policy offers multiple benefits in terms of an accident. Accidental injuries, total permanent loss, partial permanent loss or accidental death are covered in the policy. One of the best parts of the policy is that it offers worldwide events and the claim process is far smooth and easy. Generally, the insurance company offers two different types of policies.


Compulsory Personal Accident Cover (CAP) - The name defines some of the characteristics of the policy, this is a compulsory insurance policy one has to take with motor insurance. 

The policy offers a fixed sum insured value in case of an accident to the insured from the registered vehicle only. 

 

Individual Personal Accident Insurance - The insurance policy covers accidental deaths or injuries. The policy is not bound by vehicle accidents. The claim on this policy can cover any type of accidental event. Even though, this policy is covered worldwide. The main feature which makes it different from other personal accident insurance policies is that the value of the sum insured can be fixed by the insured.

If an insured has IPA with more than 15 lakhs sum insured value, then he or she can avoid taking CPA.

 

The above mention are the two personal accident insurance policies that are presented by the insurance companies. Furthermore, taking a personal accident insurance policy makes you feel safe and secure in life. There is financial aid that will make your burden lighter when it is most required. 

 For More Information:- General insurance company in india

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