What Is The Full Form Of CPA In Insurance?
CPA Full Form in Insurance is Compulsory Personal Accident. This is kinda a crucial coverage that ensures that if you, as the owner-driver of a vehicle, face the unfortunate events of death or permanent total disability from an accident, you’re not left in a financial breakdown. It’s absolutely essential in every vehicle insurance policy across India, safeguarding you against those sudden, harsh realities that can occur on the road, you know?
CPA Coverage Details
But yes, this isn’t just any coverage, it’s your financial shield, generously offering up to INR 15 lakhs, as mandated by the IRDAI. Should the worst happen and the policyholder succumbs to an accident, their nominee receives the full insured amount. And if the tragedy tweaks a bit, leaving the owner-driver with a permanent total disability instead, the same amount makes its way to them.
Why CPA Coverage Is Non-Negotiable?
With the daily bumper-to-bumper increase on our streets and the escalating risks that tag along, CPA coverage shifts from being merely beneficial to downright essential. It aligns with legal must-dos and throws a critical financial lifeline to the owner-driver and their family when they need it the most.