You have a huge life insurance cover with a term plan to protect your family's financial future. You also have a complete health insurance plan to pay your hospital bills. Your car is insured against damage and theft, whereas your house is covered against natural and man-made calamities and burglary. But it is quite possible that you don't have personal accident insurance. In 2013-14, barely 55 individuals purchased personal accident insurance. That's less than 0.4% of the total population of the country and about 3% of the projected insurable population.