Skip to main content

PERSONAL ACCIDENT INSURANCE

 

PERSONAL ACCIDENT INSURANCE

Personal accident insurance covers death, disablement, bodily injuries to the Insured resulting solely and directly from accident caused by external violent & visible means within 12 months of its occurrence. Accident may include events like:

·         Rail/Road/ Air accidents

·         Injury due to any violent collision/ fall

·         Snakebite,

·         Burn Injury, Drowning, Poisoning etc.

Who can buy this policy?

Individuals

Members of Family

Members of Groups

Organizations

What is the cover?

Table I   Death cover

Table II   Death and Permanent Total Disablement

Table III Death Disablement & Temporary Total Disablement

Other Features are:

l  Free look Period:  Insured will be allowed a period of at least 15 days from the date of receipt of the policy to review the terms and conditions of the policy and to return the same if not acceptable.

l  Cumulative bonus: Compensation payable shall be increased by 5% for each completed year of Insurance, but max restricted to 50% of CSI

l  Medical expenses: 10% of CSI or 40% of admissible claim whichever is less, on payment of 20% of basic premium, as Add-on cover

l  Education fund: One Dependent child- 10% of CSI subject to max of Rs 5,000/-More than one Dependent child- 10 of SCI subject to max of Rs 10,000/-

l  Carriage of dead body & Funeral Expenses: 2% of CSI or Rs 1,000/-, whichever is less

Important points:

l  This is a worldwide cover & 24 -hour cover

l  Benefits under this Policy are Assignable.

 

Disclaimer:   

Zen Insurance is an IRDAI registered broker which facilitates quick & accurate insurance broking services. We deal with only regulator approved products of insurers. We do not underwrite the products

 

 

 

Comments

Post a Comment

Popular posts from this blog

Prior and Pending Litigation in Professional Indemnity Policy

  The prior and pending litigation exclusion in liability policies is a clause designed to exclude coverage for claims related to legal disputes or circumstances already known, pending, or in progress before the policy's effective date. It’s an important exclusion because it limits the insurer’s liability for events that occurred before the policy began. Here are more details about this exclusion. Purpose of the Prior and Pending Litigation Exclusion Insurers include this exclusion to avoid covering claims or disputes that were known or existed before the policy started. It ensures that the underlying policy , Directors & Officers (DnO), Professional Indemnity (PI) policy, etc., only covers new claims that arise from professional errors, omissions, or negligence occurring during the policy period and not pre-existing or ongoing legal matters. What the Exclusion Covers Prior Litigation : Any lawsuit, claim, investigation, or l...
Post a Comment
Read more

Mitigation Costs in Professional Liability Policies

  Professional Liability Insurance in India, more commonly referred to as Errors & Omissions (E&O) insurance in the case of businesses, provides the business with insurance coverage against claims of negligence, error, or omission in the services rendered by the business under insurance. In this policy, one of the features includes mitigation cost coverage. Mitigation costs are sums of money that an Insured pays to avoid or lessen the possibility of a claim arising. For example, if a business finds an error in its work that may give rise to a potential liability claim, it may incur expenses to correct such error before it generates a claim. These costs will be incurred in trying to reduce the potential damage or liability and, therefore, may be covered under a professional liability insurance policy. However for mitigation cost section claim to trigger there needs to be a claim payable under the policy. Once the claim is determined to be payable under the policy, the miti...
Post a Comment
Read more

AOG (Act of God) Perils Extension in CGLpolicies

      A OG (Act of God) Perils Extension in Commercial General Liability (CGL) policies refers to the inclusion of natural and unpredictable events under the coverage of the policy. AOG perils are events beyond human control, often caused by natural forces, and their inclusion can significantly broaden the scope of a standard CGL policy. These perils are not covered automatically in a CGL but have to be purchased separately as an add-on. Let us look at this aspect of CGL policies in more detail. Indian firms looking to buy a CGL policy should ideally opt for an AOG perils extension because the country is geographically prone to various natural disasters such as earthquakes, cyclones, and floods. Including AOG perils in a CGL policy will help businesses in disaster -prone areas to protect against liabilities arising from damage or injury caused during such events. AOG Perils covered in a CGL policy Earthquake Floods (including inundation, cloudburst, etc.)...
Post a Comment
Read more