IPPB Accidental Insurance: Group Accident Guard Policy (10 Lakhs Accidental Insurance with only Rs. 399 Premium per year.)
Postal Department of India is launching 10 Lakhs Accidental Insurance with only Rs. 399 Premium per year. India Post Accidental Insurance should buy through Postal Payment Bank. The Postal Payment Bank Account holders only can buy the Accidental Insurance by paying Rs.399 yearly.
Group Accident Guard (Group Accident Insurance):
Life is full of surprises, good as well as bad ones. Accidents are not planned but accidental expenses can be planned. No one is completely safe on the roads, no matter how much care you take. While you can’t always avoid the accidents, but you can prepare your family’s future in advance from expenses or any disability occurring out of the accident.
An accident has a long-lasting impact not only on the person involved but also on his/her family members. The after effects of accident can be death, disability, financial loss, uncertain future of children whose parent/s had accident, expenses out of medical emergencies etc.
A group personal accident insurance is an insurance plan that provides accident coverage for a large number of people, collectively referred to as a group. Group Accident Insurance provides coverage in case of unforeseen events, there are several other benefits that come with group personal accident insurance. Purchasing a group accidental insurance is the best option for keeping unanticipated expenses under check.
Benefits of Group Accident Policy:
- Accidental Death: It covers Death due to Accident within 365 days of the accident date. Coverage limit is 100% of Sum Insured.
- Accidental Dismemberment and Paralysis: It covers Dismemberment which is permanent in nature & occurs within 365 days of the accident Date. Paralysis is the loss of the ability to move (and sometimes to feel anything) in part or most of the body, as a result of an Injury.
- Education Benefit: Entire sum insured is payable in case of accidental death / permanent total disability. Benefit payable for eligible child who is full time student in any Institution.
- Permanent Total Disability: It covers Total Disability which is permanent in nature & occurs within 365 days of the accident Date. Coverage limit is 100% of Sum Insured.
- Accidental Medical Expenses in-patient department (IPD): It Covers hospitalization expenses due to accident for period more than 24 hours.
- In Hospital Daily Cash: Provides per day benefit for the period of Hospitalization due to Accident.
- Family Transportation Benefits: Expenses incurred by any immediate family member of the insured on making travel arrangements to meet the insured person who is hospitalized and situated more than 150-kilo meters from his residence.
- Permanent Partial Disability: It covers Partial Disability which is permanent in nature & occurs within 365 days of the accident Date. Coverage limit is as per % specified in policy document.
- Accidental Medical Expenses Outpatient Department (OPD): It covers Out Patient expenses due to accident in which the Insured Person visits a clinic/ hospital or associated facility like a consultation room for diagnosis and treatment based on the advice of a Medical Practitioner.
- Last Rites Benefit: If we have accepted a claim under Accidental Death benefit, then we will in addition pay fixed amount towards funeral expenses
|
Accidental Death |
1000000 |
|
Permanent Total
Disability |
1000000 |
|
Permanent Partial
Disability |
1000000 |
|
Accidental
Dismemberment and Paralysis |
1000000 |
|
Accidental
Medical Expenses IPD |
Fixed upto Rs 60,000 or actual claims whichever is lower |
|
Accidental
Medical Expenses OPD |
Fixed upto Rs 30,000 or actual claims whichever is lower |
|
Education Benefit |
10% of SI or Rs 100000 or Actual whichever is lower for maximum 2
eligible children |
|
In-Hospital Daily
Cash |
Rs 1000 per day upto 10days (1day deducible) |
|
Family
Transportation Benefits |
Rs 25000 or actuals whichever is lower |
|
Last Rites
Benefit |
Rs 5000 or actuals whichever is lower |
|
Post Tax Premium |
399 |
Features of Group Accident Insurance:
- Entry age 18-65 Years
- Policy tenure 1 year
- Policy offered to IPPB Customers Only
How to get IPPB ( Indian Postal Payment Bank ) Account:
The Regular Savings Account can be opened at the bank’s access points and your doorstep. This account can be used to keep funds secure, withdraw cash, deposit money and perform easy remittances, besides a host of other benefits. In addition, interest can be earned on the money kept in this account and the cash withdrawals allowed in this account are unlimited.
Key Account Features and Benefits:
- Banking at your convenience
- Instant and paperless account opening using Aadhaar as per the applicable rules
- Easy and convenient Non-eKYC account opening
- RuPay Virtual Debit Card for online transactions
- No monthly average balance required to be maintained
- The account can be opened with zero balance
- Free monthly e-statement
- Mini statement through SMS
- Simplified banking services through QR card
- Instant fund transfer through IMPS
- Easy bill payment and recharges
- Can be linked to POSA (Post Office Savings Account)
- Send and receive money using BHIM UPI
What Does Group Accident Insurance Not Cover?
- Suicide
- Military services or operations
- War
- Illegal act
- Bacterial Infections
- Disease
- AIDS
- Dangerous sports etc.
