Objective

This is accidental policy, unlike basic accidental policies, covers accident inpatient hospitalisation, broken bones, transportation of imported machine, purchase of blood, modification of residence or vehicle in case of total permanent disability. It aims at providing a complete insurance against monetary loss due to an accident.

Suited for

This policy is suitable for anyone up to 69 years of age. Every individual must have an accidental cover. It offers a cover up to 5 crores. Though the premiums are slightly higher due to wide coverage of the policy, they are still affordable and economical.

What does it do?

It claims to immune against financial losses incurred due to accidental death or disablement, whether partial or total. Unlike basic accidental policies, accidental inpatient hospitalisation expenses are covered. It also covers ambulance cost to transfer insured person from site of accident to hospital or from hospital to home, family transportation to hospital and transportation of mortal remains to home or burial or cremation ground. It allows a certain lump sum amount to support the education cost of children in case of permanent total disability or unfortunate demise of insured person. Education funding is allowed for maximum two children. Additionally it covers fractured bones, transportation of imported machines, purchase of blood and modification of residence or vehicle if claim was accepted for permanent total disablement. Each benefit is capped at specific percentage of sum insured and will be paid depending on the nature and severity of condition.

Pros

Policyholder enjoys a cumulative bonus of 5 per cent for every claim-free year up to maximum of 50 per cent of basic sum insured.
Family discount of 10 per cent is applicable if two or more members are covered.

Cons

Cumulative bonus reduces to zero in the following year when claim has been made.
Maximum allowance under each benefit is capped.
It does not provide any tax relief.

Our View

Rise in accident cases has increased the need and importance of personal accident covers. This is a worthy plan as it also covers expenses related to accidental death or disability. Though there is ceiling on each benefit, it reduces the financial burden to a great extent. Moreover, it is advised to furnish correct and true occupation details to avoid trouble at the time of making claim, just in case.

Eligibility

Entry Age (years)

Minimum

18; 3 months for children

Maximum

69

Maximum Policy Renewal Age (years)

70

Coverage Type

Individual

Policy Term (years)

1

Sum Insured (Rs)

Maximum

5 crore

Minimum

5 lakh

Tax Benefit

Not Available

Discount

Family discount of 10% is applicable if 2 or more family members included

No Claim Bonus

5% increase in Sum Insured would be applicable for every claim free years till it reaches to a maximum of 50% of initial Sum Insured. a cumulative bonus has been applied and a claim is made, then in the
subsequent Policy Year the cumulative bonus will automatically reduce to zero in
that following Policy Year. It is applicable only to Accidental death, Permanent Total Disability and Permanent Partial Disability Sum Insured.

Policy Termination

Insurance company may terminate the policy by giving a written notice of 30 days. Policyholder is allowed to terminate the policy at anytime by giving a written notice. In case no claim has been made under the policy, percentage of premium will be refunded

Customer Service

Address

Apollo Munich Health Insurance Company Limited
Corporate Office: 10th floor, Tower B, Building No. 10, DLF Cyber City, Phase -II, Gurgaon, Haryana-122002
Registered Office: Apollo Hospital Complex, Jubilee Hills, Hyderabad - 500033

Mail to

customerservice@apollomunichinsurance.com

Call to

1800-102-0333

Network Hospitals

Http://www.apollomunichinsurance.com/our-hospital-network.aspx

Scope of Cover

Accidental Death (AD)

Covered; pays Sum Insured

Permanent Total Disablement [PTD]

Predetremined percentage of Sum insured depending on nature of permanent total disablement

Permanent Partial Disablement [PPD]

Predetremined percentage of Sum insured depending on nature of permanent partial disablement

Temporary Total Disablement

weekly benefit upto maximum of 100 weeks. 1% of the Sum Insured for each week; maximum Rs 15 lakh

Emergency Ambulance

Up to Rs 2,000

Family Transportation to hospital (atleast 200 kms away) where insured is admitted

1% of AD Sum Insured; max Rs. 100000 . Restricted to one immediate member

Transportation of Mortal Remains

2 % of AD Sum Insured; maximum Rs. 10,000

Education Fund

allowed upto 2 children. 10% of Accidental Death Sum Insured upto a maximum of Rs 20000

Temporary Total Disablement

100% of AD Sum Insured; max Rs. 15,00,000

Accident Medical Expenses

Covered

Broken Bones

20 % of AD Sum Insured; max Rs.1,00,000

Transportation of Imported Medicine

5 % of AD Sum Insured; max Rs 20,000

Purchase of Blood

5 % of AD Sum Insured; max Rs 10,000