Objective

This is a standalone personal accident policy that covers accidental death, disability and other conditions to help family members and insured persons to cope up with the situation of financial instability caused as a result of accidental death or disability.

Suited for

This policy can be bought as an individual or family package cover including spouse, dependent child and dependent parents. Sum Insured for spouse and dependents will be limited to 50% and 25% respectively. This policy is a must for those engaged in high risk job profiles.

What does it do?

Its working is similar to any other personal accident policy that pays a lumpsum equal to the sum insured to the family members in case of death or permanent total disability of insured member caused due to an accident. If insured member becomes permanent partially disable, the insurance benefit to the insured person will vary depending on the type and nature of disability. It pays a weekly insurance benefit in event of temporary total disability.
Apart from direct benefits, this policy ensures that inopportune events such as death or permanent total disability do not hinder insured's dependent children's education. It also pays a benefit in case of loss of employment as a result of accidental permanent disability. Transportation expenses , ambulance charges and out patient medical expenses for treatment following an accident are covered as well.
The policy also provides an option to the policyholder to attach additional benefits to the policy by payment of an additional premium. Wheelchairs, crutches, artificial limbs and other external supporting items for use in case of disability can be added to the policy. Similarly other two benefits that can be included in the policy are cost of travel of insured member from place of accident to residence and hospitalisation expenses as a result of an accident.

Pros

It provides financial assistance for continuation of deceased policyholder's children education.
It offers optional additional benefits as well.

Our View

This is a comprehensive accidental policy offering a broad coverage. Those looking for a personal accident policy may consider it as it offers to cover various other related expenses as well. Additional benefits can also be added on payment of a nominal extra premium if you wish to extend the scope of coverage.

Eligibility

Entry Age (years)

Minimum

18; 5 for children

Maximum

70; 18 for children

Coverage Type

Individual/ Family package

Policy Term (years)

1 or 2 or 3

Discount

10% discount on premium for 3 or more family members under the same policy.
Long Term policy discount of 10% for 2 year policy and 15% for 3 year policy term

No Claim Bonus

5% no claim bonus for every claim free renewal till it reaches 50% of initial sum insured

Free look Period

15 days

Grace Period for Policy Renewal

30 days

Policy Termination

Either of the parties may terminate this policy by giving a 15 days notice. The insurer would pay proportionate premiums if no claim has been made.

Customer Service

Address

L&T General Insurance Company Limited
601-602, 6th Floor, Trade Centre,
Bandra-Kurla Complex, Bandra (East),
Mumbai - 400051

Mail to

help@ltinsurance.com

Call to

1800-209-5846

SMS

'LTI' to 5607058

Network Hospitals

Http://110.234.8.38/ltweb/SearchNspWithoutLogin.aspx

Exclusions and Waiting Period

Pre-existing disability

not covered

Scope Of Cover

Death benefit

pays 100% of sum insured

Permanent total disability

Pays 100% of sum insured

Permanent Partial Disability

Cover varies from 1% to 50% of sum insured

Temporary Total Disability

pays 1% of sum insured per week subject to maximum of Rs 6000 per week for a maximum period of 100 weeks under this policy in respect of any one injury

Education benefit (for dependent child upto 23 years of age)

10% of sum insured upto maximum of Rs 12500 in case of one child or 10% of sum insured upto maximum of Rs 25000 for all children in case of more than one child

Loss of employment benefit

pays lower of 1% of sum insured or Rs 15000 in event of loss of employment as a result of loss of limbs/eyes or permanent total or partial disablement due to an accident

Transportation expense

covered upto 2% of the sum insured or Rs 2500 whichever is lower

Ambulance charges

covered upto Rs 1000

Out patient medical expenses

reimbursement up to 1000/- per accident or a maximum of 2500 per policy, for medical expenses incurred for treatment following an accident

Additional benefit (requires extra premium)

Cost of supporting items

pays lower of 2% of sum insured or actual expenses or Rs 10000 for use of wheelchair, artificial limbs, crunches etc.

Cost of travel

pays lower of 2% of sum insured or actual expenses or Rs 10000 for carrying insured member from place of accident to home

Medical extension benefit

pays a certain proportion of medical costs spent during hospitalisation as a result of accident

Exclusions and Waiting Period

Pre-existing disability

not covered