Objective

This is a personal accident policy that aims to cover accidental death and disablement caused during the policy period.

Suited for

It can be bought as an individual cover or you may also include your family members under the same policy.

What does it do?

Like any other personal accident policy, this policy pays in case of accidental death or disability. It comes with two options, (1) Accidental Death & Dismemberment, (2) Accidental Death and Dismemberment accompanied by Permanent Total Loss of Use.
A person can select either of the two options on the basis of coverage required. Option 2 offers wider insurance.
Both options of the policy offer a weekly cash benefit in case of an accident, but not in the family cover. Another useful benefit is education allowance for continuation of child's education on death of the parent. Insurance company will also extend financial support to modify house or vehicle of the policyholder in case of disability

Pros

It offers an insurance cover up to Rs 1 crore.

Cons

There is no taxation benefit.

Our View

A standalone personal accident policy which is a must for anyone carrying accidental risk. Accidental risk can arise from a road accident or a job that requires performing dangerous tasks. Education allowance and house or vehicle modification allowance are valuable benefits. It also offers a huge cover of up to Rs 1 crore thus useful for those looking for a huge accidental cover. This policy is recommended.

Eligibility

Entry Age (years)

Minimum

18; 6 months for child

Maximum

65; 18 years for child (23 years in case of higher education)

Coverage Type

Individual/ family

Policy Term (years)

1

Sum Insured (Rs)

Maximum

1 crore

Minimum

500000

No Claim Bonus

Sum insured increases by 5% for each claim free year upto 5 years

Pre Policy Medical Check Up

Not required

Customer Service

Address

Registered Office:TATA AIG Insurance, 9th Floor, Piramal Towers, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400 01

Mail to

customersupport@tata-aig.com

Call to

1800-266-7780

SMS

TAG to 5616181

Scope of Cover

Accidental death

pays accidental benefit equal to sum insured

Accidental Disablement

pays an amount equal to as agreed upon in the policy document

Accidental weekly benefit (not available with family option)

available in multiples of Rs 1000 depending on the opted sum insured

Additional benefits (applicable only with Family Option)

Education allowance

10% of sum insured is paid towards child education in case of accidental death

Repatriation of remains

pays an amount upto Rs 5000 for transportation of insured person's remains

Modification allowance

pays upto maximum of Rs 1 lakh towards the cost of modifying house or vehicle in case of Permanent Total disability or Dismemberment

Double Dismemberment benefit for children

children who are automatically insured, Dismemberment benefit doubles

Family transportation (if hospital is 150 kms away from residence)

reimburses actual expenses incurred by immediate family member to reach insured person upto maximum of Rs 50000

Exclusions and Waiting Period

Pre-existing disability

not covered