Personal Accident Insurance policy provides your beneficiary with a death benefit in the unfortunate event of your
accidental death and It also provides you with cover against Permanent Total Disablement (PTD) on account of and daccident
- The Personal accident insurance covers , the following benefits:
- Cover against Accidental Death or Permanent Total Disablement (PTD) on account of an Accident.
- Optional Cover against Accidental Hospitalisation Expenses and Accidental Hospital Daily Allowance
Covers different types of accidents like road, rail accidents, accidents due to natural calamities and arising out of terrorism/ terrorist acts
- No health check up required
- The policy operates worldwide and is a 24 hours cover.
- Different coverages are available ranging from a restricted cover of Death only, to a comprehensive cover covering death, permanent disablements and temporary total disablements.
- Family Package cover is available to Individuals under Personal Accident Policy whereby the proposer, spouse and dependent children can be covered under a single policy with a 10% discount in premium.
- Group personal accident policies are also available for specified groups with a discount in premium depending upon the size of the group.
The selected Individual PA policies can be bought on line using credit, debit cards as well as net banking.
Any adult residing in India can take the policy covering himself / herself and dependent family members between the ages of 5 and 70yrs
The detailed coverage are mentioned in Salient features section.
In Individual Personal Accident policy, facility of cumulative bonus is given whereby the capital sum insured is increased by 5% every year on claim free renewals subject to a maximum of 50%. This cumulative bonus is not available for death only cover. The various coverages are explained as below depending on the type of policy purchased.
1. Accidental Death:
It provides for payment of compensation on the insured person’s death caused by bodily injury arising out of accidental, violent, external and visible means and resulting in death within 12 (twelve) calendar months of occurrence of the accidental injury.
2. Permanent Total Disablement:
It provides for payment of compensation for bodily injury caused by accidental, violent, external and visible means resulting in Permanent Total Disablement resulting from an accident.
3. Permanent Partial Disablement:
It provides for payment of compensation for bodily injury caused by accidental, violent, external and visible means resulting in Permanent Partial Disablement within 12 (twelve) calendar months of occurrence of such injury.
4. Temporary Total Disablement:
It provides for payment of compensation for bodily injury caused by accidental, violent, external and visible means resulting in Temporary Total Disablement. The compensation shall be payable for the temporary period for which the Insured Person suffers from total disablement due to accidental bodily injury.
Intentional self injury, suicide or attempted suicide
• Under influence of intoxicating liquor or drugs
• Racing on wheel, Hunting Big game shooting, Mountaineering, engaged in winter sports, skiing & Ice Hockey.
• Breach of law with criminal intent.
Overview House Holder Insurance
It is a packaged policy which provides a range of covers that are required for a common householder. Property valuation is done by multiplying the built up area of the property with the cost of construction per square feet.
Insured has to get his household contents as per their market value and Electrical Items on replacement value. Even if you have rented your property you can cover the contents of the house against fire & allied perils, Burglary and/or housebreaking, hold-up, mechanical and electrical breakdown of appliance etc. Moreover if you are also looking to cover the structure of your building (home), we can provide you an additional policy of Standard Fire and Special Perils policy covering your building structure. This policy will additionally cover your building structure against loss due to fire and allied perils.
You have the option of taking a Standard Fire and Special Perils policy if you want to insure the property while it is under construction. Once the construction is complete, you may opt for householder Policy to cover your content of the house against fire & allied perils, Burglary and/or housebreaking, hold-up, mechanical and electrical breakdown of appliance etc with addition of host of value added features
Your possessions as well as that of family members permanently residing with you are covered. In addition, you can declare possessions belonging to guests at home as ‘goods held in trust,’ and purchase insurance for them The proposer is entitled to 15% discount for opting more than four section and 20% discount on premium for opting more than six section respectively, excluding Tariff Sections premium i.e. Fire & Allied Perils Section and Public Liability & Workman Compensation Risks Section, but for Section discount all Sections (Tariff & Non-Tariff sections) is considered No health check up required
The householder policies can be bought on line using credit, debit cards as well as net banking
There are Ten Sections under Householder’s Package Policy :
Section I : Fire & Allied Perils
a) For House Building.
b) For t household contents.
Section – II : Burglary & Housebreaking including larceny or theft (Contents only)
Section – III : All Risk against valuable items.
Section – IV : Plate Glass Cover ( fixed )
Section – V : Breakdown of domestic appliance.
Section – VI : Television Sets (All Risk ) cover
Section – VII : Pedal Cycle (All Risks) cover.
Section – VIII : Baggage Insurance
Section – IX : Personal Accident Insurance
Section – X : Public Liability & Workman Compensation Risks.
Only Section I-B (Fire & Allied Perils) cover against household contents is compulsory. In addition to this the proposer has to opt any two more section from remaining Nine Sections.
- The Company shall not be liable in respect of-
- Excess applicable in each section.
- Loss or damage due to terrorism activities unless otherwise specifically included..
- Loss or damage caused by depreciation or wear and tear and consequential losses.
- Loss ,Damage, liability or expenses whether direct or indirect occasioned by happening through or arising from any consequence of war, Invasion, act of foreign enemy, hostilities (whether war be declared or not) , Civil War, Rebellion, Revolution, Insurrection warlike operation , military or usurped power or Civil commotion or loot or pillage in connection therein.
- Accident arising due to carrying of illegal activity and or any kind of unlawful act. .Loss or damage or liability arising out of violation of any Rules and Regulations of the Govt. or Statutory authorities.
- Loss or damage directly or indirectly caused by or arising from or inconsequence of or contributed to by nuclear weapon materials.
- This insurance does not cover loss or damage directly or indirectly caused by or arising from or in consequence of or contributed to by ionizing radiations or contamination by radio activity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel or from any nuclear weapons, materials. For the purpose of this exclusion only the combustion shall include any self sustaining process of nuclear fusion
- ShopKeeper Insurance
The Shopkeeper’s Insurance is a combination of eleven sections covering risks faced by shopkeepers/traders. The policy covers building, contents, money, pedal cycle, plate glass, signs, baggage, personal accident, fidelity guarantee, liability and business interruption. While Section IB and II are compulsory, the client should opt for two more from the other sections The shop Owners of Retail chain, Shopping Arcades & Complex, Shops/Showrooms, Dealers where the Sum Insured of the building and contents together does not exceed Rs. 2 crores may buy the policy
Key Benefit for Shopkeeper Insurance
The policy covers various sections related to shop owners risks more detailed in Coverage section.
The policy covers various sections related to shop owners risks more detailed in Coverage section.
Section 1(b) and II are compulsory. In addition to the compulsory section two more of the remaining sections are to be opted
Sec Description of Cover Description of Risk Rate per mille
1A Fire and Allied Perils Building(Excess–As applicable to Standard
Fire Policies) 1.25
1B Fire and Allied Perils Contents–(i)Nonhazardous goods
(ii)Hazardous goods 2.00
II Burglary, House- Breaking,
Larceny and theft All Contents in IB above
(Sum Insured should be identical with IB) 2.50
III Money Insurance In Transit(notexceedingRs.150000/-per any
One carrying) between two places within a radiusof24K.Msfrominsured’spremises 2.50
ec Description of Cover Description of Risk Ratepermille
In Safe / Steel Cupboard/ Cash Box kept
Under lock & key(2%oftheSumInsured underSectionIorRs.150000/-which ever is less)
In Counter(1%of the Sum Insuredunder
SectionIor Rs.150000/-whichever is less) 2.50
IV Pedal Cycle Loss due to fire, burglary and external accidental means
V Plate Glass Accidental Breakage
(Sum Insured 10%oftheTotalSumInsured underSectionIorRs.100000/-which ever is less)
VI Neon Sign/ Glow Sign Loss due to fire and allied perils, theft,
malicious damage and other external accidental means
(SumInsured2%oftheTotalSumInsured under SectionIorRs.20000whicheverisless)
VII Baggage Insurance (in
Connection with the trade) Baggage accompanying the insured / his
Personal Baggage of the insured/partners/
VII I Personal Accident Personal Accident Cover as per Personal
Accident Guidelines Table and Cover Options AsperGuiderate
Guarantee Monetory Loss to the insured due to the
In fidelity of salaried employee soft he insured (SumInsured10%oftheTotalSumInsured underSectionIorRs.100000/-which ever is less)
A Liability Insurance-
Public Liability Third Party Liability including property
Damage caused due to the fault and negligence of family members of insured(Maximum Sum Insured 5%oftheTotalSumInsuredunderSectionIor – Rs.50000/-whichever is less)Coverage –As per Public Liability Act
X- B Workmen Compensation Drivers, Servants, GateKeepers, Watchman, Gardner scan be included–Accident shappen
During the employment of the workers Sum
Insured–Total Annual Wages paid Coverage
–As per WC Act As per Guidelines
XI Business Interruption Sum Insured must be equal to Sum Insured
Discounts : If 4 or more sections are opted discount of 15 % is allowed. For 6 or more sections discount of 25% will be allowed.
The policy cannot be issued to cover risks where the applicable fire rate (Section I – Shops) is
more than 1.78 %o (for contents) Terrorism Loading – 0.15 %o
Description of Cover
Fire and Allied Perils
House- Breaking, larceny and theft
• Loss of or damage to live stock motor vehicles and pedal cycles
• Loss of/damage to money, securities ,stamps ,bullion ,deeds, bonds, bills of exchange, promissory notes, stock and share certificates, business books, manuscripts, documents or any kind unset precious stones and jewellery and valuables unless specifically declared
• Loss/damage where any employee of the insured or member of the insured’s family is concerned as principal or accessory
• Loss of/damage to livestock, motor vehicles and pedal cycles
• Loss of/damage to money securities stamps, bullion ,deeds, bonds, bills of exchange, promissory notes, stock and share certificates, business books ,manuscripts, documents or any kind unset precious stones and jewellery and valuables unless specifically declared
• Loss/damage where any employee of the insured or member of the insured’s family is concerned as principal or accessory or arising from fraud/dishonesty committed by employees carrying money
• Shortage due to errors and omissions
• Loss of money from safe following the use of the its original/duplicate key unless the key has been obtained by assault or violence
• Loss/damage while the cycle is being used for hire or reward or outside India
• Overloading strain or mechanical breakdown
• Theft of accessories if not accompanied by stealing of the cycle
• Loss/damage while being used for racing or pace making
• Breakage/damage during removal, alterations, repairs on the premises
• Breakage of lettering only unaccompanied by breakage of glass
• Breakage of frames unless specifically declared
• Disfiguration/scratching/damage of glass other than fracture which extends through the entire thickness of glass
• Embossed, silvered, lettered, ornamental curved or any glass whatsoever unless specifically declared.
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