Types of policies available under this category
What are the perils (Cause of Loss) covered
- Accidental Death
- Permanent Total Disablement (PTD)
- Permanent Partial Disablement (PPD)
What perils can be covered by paying extra premium
- Hospitalization expenses due to accident (In-patient) - Minimum 24 hours hospitalization is a must
- Temporary total disablement (TTD) also called as Weekly compensation
- Medical extension i.e Hospital expenses due to Accident
- Out patient treatment due to accident
- Worldwide extension
- 24 hours cover
What are the main Exclusions?
- Intentional self injury, suicide or attempted suicide, Death or disablement resulting from child birth and pregnancy Accident while the insured is under the influence of intoxicating liquor or drugs War and allied perils.
Types of discounts on premium available under this category
- Some Insurance companies give discounts on buying Long Term Policies
Basis of Sum Insured- Recommendations
- 10 times of Annual Income
Excess and other deductibles during claim
- Please refer policy wordings
- Claims procedure
Other relevant information
- Aproximately 60 times of your monthly income can be your maximum Sum Insured
- Always ask for fully loaded cover with all add on covers
- Policy wordings differ from Insurance Company to Company
- Premium varies from Rs 90 to Rs 165 per person per year for a Sum Insured of Rs 1 Lakh
Risk Class I:
Person engaged in administrative or managing functions, accountant, doctor, lawyer, architect, consulting
engineer, teacher, and banker or primarily engaged in a similar occupation
Risk Class II:
Person engaged in manual labour, garage or motor mechanic, machine operator, paid driver of a car, a truck, a
lorry or other heavy vehicles, cash carrying employee, wood working machinist or a builder – contractor and
engineer in superintending functions, veterinary doctor, or engaged in a similar occupation.
Risk Class III:
Person working in underground mines, in explosive magazines or in electrical installations with high tension
supply, or insured is a jockey, circus personnel, engaged in racing in wheels or horseback, big game hunting,
mountaineering, winter sports, skiing, ice hockey, river rafting, polo, or in similar activity or occupation.
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