Untitled Document
|
Group Personal Accident Insurance
This insurance policy is ideal for
insuring a group of people against the risk of any accidental death
/ injury during the policy period.
Suitable
This insurance policy is essential for each and every
group of people who seek to indemnify themselves against personal accident
albeit
on an individual basis.
Group discounts are also offered for groups larger than 25 people
but not more than 500 since for groups larger than 500, the insurer
directly grants a heavier discount.
|
| 26-100 people |
10 percent of the total premium |
| 101-300 people |
15 percent of the total premium |
| 301-500 people |
25 percent of the total premium |
| 501-1000 people |
30 percent of the total premium |
| 1001-5000 people |
35 percent of the total premium |
| 5001-50000 people |
40 percent of the total premium |
| > 50000 people |
50 percent of the total premium |
Risks covered
This
insurance policy provides compensation to any individual of the
insured group in event of any death / injury during the
policy period.
Compensation offered
In any accidental injury being the sole and direct
cause (within 12 calendar months) results in
|
Death
|
100 percent of Sum Insured |
| Permanent total disability |
100 percent of Sum Insured |
| Loss of two limbs / two eyes or one eye
and one limb |
100 percent of Sum Insured |
| Loss of one limb or one eye |
50 percent of Sum Insured |
| Permanent partial disability |
Varying percentage of Sum Insured as per policy |
| Temporary total disability |
1 percent of Sum Insured payable on a weekly basis, subject to
a maximum of Rs.3,000/- |
These benefits are essentially the same as those offered by Personal
Accident policies without the cumulative bonus or education fund |
Exclusions
This insurance policy will never pay
any claims arising from
- Compensation for more than one clause for the same period of
disability
- Any payment after admission of a claim for 50 percent
/ 100 percent of Sum Insured
- Any claim in the
period of insurance exceeding the Capital Sum Insured
- Suicide, suicide
attempt, venereal disease, criminal breach of law, influence of
alcohol / drugs
- Pregnancy
- War or nuclear perils
|
|
|
