Terms of Service
Group Student, Personal Accident Insurance
This policy is basically prepared to pay some compensation to a person who suffers bodily injury due to an accident which is covered, violent and visible. Therefore, injury or death due to illness or disease is not covered under this policy.
A group policy can be issued to any firm, company, association, registered or unincorporated, club comprising all the members.
Allowances are based on the group size of the group at the beginning of the policy.
Names of members leaving or increasing may be increased or decreased during the validity of the policy.
This cover is preferably available on a 24 hour coverage basis.
We can offer you more discounts if you want to restrict your employees to on-duty or only off-duty cover.
Other benefits like expenses for ambulance, loss of clothing, loss of employment, transportation of dead body are all admissible but upto a limit due to accident.
Eligible for receiving Education Fund for Dependent Child in case of death or permanent disability
What is covered in the policy
The following types of coverage are provided under Personal Accident Policy:-
Table D
Death cover in which 100% of the sum assured is payable.
Coverage under Table C Table D
Loss of two limbs / both eyes / one arm and one eye for which 100% of the capital sum insured is payable.
Loss of an arm or an eye for which 50% of the sum insured is payable.
Permanent establishment other than mentioned above Paralysis due to accident, in which 100% of sum assured is payable.
Coverage under Table B Table C
Permanent semi-disability means that a part of the body is permanently disabled due to an accident,
Eg: Total and irreparable loss of finger due to accident. In such cases, a percentage of capital sum insured is paid as specified in the policy.
Coverage under Table A Table B
Temporary Total Disability means an accident under which the insured person is temporarily disabled while working,
Eg: In cases of leg fracture, maximum 1% of Sum Assured will be paid every week until the insured recovers (maximum payout period 100 weeks).
An insured person can work in any one of these departments due to any one accident.
The policy basically also covers the expenses incurred for transportation of the deceased from the accident to the residence, 2% of the sum assured or Rs.2,500 whichever is less. Education fund is payable for children attending dependent schools.
What the policy does not cover
Self-harm, suicide, insanity or mental illness
Side effects of alcohol or drug addiction
Death by poisoning itself or in general
A criminal law mode
Nuclear Group of War and Crisis