Sign-in / Sign-up
This policy is designed to cover loss of life, disabilities and other named contingencies due to an accident.
Suitability
1) This policy is designed to cover loss of life, disabilities and other named contingencies due to an accident.
2) This policy can be issued to an individual and/or a family on an Individual Sum Insured basis.
3) The policy can be obtained by Individuals in the age group of 18 to 80 years. Policy is renewable for life upon payment of premium.
4) Spouse, Dependent children can also be covered under the policy by the Primary Insured. The minimum entry age under this policy is 91 days for children and 18 years for spouse. There is no maximum age restriction for the child if he / she is completely financially dependent on Parents with no source of independent income and has not established his/her own independent households.
5) The family includes Primary Insured, Spouse & Dependent Children only.
6) This policy will be issued for a period up to 3 years i.e. 1 / 2 / 3 years.
Sum Insured
Sum Insured ranges from minimum of 50,000 to maximum of 5 Crores.
Individual Policy - Sum insured will be based on Age & Annual Income.
Family Policy - Sum insured of Primary Insured / Earning Spouse will be based on their Age & Annual Income . Sum Insured for each member will be
Annual Income
Salaried Person
Age less than 60 Years - Up to 15 times of Annual Income (as appearing in Form 16/ Salary or Pension Slip/ IT acknowledgement/Audited Profit & Loss Account Statement).
Age 60 years & above - Up to 7 times of Annual Income (as appearing in Form 16/ IT acknowledgement / Salary or Pension Slip/ Audited Profit & Loss Account Statement.
Self Employed Person
Age less than 60 Years - Up to 20 times of Annual Income (as appearing in Form 16/IT acknowledgement / Audited Profit & Loss Account Statement)
Age 60 years & above - Up to 7 times of Annual Income (as appearing in Form 16/ IT acknowledgement /Audited Profit & Loss Account Statement).
Non-Earning Person - Policy can be obtained by non-earning person too (i.e. by housewife/ retired person/ student) provided the Proposer is Earning.
Proposer can be Husband / Wife/ Children/ Parent / Grand Parent.
Maximum Sum Insured will be
Housewife / Retired person - 50% of the Earning Proposer Sum Insured Eligibility subject to the maximum of 25 Lakhs.
Student - 25% of the Earning Proposer Sum Insured Eligibility subject to the maximum of 15 Lakhs.
