Bharti AXA Personal Accident-bharti-axa-personal-accident

Overview Bharati AXA General Insurance Company Limited is a joint collaboration between a leading Indian business group Bharati Enterprises and AXA, a global leader in insurance sector, financial protection and wealth management. The company marked its presence from 2008 and it is the first general insurance company to receive dual certification of ISO 9001:2008 and ISO 27001:2005 within the first year of its operations in India and thereafter the certification was renewed for another 2 years. The vision of the company is “to be the most preferred general insurance company for customers, employees, shareholders, business partners and the society. Bharati AXAs comprehensive and inventive insurance plans are such that it meets the requirements of an individual as well as the organizations. Various products ranging from the basic insurance plans like health insurance plans, travel insurance plans, home insurance plans to business/ corporate solutions/ plans, SME solutions/ plans, motor insurance plans, two wheeler plans and a lot more. Here we will discuss about the Home Insurance Plans for this company. Personal Accident Plans plugs an important role in the insurance portfolio of an individual. Firstly, it provides a tremendous financial support to the policy holder if he/she is disabled after an accident resulting to permanent total disability, temporary total disability and even an unfortunate death. Secondly, the enormity or the degree of injuries doesnt matter, minor injuries are also usually cover dune the plan. Bharati AXA Personal Accident insurance Plans named as SmartIndividual Plan have all encompassing plans which acts as a cushion to cover the risks associated with an accident. Now we will see the coverages under the SmartIndividual Plan. The following are the coverages under the Smart Individual Plan. Accidental Death Plan which includes transportation of mortal remains, funeral expenses and education grant for children. Permanent Total Disablement Plan. Permanent partial Disablement Plan. Temporary Total Disablement Plan. Hospital Daily cash Allowance Plan. Accidental medical expenses Plan. Double Indemnity death or Permanent Total Disablement while travelling as a passenger in public transport. Legal Expenses. Lets look at the scope of the above coverages The company will pay the insured person, his/her nominees or legal representatives if the insured person sustains bodily injury resulting solely and directly due to accident caused by external , violent and visible means. If the injury takes place within 12 calender months and the sole and direct reason is death of the insured /insured persons, the capital sum insured mentioned in the schedule. If the injury takes place within 12 calender months and the sole and direct cause of the total and irrecoverable loss of the following: Both eye sights or of the actual loss of physical separation of two entire hands or entire two feet , or of one entire hand and one entire foot or loss of one eye sight or one entire hand or one entire foot as mentioned in the schedule. Use of two hands or two feet or of one hand and one foot , or loss of one eye sight or loss of use of one hand and one foot as mentioned in the schedule. If the injury takes place within 12 calender months and the sole and direct cause of the total and irrecoverable loss of the following: Loss of one eye sight or of the actual loss of physical separation of one entire hand or of one or of one entire foot 50% of Capital Sum Insured as mentioned in the schedule. Use of a hand or a foot without physical separation , 50% of the capital sum insured as mentioned in the schedule. If the injury takes place resulting in immediately permanently , totally and absolutely and therefore disable the Insured person from engaging in any employment or occupation then a lump sum amount is given as stated in the schedule. If the injury takes place within 12 calender months of its occurrence be the sole and direct cause of the total and/ or partial and irrecoverable loss of use of the actual loss by physical separation of the following then the percentage of the Capital Sum Insured. If such injury is the sole and direct cause of temporary total disablement, then as long as the insured person is disabled from engaging in any employment or occupation, a sum at the rate of 1% of the capital sum insured as mentioned in the schedule. However the same will not exceed Rs 10000/- per week under all plans. In case of death of the insured person due to bodily injury resulting solely and directly from due to accident caused by external , violent and visible means, the company will pay a lump sum allowance of 1% of the capital sum insured for transferring the insured persons dead body to the residence. Funeral expenses: The company will provide a payment for a fixed amount as mentioned in the schedule for funeral expenses of the insured person. The company will also provide an Educational Grant of Rs 10000/- is also given if the insured has one dependent child upto age of 23 years and is pursuing studies. And if the insured has more than one dependent child upto age of 23 years and is pursuing studies, then the amount will be Rs 20000/-. Legal expenses: The legal costs and expenses are also reimbursed which is incurred by the insured person or his/her legal representatives for claims for compensation of death or disablement. However, the same should be incurred with the consent of the company. Value Added Benefits under the plan: The following are the value added benefits under the plan: Hospital Daily cash Allowance: This benefit compensates towards daily payment for the number of days the insured person is hospitalized after treatment of bodily injury caused by accidental, external , violent and visible means. Accident Medical Expenses: Under this plan, reimbursement of actual medical expenses is reimbursed. Double indemnity for Death or Permanent Total Liability: An unique plan with 200% of the sum insured is covered in case of death or permanent total disablement.