Product Specification-individual-personal-accident-policy

The premiums as under shall be payable in single installment Policy Details Sum Insured: Death only cover- 10 times the yearly Income Wider Cover- 5 times the Yearly comprehensive Cover- 5 times the Yearly Income (INR 5,00,000/- Maximum) No Claim Bonus: All claims under the policy will be paid by company within 7 working days from date of acceptance of such a claim. Incase of delay in the payment, company is liable to pay interest at a rate which is lower 2% above Bank rate prevalent at the beginning of the financial year. Coverage type: The Policy provides for 3 different Options: Basic Cover: against death only Wider Cover: against death or permanent Total disablement, compensation is equivalent to the full Capital Sum Insured. Comprehensive Cover: against death, Permanent Total Disablement Permanent Partial Disablement Temporary Total Disablement. Universal Sompo Individual Personal Accident Insurance Renewal Policy: This Policy shall ordinarily be renewable for lifetime except on grounds of fraud, moral hazard or misrepresentation or Non-Cooperation. No loading on premium shall be applied on individual claims experience basis. The Premium of the Policy may be revised subject to approval from IRDA. Policy termination: Individual may cancel this policy by giving at least 15 days written notice, and if no claim has been made then premium will be refunded on short term rates for the unexpired Policy Period as per the rates detailed below. *The above rates may change. Please check the policy wordings for more details. Substitute Product: In case Individual decides to withdraw this product under which policy is issued to individual or where the children have attended maximum eligibility age under the Policy, if covered, Company shall provide individual with an option to buy a similar substitute accident insurance Policy from Company. Nomination: The Policy has provision of nomination, in absence of Individual declaring nomination at the time of proposal, then all benefits accrued under the Policy if any, shall be given to Individual legal heir/ dependants. Exclusions in Universal Sompo Personal Accident Insurance: Natural Death Consequential loss of any kind and/or legal liability Committing any breach of law with criminal intent Pregnancy including child birth, miscarriage, abortion or complication arising there from Participation in any Naval, military or air force operations HIV or related illness Venereal or sexually transmitted diseases Whilst under influence of intoxicating liquor or drugs Drug Addiction or alcoholism