Personal Accident Plan
Personal Accident Plan covers a host of risks which is associated with an unforeseen circumstance like accidents. Accidents not only change an individuals life but members who are associated with the victim also get affected very badly. Hence one should always look for a complete plan which will not only take care of one own self but also will look after the family members and the associated expenses. The coverage or the specified events under the plan can be summarized as follows:
Accidental Death Plan.
Permanent Total Disability Plan.
Permanent Partial Disability Plan.
Temporary Total Disability Plan.
Lets look into the above plans individually:
Accidental Death Plan : In case of Death due to bodily injury which is caused due to Accident solely and directly, 100% of the sum assured is paid.
Permanent Total Disability Plan : This plan will cover upto 100% of principal sum insured in case of Permanent Total Disability. 100% of Sum Insured is paid in the event of loss of two limbs or two eye sights or one limb and one eye.50% of sum insured is paid in case of loss of one limb and one eye.
Under this plan will mean disablement of the Insured Person in performing at least one of the below mentioned actions:
Unable to Work: This means that the insured person will not be able to work ever in his life time in any occupation or employment.
Loss of use of limbs or sight: This means that the insured person suffers from total and irrecoverable loss of the use of two limbs OR both eye sight OR the use of one limb and the sight of one eye.
Loss of independent living: This will include when the insured person is unable to perform three or more tasks independently. The tasks can be classified as :
Permanent Partial Disability Plan : A certain percentage of sum insured is paid under Permanent Partial Disability plan.
Temporary Total Disability Plan: 1% of Sum Insured will be paid per week in case to total disability, sum not exceeding Rs 5000/- per week for a maximum of 100 weeks.
Add On Coverage under the plan
The plan has also some added benefits:
Carriage of Mortal Remains
A lumpsum of 2% of capital sum insured will be paid for transportation in case of accidental death outside the residence ( subject to maximum of Rs 2500).
Medical Expenses Benefit
The plan can be extended to cover the medical expenses upon payment of extra premium. Benefit upto 40% of the compensation paid in settlement of a valid claim under the plan or 20% of the relevant sum insured, whichever is lesser.
Of duty and On duty Cover : This plan can be given to employees for a reduced premium.
Eligibility of the plan
Individuals aged between 5 years to 70 years are eligible to apply for this plan. This plan can be issued to group of persons. It can also be availed by employers for their employees or by any Institution/ Society/ Club for their members.
ReliancePersonal Accident Insurance- FAQs
1. How to pay a premium? What are the modes of payment available?
The Reliance General Insurance Company offers 2 modes of premium payment namely:
Cash payment at the branch
For the online payment mode, the policyholder can pay via;
Debit Card using ATM PIN
Debit card using 3 D secure
2. How can I check policy status for Reliance personal accident insurance?
You can check the policy status online, with username amd password in the Login tab, on the home page.
3. What is the policy renewal process for Reliancepersonal accident insurance?
You can go for the online renewal on the website of the company. To renew the policy online you need to provide current policy details, such as policy number, Name, Vehicle registration number, e-mail address and contact details. Then you can have a premium calculation and if you proceed for the payment it will carry you to the payment gateways. As soon as you pay the premium, your policy is renewed.
4. What is the companys process to settle claim for Reliancepersonal accident insurance?
To settle the claim you can intimate the company by filling a form online and uploading relevant documents.
Upon successful acceptance of the process, the claims is settled with a week.
5. What is the policy cancellation process for Reliancepersonal accident insurance?
Submit the policy documents with surrender form at the nearest branch. Upon successful proceeding, the refund is deposited directly in your bank account and the policy stand cancelled.