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Q1. What is Individual Personal Accident Insurance?
This Policy is designed to cover Loss of Life, Disabilities, and Income due to an Accident. Accidental Death cover is a compulsory cover; Permanent Total Disablement, Permanent Partial Disablement and Temporary Total Disablement are Optional covers available to the proposer.
Q2. What is the age limit for taking this policy?
The minimum age for taking this policy is 18 years and maximum is 65 years. There is Lifelong Renewability under the Policy in the absence of a claim.
Q3. If I suffer from an accident and get hospitalised, will I get medical expenses benefit?
You can opt for Hospital Confinement allowance under the policy that pays for per day of accidental hospitalisation for maximum up to 15 days in a policy period. You can opt for a per day allowance of ₹1000/ ₹ 2000/ ₹3000 under this benefit.
Q4. If any person dies of Heart Attack, will his family get a claim?
This policy covers only Accidental Death and hence death due to any other reason other than accident will not be covered under this policy
Q5. Who can buy this policy?
Anyone in the age group of 18- 65 years can buy this policy.
Q6. What is the exit age for this policy?
There is No maximum exit age for this policy.
Q7. What is the waiting period under this policy?
There is a no waiting period under this policy.
Q8. Do we cover accidents that occur outside of India?
This Policy applies to accidental events occurring anywhere in the world.
Q9. Which other add on covers are available in this policy?
Hospital Confinement allowance and Ambulance expenses (including air ambulance) are available as add on covers under this policy
Q10. Is there any restriction on Sum Insured?
Sum Insured for Accidental Death Benefit/ Permanent Total Disability is limited to 120 times Monthly Gross income or 10 times the annual gross earnings from gainful employment/occupation. Maximum SI is ₹ 1,00,00,000/-. Minimum Sum Insured is ₹ 1,00,000/-.
Sum Insured for Dependent Children, dependant parents, parents in law and non working spouse is limited to 20 % of SI of the primary Insured or ₹10, 00,000/- whichever is less.
Q11. Do I need to give income proof?
Proof of income is required only in case of Accidental Death sum insured exceeding ₹25, 00,000/-.
For Accidental Death Sum Insured of above ₹ 25 Lakhs , copy of self signed latest income proof ( Latest 3 salary slips/Form 16 / IT return ) to be provided along with the completed Proposal Form.
Q12. What documents are required to make a claim?
The documents required for processing an Accidental Death claim are as follows:
Q13. Can I get Tax Benefit for this policy?
Tax Benefit is not applicable to Personal Accident Policies.
Q14. Do I need to undergo pre- policy medical tests?
There is no pre- policy requirement in this policy. However any Pre- existing disabilities have to be declared on the Proposal Form and the case may be underwritten based on the level of disability.
Q15. Are there any long tenure plan options available under this Policy?
SBI General’s Group Personal Accident Insurance Policy is available for a one year period only.
Q16. If I don’t claim in a policy period, can I get a refund of my money?
Even if you do not claim in policy period, you will not get any refund of premium.
Q17. Are there any deductibles in this policy?
There are no deductibles under the policy except if you have opted for Temporary Total Disablement, where in there is a deductible of first week of claimed period.
Q18. Does this policy have any continuity benefit?
Yes, if no claim has been made under the policy with us and the policy is renewed with us without any break, we will allow a cumulative bonus to the renewal policy by increasing the Sum Insured by 5%. The maximum cumulative bonus shall not exceed 50% of the Sum Insured in any policy year. In case of a claim, the Cumulative Bonus if any under the policy will get reduced by 5% at the time of renewal. This cumulative bonus is applicable only to Accidental Death, Permanent Partial Disability and Permanent Total disability benefits.