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Apollo Munich Individual Personal Accident- Premium

Objective

This is accidental policy, unlike basic accidental policies, covers accident inpatient hospitalisation, broken bones, transportation of imported machine, purchase of blood, modification of residence or vehicle in case of total permanent disability. It aims at providing a complete insurance against monetary loss  due to an accident.


Suited for

This policy is suitable for anyone up to 69 years of age. Every individual must have an accidental cover. It offers a cover up to 5 crores. Though the premiums are slightly higher due to wide coverage of the policy, they are still affordable and economical.


What does it do?

It claims to immune against financial losses incurred due to accidental death or disablement, whether partial or total. Unlike basic accidental policies, accidental inpatient hospitalisation expenses are covered. It also covers ambulance cost to transfer insured person from site of accident to hospital or from hospital to home, family transportation to hospital and transportation of mortal remains to home or burial or cremation ground. It allows a certain lump sum amount to support the education cost of children in case of permanent total disability or unfortunate demise of insured person. Education funding is allowed for maximum two children. Additionally it covers fractured bones, transportation of imported machines, purchase of blood and modification of residence or vehicle if claim was accepted for permanent total disablement. Each benefit is capped at specific percentage of sum insured and will be paid depending on the nature and severity of condition.


Pros

Policyholder enjoys a cumulative bonus of 5 per cent for every claim-free year up to maximum of 50 per cent of basic sum insured.
Family discount of 10 per cent is applicable if two or more members are covered.


Cons

Cumulative bonus reduces to zero in the following year when claim has been made.
Maximum allowance under each benefit is capped.
It does not provide any tax relief.


Our View

Rise in accident cases has increased the need and importance of personal accident covers. This is a worthy plan as it also covers expenses related to accidental death or disability. Though there is ceiling on each benefit, it reduces the financial burden to a great extent. Moreover, it is advised to furnish correct and true occupation details to avoid trouble at the time of making claim, just in case.

Eligibility
Entry Age (years) 
Minimum18; 3 months for children
Maximum69
Maximum Policy Renewal Age (years)70
Coverage TypeIndividual
Sum Insured (Rs) 
Maximum5 crore
Minimum5 lakh
Policy Term (years)1
Tax BenefitNot Available
DiscountFamily discount of 10% is applicable if 2 or more family members included
No Claim Bonus5% increase in Sum Insured would be applicable for every claim free years till it reaches to a maximum of 50% of initial Sum Insured. a cumulative bonus has been applied and a claim is made, then in the
subsequent Policy Year the cumulative bonus will automatically reduce to zero in
that following Policy Year. It is applicable only to Accidental death, Permanent Total Disability and Permanent Partial Disability Sum Insured.
Policy TerminationInsurance company may terminate the policy by giving a written notice of 30 days. Policyholder is allowed to terminate the policy at anytime by giving a written notice. In case no claim has been made under the policy, percentage of premium will be refunded
Customer Service 
AddressApollo Munich Health Insurance Company Limited
Corporate Office: 10th floor, Tower B, Building No. 10, DLF Cyber City, Phase -II, Gurgaon, Haryana-122002
Registered Office: Apollo Hospital Complex, Jubilee Hills, Hyderabad - 500033
Mail to[email protected]
Call to1800-102-0333
Network HospitalsHttp://www.apollomunichinsurance.com/our-hospital-network.aspx
Additions to the Plan
Scope of Cover
Accidental Death (AD)Covered; pays Sum Insured
Permanent Total Disablement [PTD]Predetremined percentage of Sum insured depending on nature of permanent total disablement
Permanent Partial Disablement [PPD]Predetremined percentage of Sum insured depending on nature of permanent partial disablement
Temporary Total Disablement weekly benefit upto maximum of 100 weeks. 1% of the Sum Insured for each week; maximum Rs 15 lakh
Emergency AmbulanceUp to Rs 2,000
Family Transportation to hospital (atleast 200 kms away) where insured is admitted 1% of AD Sum Insured; max Rs. 100000 . Restricted to one immediate member
Transportation of Mortal Remains2 % of AD Sum Insured; maximum Rs. 10,000
Education Fundallowed upto 2 children. 10% of Accidental Death Sum Insured upto a maximum of Rs 20000
Temporary Total Disablement100% of AD Sum Insured; max Rs. 15,00,000
Accident Medical ExpensesCovered
Broken Bones20 % of AD Sum Insured; max Rs.1,00,000
Transportation of Imported Medicine5 % of AD Sum Insured; max Rs 20,000
Purchase of Blood5 % of AD Sum Insured; max Rs 10,000
Modification of Residence/Vehicle10 % of AD Sum Insured; max Rs 1,00,000
Accidental Hospitalisation (In-patient)Rs. 1,00,000
Annual Premium
Proposer Sum Insured (R)5 lakh10 lakh15 lakh25 lakh50 lakh1 crore2 crore5 crore
Occupation Class I10951595209530955595105952059550595
Occupation Class II16502400315046508400159003090075900
Adult (Dependent) Sum Insured (R)2.5 lakh5 lakh7.5 lakh12.50 lakh25 lakh50 lakh50 lakh50 lakh
Occupation Class I650900115016502900540054005400
Occupation Class II9801355173024804355810581058105
Child (Dependent) Sum Insured (R)1.25 lakh2.5 lakh3.75 lakh6.25 lakh10 lakh10 lakh10 lakh10 lakh
Occupation Class I4455706959451320132013201320
Proposer Temporary Total Disablement Sum Insured (R)5 lakh10 lakh15 lakh15 lakh15 lakh15 lakh15 lakh15 lakh
Occupation Class I125350525525525525525525
Occupation Class II187.5525787.5787.5787.5787.5787.5787.5
Earning Spouse Temporary Total Disablement Sum Insured(R)2.5 lakh5 lakh7.5 lakh7.5 lakh15 lakh15 lakh15 lakh15 lakh
Occupation Class I62.5125262.5262.5525525525525
Occupation Class II93.75187.5393.75393.75787.5787.5787.5787.5
Premiums depend upon nature of occupation and level of risk involved. Premiums are exclusive of service tax.
Occupation class I is low risk category, Occupation class II is medium risk category and Occupation class III is high risk category.
*Sum insured depends upon Income. Accidental Sum Insured for The proposer would be maximum 10 x Annual income. Sum Insured for Adult dependent would be 50% of proposer's Sum Insured subject to maximum of Rs 50 lakhs. Sum Insured for Child Dependent would be 25% of proposer's Sum Insured subject to maximum of Rs 10 lakh and Temporary Total Disablement benefit would be twice the annual income upto a maximum of Rs 15 lakh.

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