Apollo Munich Individual Personal Accident- Standard
This is a basic accidental policy paying a specified sum insured upon accidental death or accidental disablement. It pays accidental medical expenses and for education of insured's child, in case insured member falls victim to accidental death or acquires permanent total disability.
Every individual must be covered under a personal accident policy to get financial respite from rising number of accidental eventualities. Since sum insured under this policy is fixed at 10 times the annual salary of proposer, those who fulfill the eligibility conditions and earn up to Rs 5 lakh per annum may buy this policy.
What does it do?
A basic accidental cover which claims to immune against financial losses incurred due to accidental death or disablement, whether it is partial or total. Apart from these basic benefits, it 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. It allows a certain lump sum amount to support the education in case of permanent total disability or unfortunate demise of insured person. Education funding is allowed for maximum two children. It covers accidental medical expenses as well. Each benefit is capped at a specific percentage of sum insured.
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.
There is a ceiling on maximum amount under each benefit.
It does not provide any tax relief.
This policy aims to mitigate risk of loss of income in case of accidental death or accidental disability of the insured person, hence it is recommended. It should be noted that premiums payable are a function of nature of occupation that insured person is involved in. Though the premiums are higher for occupations carrying high risk, it is advised to furnish the true nature of occupation to avoid trouble at the time of filing claim, just in case.
|Entry Age (years)|
|Minimum||5; 3 months for children|
|Maximum Policy Renewal Age (years)||70|
|Sum Insured (Rs)|
|Policy Term (years)||1|
|Tax Benefit||Not Available|
|Discount||Family discount of 10% is applicable if 2 or more family members included|
|No Claim Bonus||5% 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.
|Policy Termination||Insurance 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 on prorata basis|
|Address||Apollo 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]|
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 5 lakh|
|Emergency Ambulance||Up to Rs 2,000|
|Family Transportation to hospital (atleast 200 kms away) where insured is admitted||1% of AD Sum Insured; max Rs. 50000 . Restricted to one immediate member|
|Transportation of Mortal Remains||2% of AD Sum Insured; max Rs. 10,000|
|Education Fund||allowed upto 2 children. 10% of Accidental Death Sum Insured upto a maximum of Rs 20000|
|Accident Medical Expenses||covered upto lowest of the actual expenses, 40% of admitted claim, 10% of AD Sum Insured or Rs. 50,000|
|Exclusions and Waiting period|
|Special Exclusions for Accidental death, disablement and medical expenses||Bacterial infections (except pyogenic infection which occurs through an Accidental cut or wound).Hernia|
|General Exclusions||Pre existing condition or any complication arising from the same.Any psychiatric or mental disorders.AIDS or any other related conditions.|
|Proposer Sum Insured (SI) (R)||1 lakh||2 lakh||3 lakh||5 lakh||7.5 lakh||10 lakh||25 lakh||50 lakh|
|Occupation Class I||120||240||360||600||850||1100||2600||5100|
|Occupation Class II||180||360||540||900||1275||1650||3900||7650|
|Occupation Class III||250||500||750||1250||1775||2300||5450||10700|
|Adult Dependent SI (R)||50000||100000||150000||250000||375000||500000||1250000||2500000|
|Occupation Class I||60||120||180||300||450||600||1350||2600|
|Occupation Class II||90||180||270||450||675||900||2025||3900|
|Occupation Class III||125||250||375||625||937.5||1250||2825||5450|
|Child Dependent SI (R)||25000||50000||75000||125000||187500||250000||625000||1000000|
|Occupation Class I||30||60||90||150||225||300||725||1100|
|Proposer TTD SI (R)||100000||200000||300000||500000||500000||500000||500000||500000|
|Occupation Class I||25||50||75||125||125||125||125||125|
|Occupation Class II||37.5||75||112.5||187.5||187.5||187.5||187.5||187.5|
|Earning Spouse TTD SI (R)||50000||100000||150000||250000||250000||500000||500000||500000|
|Occupation Class I||12.5||25||37.5||62.5||62.5||125||125||125|
|Occupation Class II||18.75||37.5||56.25||93.75||93.75||187.5||187.5||187.5|
|Premiums depend upon nature of occupation and level of risk involved. Occupation class I is low risk category, Occupation class II is medium risk category and Occupation class III is high risk category. Premiums are exclusive of service tax.|
|* 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 25 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 5 lakh.|