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Bajaj Allianz Personal Guard-Wider Plan (Personal Accident Cover)

Objective

This is a personal accident policy which aims to provide financial respite in case of accidental death or permanent disability.


Suited for

Any individual between age group of 18 and 65 years and child above 5 years of age is eligible to take this policy.


What does it do?

It covers accidental death and permanent total disablement. Accidental death draws a benefit of 100 per cent of sum insured to nominee whereas, accidental permanent total disability will fetch 125 per cent of sum insured. In case the disablement is permanent but partial in nature, a predefined portion of sum insured depending on nature of disablement will be paid. Apart from these benefits, the policy pays for transportation of mortal remains and children education bonus. There is a flexibility to get additional cover for medical expenses and hospital confinement by paying additional premium. Medical expenses relate to hospital bills and hospital confinement comprises daily hospitalisation cash to take care of routine expenses such as traveling and accommodation expense of family members etc.


Pros

Family discount of 10 per cent is available.
A bonus of 5 per cent after each claim-free year subject to a maximum of 50 per cent of initial sum insured.


Cons

In case a claim is made during a year, bonus will be reduced by 10 per cent.
There is no tax benefit available.


Our View

Increasing accident cases have made it truly necessary to have a personal accident cover to help family members sustain financial losses in the unfortunate event of death or disability of insured member. Though it covers accidental death and accidental permanent disablement, a comprehensive personal accident policy is always preferred which extends to include temporary disablement and other incidental expenses such as ambulance cost along with the conditions covered herein.

Eligibility
Entry Age (years) 
Minimum18; 5 for Children
Maximum65
Maximum Policy Renewal Age (years)65
Coverage TypeIndividual
Sum Insured (Rs) 
Maximum100 times of monthly income subject to maximum of Rs 25 lakh
Policy Term (years)1
Tax BenefitNot Available
DiscountFamily discount of 10% is applicable
No Claim Bonus5% increase in Sum Insured for every claim free year to a maximum of 50% of initial Sum Insured. If a cumulative bonus has been applied and a claim is made, then in the
subsequent Policy Year the cumulative bonus will automatically be reduced by 10%
Grace Period for Policy Renewal30 days
Policy TerminationInsurance company may terminate the policy by giving a written notice of 7 days. Policyholder is also allowed to terminate the policy by giving a 7 days written notice. In case no claim has been made under the policy, pro-rata percentage of premium will be refunded
Customer Service 
AddressBajaj Allianz General Insurance Company Limited. GE Plaza, Airport Road, Yerawad, Pune - 411006
Mail to[email protected]
Call to1800 225858(BSNL/ MTNL); 1800 1025858 (Bharti users- mobile/ landline) or 020 30305858
Additions to the Plan
Scope of Cover
Cashless FacilityNot Available
Accidental DeathCovered; pays 100% of Sum Insured if death takes place within 12 months of accident
Transportation of Mortal Remains2% of Sum insured or Rs 5000 whichever is lower
Permanent Total Disablement125% of Sum Insured if insured becomes Permanent Totally Disable within 12 months of the accident
Permanent Partial Disablement Predefined percentage of Sum insured if insured becomes Permanent Partial Disable within 12 months from date of accident
HospitalisationRs 1000 per day upto maximum of 30 days
Medical ExpensesReimbursement upto 40% of valid claim amount or Rs 5 lakh, whichever is lower
Children's Education Bonus allowed in case of death or permanent total disablement; Rs 5000/- for a child or Rs. 10,000/- maximum for 2 children below the age of 19 or 10% of capital sum insured, whichever is less
Exclusions and Waiting period
General ExclusionsPre existing condition or any complication arising from the same.AIDS and or other related diseases.War, participation in any criminal activity or any other related condition.
Cost Details not available on the company's website.

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