Chola MS Accident Protection Plan
Objective
A personal accident policy that aims at providing financial respite in event of accidental death or disability.
Suited for
Any individual may buy a personal accident cover but, it is must for those who are frequent drivers or are engaged in high risk job profiles such as field engineers and manual workers.
What does it do?
It is a traditional standalone personal accident policy that cannot be bought online. It covers accidental death, permanent total disability, permanent partial disability and temporary total disability. The cover does not end here. It includes other accompanying expenses such as broken bone, transportation of mortal remains, ambulance charges and family transportation benefit. Home or vehicle modification required in case of permanent partial disablement is also covered. It also provides a daily cash allowance for each day of hospitalisation. Another useful allowance is fee for private tuition if the insured is unable to attend school or college.
Pros
A high sum insured of upto Rs 25 lakh is available.
Our View
Rising cases of accidents have made it imperative to buy a personal accident cover. Accidental policies are available at a very low price and your insurance portfolio must contain one if your job requires you to undertake risk. Disability is a more evil condition that causes loss of income while medical bills continue to swell. Cover for incidental expenses makes it a more comprehensive policy. This policy is recommended for those who are willing and comfortable buying through traditional channels involving middlemen.
Eligibility
| Entry Age (years) | |
| Minimum | 18; 6 Months for Children |
| Maximum | 69; 18 for Children ( 25, if pursuing higher education) |
| Coverage Type | Individual/ Family |
| Sum Insured (Rs) | |
| Maximum | 25 lakh |
| Minimum | 5 lakh |
| Policy Term (years) | 1 |
| Policy Termination | Insurer may terminate the policy by giving a 7 days notice. Policyholder may also cancel the policy. Insurance company will return the premiums on pro-rata basis only if no claim has been made. |
| Customer Service | |
| Address | Registered Office:Cholamandalam MS, General Insurance Company Ltd, 2nd Floor, "Dare House", No.2, NSC Bose Road, Chennai - 600001, India |
| Mail to | [email protected] |
| Call to | 044-3044 5400, 1800-200-5544 (Toll Free) |
| SMS | SMS "CHOLA" to 56677 |
| Network Hospitals | Http://www.cholainsurance.com/nwhosp/ |
Additions to the Plan
| Scope of Cover | |
| Accidental Death | pays 100% of sum insured |
| Permanent Total Disability | pays 100% of sum insured |
| Permanent Partial Disability | pays benefit from 2% to 50% of sum insured |
| Broken bones | pays from 3% upto 100% of sum insured |
| Temporary Total Disability | pays 1% of sum insured subject to maximum of Rs 10000 for maximum 100 weeks |
| Transportation of mortal remains | pays lower of upto 3% of sum insured or Rs 6000 |
| Ambulance charges | covered upto Rs 1000 |
| Religious ceremonies at the time of cremation or later | covered for lower of actual cost or Rs 5000 |
| Modification of residential acomodation or vehicle | pays for expenses in event of Permanent Total Disability |
| Family transportation to the Insured's place | pays expenses in case of accidental death or permanent total disability |
| Fee for private tuition | pays a per day benefit if insured is unable to attend school or college |
| Accidental Hospital Daily Cash | pays a daily cash allowance for each day completed in hospital |
| Exclusions and Waiting Period | |
| Pre-existing diseases | not covered |
| Waiting period | first 3 days of fees for private tuition |
| Other exclusions | AIDS/ HIV, mental disorders and related conditions |
| Annual Premium and Policy Coverage | |||||||
| Sum Insured (R) | 5 Lakhs | 7.5 Lakhs | 10 Lakhs | 15 Lakhs | 20 Lakhs | 25 Lakhs | |
| Annual Income Eligibility (R) | 1 lakh | 1.5 lakh | 2 lakh | 3 lakh | 4 lakh | 5 lakh | |
| For Self Only | Policy Coverage (R) | ||||||
| Accidental Death | 500000 | 750000 | 1000000 | 1500000 | 2000000 | 2500000 | |
| Permanent Total Disability | 500000 | 750000 | 1000000 | 1500000 | 2000000 | 2500000 | |
| Permanent Partial Disability | 250000 | 375000 | 500000 | 750000 | 1000000 | 1250000 | |
| Weekly Indemnity | 5000 | 5000 | 5000 | 5000 | 5000 | 5000 | |
| Broken Bone | 50000 | 50000 | 50000 | 50000 | 50000 | 50000 | |
| Modification of Residence Vehicle | 100000 | 100000 | 100000 | 100000 | 100000 | 100000 | |
| Cost of Transporting Mortal Remains | 6000 | 6000 | 6000 | 6000 | 6000 | 6000 | |
| Cost of Performance of Death Ceremony | 5000 | 5000 | 5000 | 5000 | 5000 | 5000 | |
| Ambulance Hiring Charges | 1000 | 1000 | 1000 | 1000 | 1000 | 1000 | |
| Family Transportation Benefit | 5000 | 5000 | 5000 | 5000 | 10000 | 10000 | |
| Hospital Daily Cash | 500 per day / 30 days | ||||||
| Premium* (with Hospital Daily Cash) | 1316 | 1542 | 1769 | 2223 | 2676 | 3132 | |
| For Family Option (In addition to above, the following are covered) | Policy Coverage (R) | ||||||
| Accidental Death - Spouse | 250000 | 375000 | 500000 | 750000 | 1000000 | 1000000 | |
| Permanent Total Disability - Spouse | 250000 | 375000 | 500000 | 750000 | 1000000 | 1000000 | |
| Permanent Partial Disability - Spouse | 125000 | 187000 | 250000 | 375000 | 500000 | 500000 | |
| Accidental Death - per child | 50000 | 75000 | 100000 | 150000 | 200000 | 250000 | |
| Permanent Total Disability - per child | 50000 | 75000 | 100000 | 150000 | 200000 | 250000 | |
| Permanent Partial Disability - per Child | 25000 | 37500 | 50000 | 75000 | 100000 | 125000 | |
| Tuition Fees Per child - Rs 250 per day | 5000 | 5000 | 5000 | 5000 | 5000 | 5000 | |
| Premium* (with Hospital Daily Cash) | 2042 | 2450 | 2813 | 3584 | 4356 | 4855 | |
| * Premiums are exclusive of service tax | |||||||
