Future Accident Suraksha Insurance
A personal accident policy that aims to cover against accidental death and disability along with additional options to cover various incidental losses.
It can be bought as an individual or a family cover including up to two adults and two children. Additional covers offered are useful for those holding a basic health insurance policy providing a compact coverage.
What does it do?
As it is clear from the name, this is an accidental insurance policy covering accidental death and disability. Apart from a simple accidental cover, this policy also pays extra amount for additional benefits taken by paying extra premium. Additionally, it pays education fund for children, monthly life support benefit in case of permanent total disability, accidental medical expenses, daily cash benefit in case of hospitalisation, monthly sum to repay loan EMIs, funeral expenses and expenses for modification of house or vehicle in case of permanent total disability and allowance for transportation of family. Each of the additional benefit comes with certain eligibility conditions and maximum limits.
Additional benefits can cater to varied needs of different policyholders.
There is no taxation benefit.
It can be called a comprehensive accident cover. Additional covers add value to this policy. For instance, anyone with an outstanding loan can avail the loan protector benefit. Similarly, adaptation benefit is useful if an individual is engaged in a risky job such as construction site work or machine operation etc. Child education support makes sense if the policyholder has dependent children who are yet to complete their studies. While these benefits are meaningful, one must not attach all riders. While buying policies that allow customization, an individual must take note of existing insurance coverage because there is no need to duplicate the cover by buying the same benefit again.
|Entry Age (years)|
|Minimum||18; 5 for Children|
|Maximum||65; 25 for Children|
|Maximum Policy Renewal Age (years)||70|
|Coverage Type||Individual/ family|
|Sum Insured (Rs)|
|Policy Term (years)||1|
|No Claim Bonus||5% on primary cover(s) every year subject to 25% of the original policy sum insured|
|Policy Termination||Either of insurer or insured can cancel the policy by giving a 15 days notice in writing.|
|Address||Registered Office: Indiabulls Finance Centre, Tower 3, 6th Floor, Senapati Bapat Marg, Elphinstone (W), Mumbai - 400 013|
|Mail to||[email protected]|
|Call to||1800-220-233 (BSNL / MTNL) 1860-500-3333 (others)|
|SMS||FG to 567678|
Additions to the Plan
|Scope of Cover|
|Accidental Death||pays 100% of the sum insured|
|Permanent Total Disablement||pays 100% of the sum insured|
|Permanent Partial Disablement||pays a pre-specified percentage of sum insured depending on the nature of disablement|
|Temporary Total Disablement||pays a sum as stated in the policy|
|Additional Benefits (requires payment of extra premium)|
|Child Education Support||monthly benefit for stated term upon death of permanent total disablement of the insured for child upto 21 years of age|
|Life Support Benefit||monthly benefit of stated amount for a stated term if insured becomes Permanent totally disable|
|Accidental Medical Expenses||covers hospitalisation expenses|
|Hospital Cash Allowance||provides a cash amount for each completed day in hospital for a maximum period mentioned in policy document|
|Loan Protector||Pays lower of actual loan EMI or the monthly sum mentioned in the policy schedule upon death or permanent disablement or in case hospitalized as a result of an accident.|
|Repatriation Benefit and Funeral Expenses||pays upto 1% of principal sum insured subject to maximum of Rs 12500|
|Adaptation Allowance||any modification to vehicle or house due to Permanent Total Disablement(PTD) will be covered upto 10% of principal sum insured subject to a maximum of Rs 50000 provided insurer pays claim towards PTD|
|Family Transportation Allowance||pays upto 10% of principal sum insured subject to maximum of Rs 50000|
|Exclusions and Waiting Period|
|Pre-existing diseases||not covered|
|Other exclusions||any pre-existing disablementemergency medical evacuation participation in any adventurous sport or activityparticipation in any illegal or criminal or related activities|
|Sum Insured (in Rs)||5 lakh||10 lakh||15 lakh||20 lakh||25 lakh|
|Option for Accidental Death|
|Option for Permanent Partial Disablement|
|Option for Permanent Total Disablement|
|Premiums are exclusive of taxes|