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.
Pros
Additional benefits can cater to varied needs of different policyholders.
Cons
There is no taxation benefit.
