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Future Accident Suraksha Insurance

Objective

A personal accident policy that aims to cover against accidental death and disability along with additional options to cover various incidental losses.


Suited for

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.


Pros

Additional benefits can cater to varied needs of different policyholders.


Cons

There is no taxation benefit.


Our View

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.

Eligibility
Entry Age (years) 
Minimum18; 5 for Children
Maximum65; 25 for Children
Maximum Policy Renewal Age (years)70
Coverage TypeIndividual/ family
Sum Insured (Rs) 
Maximum25 lakh
Minimum1 lakh
Policy Term (years)1
No Claim Bonus5% on primary cover(s) every year subject to 25% of the original policy sum insured
Policy TerminationEither of insurer or insured can cancel the policy by giving a 15 days notice in writing.
Customer Service 
AddressRegistered Office: Indiabulls Finance Centre, Tower 3, 6th Floor, Senapati Bapat Marg, Elphinstone (W), Mumbai - 400 013
Mail to[email protected]
Call to1800-220-233 (BSNL / MTNL) 1860-500-3333 (others)
SMSFG to 567678
Additions to the Plan
Scope of Cover
Accidental Deathpays 100% of the sum insured
Permanent Total Disablementpays 100% of the sum insured
Permanent Partial Disablementpays a pre-specified percentage of sum insured depending on the nature of disablement
Temporary Total Disablementpays a sum as stated in the policy
Additional Benefits (requires payment of extra premium)
Child Education Supportmonthly benefit for stated term upon death of permanent total disablement of the insured for child upto 21 years of age
Life Support Benefitmonthly benefit of stated amount for a stated term if insured becomes Permanent totally disable
Accidental Medical Expensescovers hospitalisation expenses
Hospital Cash Allowanceprovides a cash amount for each completed day in hospital for a maximum period mentioned in policy document
Loan ProtectorPays 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 Expensespays upto 1% of principal sum insured subject to maximum of Rs 12500
Adaptation Allowanceany 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 Allowancepays upto 10% of principal sum insured subject to maximum of Rs 50000
Exclusions and Waiting Period
Pre-existing diseasesnot covered
Other exclusionsany pre-existing disablementemergency medical evacuation participation in any adventurous sport or activityparticipation in any illegal or criminal or related activities
Annual Premium
Sum Insured (in Rs)5 lakh10 lakh15 lakh20 lakh25 lakh
Option for Accidental Death
2004006008001000
Option for Permanent Partial Disablement
125250375500625
Option for Permanent Total Disablement
50100150200250
Premiums are exclusive of taxes