What does it do?
This is a personal accident policy that can be either bought as an individual policy for oneself or as a family policy that covers your spouse and children as well. It allows to cover your parents under the same policy. It covers accidental death, permanent disablement, broken bones and burns. It provides a daily cash benefit up to the maximum number of days mentioned in policy schedule. Ambulance cost is also covered.
Pros
Family discount on covering two or more members is available.
Parents can be covered.
5 per cent bonus for each claim-free year is available.
This policy can be bought online through company's website.
Cons
Policy benefits for parents(if covered) are limited to pre- decided levels.
This policy does not cover temporary disablement.
There is no taxation benefit.
