What does it do?
Like other standalone personal accident policies, it pays a lump sum amount in case of accidental death of insured person. Under family plan, the death benefit varies for each insured family member subject to certain limits. Apart from death, this policy also covers permanent partial disability for up to 100 per cent of sum insured and permanent total disability for up to 125 per cent of sum insured. Child education benefit for continuing education of deceased's children is an added advantage. If the insurer accepts claim under accidental death, it also makes a one time payment towards funeral expenses.
Pros
This policy can be bought online. It pays a premium discount on selecting a 2-year policy term.
Cons
It does not cover accidental temporary disability.
