Tata AIG Income Guard
Objective
This is a personal accident insurance policy that aims to cover a family in its ambit. It is a comprehensive policy that will take care of incidental expenses and losses.
Our View
This is a decent policy that can be bought as an individual or family cover. Expenses like modification of house or vehicle in case of disability, education benefit for children on demise of the insured member are useful benefits.
Suited for
This policy can be bought for an individual or for a family to cover spouse and up to three children under one policy.
What does it do?
It pays the agreed sum insured on unfortunate demise of the insured member due to an accident. A family floater covers the spouse for 50 per cent of the basic sum insured and children for a maximum sum of 10 per cent, for each selected benefits offered under this policy. Cover for other related expenses increase the attractiveness of this plan.
Pros
It offers 5 per cent increase in the sum insured on renewal.
Cons
This policy does not cover temporary disability.
Eligibility
Entry Age (years)
Minimum
18; 6 months for children
Maximum
70; 18 for children(23 in case child is financially dependent, unmarried, Full time student
in accredited Institute)
Coverage Type
Individual/ Family
Sum Insured (Rs)
As stated in the Scope of Cover. Spouse is covered for 50% and upto 3 dependent children are covered for 10% each of selected benefit
Policy Term (years)
1
No Claim Bonus
5% of original benefit is added to the sum insured for a maximum of 5 years on each policy renewal
Policy Termination
Insurer may cancel the policy at anytime by providing a prior notice of 7 days. Policy can be cancelled by insured person as well. Insurer will refund a proportionate premium as stated in the policy document
Customer Service
Registered Office:TATA AIG Insurance, 9th Floor, Piramal Towers, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400 01
Customer Service
Mail to
[email protected]
Call to
1800-266-7780
SMS
TAG to 5616181
Network Hospitals
Http://emeditek.co.in/Network_Provider.aspx
Additions to the Plan
| Scope of Cover | |||
| Plan Options | |||
| Level 1 | Level 2 | Level 3 | |
| Accidental death | 10 lakh | 15 lakh | 20 lakh |
| Partial disability | pays a pre specified percentage of sum insured on basis of nature of disablement upto maximum of Rs.20 lakh | pays a pre specified percentage of sum insured on basis of nature of disablement upto maximum of 30 lakh | pays a pre specified percentage of sum insured on basis of nature of disablement upto maximum of 40 lakh |
| Total Disability | 10 lakh | 15 lakh | 20 lakh |
| Special Coverage(only with Family Plan Option) | |||
| Special Education Benefit (for full time child in Grade 12 or above in case of death of insured member) | covered for maximum upto 10% of principal Sum Insured | ||
| Modification of House &/or vehicle in case of disability | covered upto maximum of Rs 50000 | ||
| Repatriation of Remains | covers expenses upto Rs 5000 | ||
| Family Transportation | covers expenses upto Rs 25000 | ||
| Additional Benefits | |||
| Tuition benefit (in case of accidental death) | Rs 150000 | ||
| Home Alteration & Vehicle Modification Benefit | covers expenses incurred between 1 year after the date of accident upto amount stated in the policy schedule | ||
| Repatriation benefit | pays upto maximum of Rs 5000 | ||
| Family Transportation benefit | reimburses the actual expenses subject to maximum of Rs 25000 | ||
| Exclusions and Waiting Period | |||
| Pre-existing diseases | not covered | ||
Cost Details
| Annual Premium | |||
| Level 1 | Level 2 | Level 3 | |
| Self only | 1817 | 2726 | 3634 |
| Family option | 2908 | 4361 | 5815 |
| Premium rates are inclusive of service tax and cess | |||
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