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Tata AIG Accident Guard

Objective This is a personal accident policy that aims to cover accidental death and disablement caused during the policy period.
Suited for It can be bought as an individual cover or you may also include your family members under the same policy.
What does it do? Like any other personal accident policy, this policy pays in case of accidental death or disability. It comes with two options, (1) Accidental Death & Dismemberment, (2) Accidental Death and Dismemberment accompanied by Permanent Total Loss of Use.
A person can select either of the two options on the basis of coverage required. Option 2 offers wider insurance.
Both options of the policy offer a weekly cash benefit in case of an accident, but not in the family cover. Another useful benefit is education allowance for continuation of child's education on death of the parent. Insurance company will also extend financial support to modify house or vehicle of the policyholder in case of disability
Pros It offers an insurance cover up to Rs 1 crore.
Cons There is no taxation benefit.
Our View A standalone personal accident policy which is a must for anyone carrying  accidental risk. Accidental risk can arise from a road accident or a job that requires performing dangerous tasks. Education allowance and house or vehicle modification allowance are valuable benefits. It also offers a huge cover of up to Rs 1 crore thus useful for those looking for a huge accidental cover. This policy is recommended.