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Apollo Munich Personal Accident Plan

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Apollo Munich Personal Accident Plan

 

Apollo Munich Personal Accident Plan  is a Personal Accident Insurance Policy which offers compensation in case of death or bodily injury to the insured person, directly and solely as a result of an accident, by external, visible and violent means and covers medical expenses incurred by a person due to any accident.  Personal or car accidental injuries are covered under this plan.

 

How it works – In this plan, premium needs to be paid in a lump sum and can be availed for a period of 12 months. This policy can be availed for the entire family as well which includes self, spouse, dependent children and dependent parents.

 

 

Variants

 

There are 2 variants of this Plan:

1.       Standard - For Sum Assured Rs(in Lacs) 1, 2, 3, 5, 7.5, 10, 25 and 50

2.       Premium - For Sum Assured Rs(in Lacs)  5, 10, 15, 25, 50, 100, 200 and 500

 

This plan covers Accidental Death, Total and Permanent Disability, Temporary Disability and Dismemberment. There is an additional coverage of Reimbursement of Medical Expenses due to an accident on payment of additional premium. In the event of an accidental injury resulting in temporary total disablement, an amount of 1% of the Total Sum Assured is paid per week.

 

There are certain additional benefits available in this plan on payment of additional premium like Children Education Fund, Cumulative Bonus, Reimbursement of expenses for the carriage of the dead body, etc.

 

The additional benefits of Premium Variant over and above the regular benefits of Standard Variant are Lump Sum Payment on:

§         Fracture or Broken Bones up to Rs 1,00,000

§         Transportation of Imported Medicines up to Rs 20,000

§         Purchase of Emergency Blood up to Rs 10,000

§         Modification of Residence/Vehicle of 10% of Accidental Sum Insured up to a maximum Rs 1,00,000

§         Accident Hospitalization (In-patient) up to Rs 1,00,000

 

 

Key Features of Apollo Munich Personal Accident Plan?

 

All medical expenses due to the following are covered:

§         Accidental Death

§         Total and permanent disability

§         Temporary disability

§         Dismemberment like loss of limbs, etc.

 

What is covered in Apollo Munich Personal Accident Plan?

 

§         This plan provides cover for treatment for any injuries or illness caused by accidents

§         This plan covers Accidental Death, Accidental Total and Permanent Disability, Temporary Disability and Accidental Dismemberment

§         This plan pays a Lump Sum Amount in the event of death of the Life Insured due to an accident

§         Education Fund - In case of Accidental Death or Permanent Total Disablement, 50% of the Sum Insured is paid per Dependent Child up to a maximum of 2 Dependent Children for pursuing Education

§         Transportation Expenses - In case of Accidental Death or Permanent Total Disablement, the expenses incurred in transporting one immediate family member to the hospital is reimbursed under this plan

§         There is a Weekly Allowance Payment in case of Temporary Total Disablement

§         Hospitalization Expenses - In this plan, Medical Expenses are reimbursed for in-patient treatment in a hospital due to an accident

§         Fracture Benefit - There is a unique feature of Lump Sum Payment in case of fracture of bone due to an accident as per the schedule

§         This plan pays for Emergency Ambulance Charges

§         This policy compensates for injuries occurred anywhere in the world

 

 

Additional Benefits of Apollo Munich Personal Accident Plan

 

There are certain additional benefits available in this plan on payment of additional premium. The benefits can be summarised as:

§         Children Education Fund

§         Cumulative Bonus

§         Transportation of Mortal Remains- Reimbursement of expenses for the carriage of the dead body

§         This plan also pays for

-          Accident Medical Expenses

-          Broken Bones

-          Transportation of Imported Medicine

-          Purchase of Blood

-          Modification of Residence/Vehicle

-          Accident Hospitalization (In-patient)

 

 

Eligibility and Restrictions of Apollo Munich Personal Accident Plan

 

 

 

Minimum

Maximum

Sum Assured of Life Insured (in Rs)

10 times of the total annual income

Sum Assured of Spouse and Dependent Parents (in Rs)

50% of LI’s Sum Insured S.T. Max of Rs 50,00,000

Sum Assured of Children (in Rs)

25% of LI’s Sum Insured S.T. Max of Rs 10,00,000

Policy Term (in years)

1

Entry Age of Life Insured/Spouse (in years)

5

69

Entry Age of Children (in years)

91st Day

17

Renewable till Age (in years)

-

70

 

 

Family Floater Policy will cover

 

In case of Family Package option, it covers Self, Spouse, Dependent Children as well as Dependent Parents. Children below 5 years can be covered from 91st day onwards if either parent is covered under the same policy. A discount of 10% is available if two or more members are covered under this policy.

 

 

Tax Benefits of Apollo Munich Personal Accident Plan

 

There is no Tax Benefit under this plan

 

 

Exclusions - What is not covered in Apollo Munich Personal Accident Plan?

 

  • Non Accident Cases are not entertained in this plan
  • Self-inflicted injury, suicide or attempted suicide or abuse of intoxicants or hallucinogens including drugs and alcohol
  • Participation or involvement in naval, military or air-force operations, racing, diving, aviation, rock or mountain climbing, any breach of law with criminal intent
  • War or any act of war, act of foreign enemy, public defense, rebellion, revolution, insurrection, military or usurped acts, chemical, radioactive or nuclear contamination
  • Pregnancy or childbirth or its complications, congenital internal & external diseases
  • HIV/AIDS, sexually transmitted diseases
  • Pre-existing conditions & their complications

 

 

 

Alternate Accidental Insurance Plans from other insurance companies

 

Tata AIG Accident Guard Plan

Bajaj Allianz Personal Guard Plan

New India Assurance Personal Accident Policy

 

 

Other Health plans from Apollo Munich Health Insurance

 

Easy Health Individual

Easy Health Family

Insure Health

Optima Cash

Maxima

Apollo Munich Optima Restore

 

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