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Bajaj Allianz Premium Personal Guard Accident Plan - UIN IRDA/NL-HLT/BAGI/P-P/V.I/278/13-14

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Bajaj Allianz Premium Personal Guard Accident Plan Summary

Premium Personal Guard of from Bajaj Allianz is one of the best personal accident insurance plan . This plan will protect you from unnecessary financial losses incurred due to an accident. This Plan comes with 8 main benefits.
 
Plan name Bajaj Allianz Premium Personal Guard Accident Plan
Policy type Personal Accidental Plan
UIN IRDA/NL-HLT/BAGI/P-P/V.I/278/13-14
 

Key Features of Bajaj Allianz Premium Personal Guard Accident Plan

  • Payout of 200% of cover amount shall be provided by the company in case of Permanent Total Disablement.
  • Transportation benefit of Rs. 5,000 or 2% of sum insured whichever is lower shall be provided by the company.
  • Hospital daily cash ranges from Rs. 1,000 to Rs. 2,500
  • The claim payment under Accidental Death, Permanent Total Disability & Permanent Partial Disability would be restricted to 50% for spouse & 25% for child, provided spouse & child are covered under the policy
 
Age Entry age for Proposer and Spouse is 18 years to 65 years

Dependent Children can be covered from 5 years to 21 years
Renewability Lifetime
Policy period This is an annual policy
Members that can be covered in the policy Self, Spouse and dependent children 
Who can buy this policy? This policy is offered to risk Class 1 - Administrative / management functions, accountants, doctors, lawyers, architects, teachers and similar occupations
 

Benefits of Bajaj Allianz Premium Personal Guard Accident Plan

Accidental Death: In case of Accidental Death of the insured, 100% of sum insured will be provided to the nominee as ‘Death Benefit’.

Permanent Total Disablement: If an insured is suffering from Permanent Total Disablement due to an accident then that person is entitled to receive 200% of sum insured as payout. What constitutes Permanent Total Disability in this plan - Know more.

Permanent Partial Disablement: If the insured is suffering from Permanent Partial Disablement then the payout completely depends on the severity of the disability. Know more about the payout depending on the severity levels as mentioned here.

Temporary Total Disablement: Weekly Compensation shall be provided in case of temporary total disablement. Payout will be provided as per plan opted and for a maximum period of 100 weeks. Weekly payout mainly ranges from Rs 5,000 to Rs 10,000 depending on the plan.

Transportation of mortal remains: If the insured dies in an accident, the expenses related to transporting the mortal remains till the insured’s residence or burial ground shall be paid by the company. Payout in this benefit will be limited to the lower Rs. 5,000 or 2% of sum insured.

Children Education Benefit: This benefit applies in case of Accidental Death and Permanent Total Disablement. In this case one time payment of Rs 5000 shall be given by the company for the dependent children (max up to 2). The children which are covered, should be under the age of 19 at the time the policyholder met with accidental bodily injury.

Hospital Confinement Allowance: Hospital Confinement Allowance also known as Daily Cash Allowance ranges from Rs. 1,000 to 2,500 as per plan opted per day for a maximum of 30 days of hospitalization.

Cumulative Bonus: For every claim free year cumulative bonus of 10% of sum insured will be provided by the company. Maximum no claim bonus will be 50% of sum insured up to 5 claim free years.

Note* The claim payment under Accidental Death, Permanent Total Disability & Permanent Partial Disability would be restricted to 50% for spouse & 25% for child, provided spouse & child are covered under the policy.

Exclusions in Bajaj Allianz Premium Personal Guard Accident Plan

1. Accidental Bodily Injury that You meet with: 
  • Through suicide, attempted suicide or self inflicted injury or illness. 
  • While under the influence of liquor or drugs.
  • Arising or resulting from the insured person(s) committing any breach of law with criminal intent. 
  • Whilst engaging in aviation or ballooning, whilst mounting into, dismounting from or traveling in any balloon or aircraft other than as a passenger (fare paying or otherwise) in any duly licensed standard type of aircraft anywhere in the world. 
  • Whilst participating as the driver, co-driver or passenger of a motor vehicle during motor racing or trial runs. 
  • As a result of any curative treatments or interventions that you carry out or have carried out on your body. 
  • Arising out of your participation in any naval, military or air. force operations whether in the form of military exercises or war games or actual engagement with the enemy, whether foreign or domestic.

2. Your consequential losses of any kind or your actual or alleged legal liability. 

3. Venereal or sexually transmitted diseases. 

4. HIV (Human Immunodeficiency Virus) and/or any HIV related illness including AIDS (Acquired Immune Deficiency Syndrome) and/or mutant derivatives or variations thereof however caused.

5. Because of nuclear energy and its radiation.

Conclusion:

Accident is unpredictable, uncertain and unintentional, but having accidental insurance can be used as a shield to protect yourself from financial losses. 

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