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Chola MS Accident Protection Plan

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Chola Accident Protection Plan

 

Chola Accident Protection Plan is a Personal Accident Insurance Policy which offers compensation in case of Accidental Death, Permanent Total Disability and Permanent Partial Disability. 

 

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 and dependent children till 25 years of age.  This plan covers Accidental Death, Total and Permanent Disability as well as Permanent Partial Disability.

 

There is an additional benefit of Daily Hospital Cash Benefit, where there is a daily cash allowance for hospitalization due to an accident.

 

The additional benefits of this plan like:

·         There is a Weekly Compensation for loss of Income due to Disability

·         There is a Fixed Remuneration that is paid for Broken Bones or fracture due to an accident

·         The expenses for Modification of Residence Vehicle or Accommodation is also paid under Total and Permanent Disability

·         Cost of Transporting Mortal Remains and Performance of Death Ceremony is also paid for under this plan

·         Ambulance Hiring Charges is also covered under this plan

·         Family Transportation Benefit to the Life Insured at the place of accident is also covered under this plan

 

 

Key Features of Chola Accident Protection Plan

 

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

§         This plan covers

o         Accidental Death

o         Total and Permanent Disability

o         Permanent and Partial Disability

o         Dismemberment like loss of limbs, etc.

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

§         In this Plan, there is a Daily Allowance for Hospital Cash Benefit in case of hospitalization due to an accident

§         This Plan pays for Weekly Compensation for loss of income due to a disability caused by an accident

§         There is a Fixed Component that is payable in case of Broken Bones or Fracture due to an accident.

§         Under Permanent Total Disability, the expenses incurred for modifying residential accommodation or own vehicle is also paid under this plan

§         In case of an emergency, the cost of transportation of the family member to the location of the insured incase of Accidental Death or Permanent Total Disability is paid for

§         If the Child is covered under this plan, there is a Special Compensation that is paid towards the tuition fees if the insured is not able to attend school / college due to an accidental injury

§         This plan also pays for repatriation of Mortal Remains from the accident site to hospital, residence or cremation ground

§         Cost of Cremation Ceremony to perform religious ceremonies up to the time of or post-cremation is also covered under this plan

§         This policy compensates for injuries occurred anywhere in the world

 

 

What is covered in Chola Accident Protection Plan?

 

All medical expenses due to the following are covered:

·         Accidental Death

·         Total and Permanent Disability

·         Permanent and Partial Disability

·         Dismemberment like loss of limbs, etc.

 

 

Additional Benefits of Chola Accident Protection Plan

 

There are certain additional benefits available in this

·          Daily Hospital Cash Benefit- for hospitalization due to an accident

·         There is a Weekly Compensation for loss of Income due to Disability

·         There is a Fixed Remuneration that is paid for Broken Bones or fracture due to an accident

·         The expenses for Modification of Residence Vehicle or Accommodation is also paid under Total and Permanent Disability

·         Cost of Transporting Mortal Remains and Performance of Death Ceremony is also paid for under this plan

·         Ambulance Hiring Charges is also covered under this plan

·         Family Transportation Benefit to the Life Insured at the place of accident is also covered under this plan

 

 

Eligibility and Restrictions of Chola Accident Protection Plan

 

 

Minimum

Maximum

Sum Assured of Life Insured (in Rs)

5,00,000

25,00,000

Policy Term (in years)

1

Entry Age of Life Insured/Spouse (in years)

18

69

Entry Age of Children (in years)

0

25

Renewable till Age (in years)

-

70

       

 

 

Family Floater Policy will cover

 

In case of Family Package option, it covers Self, Spouse and Dependent Children. Dependent children up to 25 years of age can be covered by the policy under family option.

 

 

Tax Benefits of Chola Accident Protection Plan

 

There is no Tax Benefit under this plan

 

 

Exclusions - What is not covered in Chola Accident Protection Plan?

 

This policy does not provide benefits for any Death, Disability, expense or loss incurred in result of any injury attributable directly or indirectly to the following:

§         Non Accident Cases are not entertained in this plan

§         Intentionally self-inflicted injury, suicide or any attempt threat while sane or insane

§         War, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, mutiny, military or usurped power, seizure, capture, arrests, restraints and detainment of all kings, princes and people of whatsoever nation condition or quality

§         Participation in naval, military or air force operations whether in the form of military exercises or war games or actual engagement with the enemy with foreign or domestic

§         Loss sustained or contracted in consequence of the insured being under the influence of alcohol or drugs unless administered on the advice of a physician

 

 

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 Chola MS General Insurance

 

Top up Healthline

Hospital Cash

Family Healthline

Critical Healthline

Individual Healthline

Individual Health

Family Health

 

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