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Oriental Insurance Personal Accident Policy- UIN HLT/OIC/P-P/V.1/456/13-14

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Oriental Insurance Personal Accident Policy Summary

Despite taking each and every possible precautions, accidents still occur because of misfortune. We can be vulnerable towards the risks occurring due to accidents but it's possible to get secured financially with the best personal accident policy. Oriental Insurance comes up with an exclusive personal accident plan with 6 main benefits.
 
Plan name Oriental insurance Personal Accident Policy
Policy type Personal Accident Plan
UIN IRDA/NL-HLT/OIC/P-P/V.1/456/13-14

Key Features of Oriental Insurance Personal Accident Policy

  • 100% of Capital Sum Insured(CSI) will be provided in the case of Accidental Death.
  • 100% of Capital Sum Insured(CSI) will be provided in the case of Permanent Total Disablement.
  • Maximum of 50% payout of Capital Sum Insured(CSI) in case of Permanent Partial Disablement.
  • Rs. 20,000 or 1% of sum insured shall be given in the case of temporary total Disablement.

Oriental Insurance Personal Accident Policy- Benefits

Accidental death: If the policyholder dies in an accident then the sum-insured will be given to the nominee as ‘Death Benefit’.

Permanent Total Disablement: If the insured is suffering from permanent total disablement due to an accident, he/she is entitled to receive capital sum insured(CSI) stated as per the schedule. What constitutes Permanent Total Disability in this plan - know more.

Permanent Partial Disablement: This term means a partial or semi form of total disability. Payout in this term merely depends on the severity of disability that occurred because of an accident. For detailed information related to this disability - click here.

Temporary Total Disablement: Weekly compensation shall be given for the loss of income in this benefit. Maximum amount up to Rs. 20,000 or 1% of sum insured shall be given in this benefit for up to max 100 weeks.

Transportation of mortal remains: This is applicable in the event of death of the insured. The company shall reimburse the expenses incurred for transporting the insured's dead body to the place of residence. Payout of 2% or Rs. 2,500 whichever is less shall be given by the company in this scenario. Funeral expenses shall also be included in this feature. 

Education fund: This benefit is applicable in the case of accidental death and permanent total disablement of the insured. Dependent child of the insured shall get this benefit on fulfillment of the required criteria which mainly includes
  • If the insured person has one dependent child below the age of 23 years, an amount equal to 10% of the capital sum insured shall be provided. Maximum amount provided is Rs. 5,000.
  • If the insured person has more than one dependent child below the age of 23 years, an amount equal to 10% of the capital sum insured shall be provided. Maximum amount provided is Rs. 10,000.
Note* The benefit under this extension will be available on the basis of capital sum insured, cumulative bonus shall not be included under this.

The age of 23 years shall be counted on the date of accident not in the beginning of the policy year.

Exclusions in Oriental Insurance Personal Accident Policy

The Company shall not be liable under this Policy for:
  • Payment of compensation in respect of Death, Injury or Disablement of the Insured from intentional self-injury, suicide or attempted suicide.
  • Under the influence of intoxicating liquor or drugs.
  • Engaging in Aviation or ballooning or whilst mounting into, dismounting from or traveling in any aircraft other than as a passenger (fare paying or otherwise) in any duly licensed standard type of aircraft anywhere in the world.
  • Directly or indirectly caused by venereal disease/s, or insanity.
  • Arising or resulting from the insured committing any breach of law with criminal intent.
  • Payment of compensation in respect of Death, Injury or Disablement of the Insured due to or arising out of or directly or indirectly connected with or traceable to: 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 whatever nation, condition or quality so ever.
  • Payment of Compensation in respect of death of, or bodily injury or any disease of illness of the Insured.
    • Directly or indirectly caused by or contributed to by or arising from ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. For the purpose of this exception, combustion shall include any self sustaining process of nuclear fission.
    • Directly or indirectly caused by or contributed to by or arising from nuclear weapon material.
  • Pregnancy Exclusion Clause: The Insurance under this Policy shall not extend to cover death or disablement resulting directly or indirectly caused by, contributed to or aggravated or prolonged by child-birth or from pregnancy or in consequence thereof.

Conclusion:

Oriental Insurance Personal Accident Policy will protect you from such uncertainties in such a way. This is the reason you need to buy a Personal accident plan in order to sustain from financial burden.

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