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Royal Sundaram Individual Personal Accident Insurance

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Royal Sundaram Individual Personal Accident Insurance Plan

Royal Sundaram Individual Personal Accident Insurance Plan offers financial backing to the insured’s family in case of disability or death of loved one due to an accident and comprehensive worldwide cover up to 75 lacs. The plan is available on Individual and Family Basis.
 

​How does the plan work?

Under this plan, coverage for self is mandatory, and it’s also available for available for self, spouse and dependent children. Persons between the age group of 5 - 65 years can be covered under this policy. Renewals accepted lifelong for self and spouse & Up-to 21 years for dependent children. 
The plan offers Flexible Sum Insured options from Rs. 5 lacs to Rs. 75 lacs. The plans are available on Individual Basis and Family Basis. If family plan is chosen then the Sum Insured shall be available as under:
  1. Primary Insured: 100% of the Sum Insured.
  2. Spouse: 50% of the Sum Insured.
  3. Child: 25% of the Sum Insured per child.
Coverage Benefits illustrated below:- 
 

Coverage

Sum Insured

Accidental Death

500000

1000000

1500000

Permanent Total Disablement

500000

1000000

1500000

Permanent Partial Disablement

500000

1000000

1500000

Temporary Total Disablement (Weekly Benefit 3000 x 104 weeks)

312000

312000

312000

Education Grant

10000

10000

10000

Transportation of Mortal Remains

5000

5000

5000

 

Coverage

Sum Insured

Accidental Death

2000000

2500000

4000000

5000000

7500000

Permanent Total Disablement

2000000

2500000

4000000

5000000

7500000

Permanent Partial Disablement

2000000

2500000

4000000

5000000

7500000

Temporary Total Disablement (Weekly Benefit - 5000/10000* x 104)

520000

520000

1040000

1040000

1040000

Medical Exp – Accident Hospitalization

200000

250000

400000

500000

750000

Education Grant

10000

10000

10000

10000

10000

Transportation of Mortal Remains

5000

5000

5000

5000

5000



 

Key Features of Royal Sundaram Individual Personal Accident Insurance Plan

  • Worldwide cover
  • No medical test 
  • No income proof – up to sum insured 10 lacs
  • Instant cover
  • Lifelong Renewability
  • Tax Benefit under section 80D of Income Tax Act.
 

Premium illustration of Royal Sundaram Individual Personal Accident Insurance Plan

Premium Table

Sum insured

500000

1000000

1500000

2000000

2500000

4000000

5000000

7500000

Premium for Self (in Rs.)

768

1539

2309

4070

5088

11332

14165

21247

Premium for Spouse (in Rs.)

384

770

1155

2035

2544

5666

7083

7083

Premium for Child (in Rs.)

193

385

577

1018

1272

2833

2833

2833



 

What is covered in Royal Sundaram Individual Personal Accident Insurance Plan?

The plan will cover:-
  • Accidental Death: - In the unfortunate event of death of the Insured person, the entire Sum Insured will be paid to the Insured person's nominee. Hence it’s essential, that insured provides a nominee for every family member insured under Person
  • Permanent Total Disablement:- In the unfortunate event of permanent total disability of the Insured person, the entire Sum Insured will be paid to the Insured person.
  • Permanent Partial Disablement:- In the unfortunate event of permanent partial disability of the Insured person, a certain percentage of the Sum Insured will be paid to the Insured person. It is determined by the extent of loss. 
  • Temporary Total Disablement:- Weekly benefit for accidents resulting in home confinement up-to 104 weeks (Weekly Income Benefit)
  • Accident Hospitalisation:- Hospitalisation expenses due to Accident resulting in claim for Death/Disablement (Applicable only if proposer has opted for Sum Insured of Rs.20 lacs and above).
  • Education Grant: - Special Free Benefit of Education Grant of Rs. 10000/-(@ Rs. 5000 per child)
  • Transportation of Mortal Remains:- In the unfortunate event of accidental death, the nominee gets a sum of up to Rs. 5000 towards transportation of the mortal remains to residence.
  • Tenure:  One Year 
 

Other Features/Benefits of Royal Sundaram Individual Personal Accident Insurance Plan

  • Premium discount – on insuring 3 or more members under the same plan 
  • Claim free year - In a claim-free year, if the Policy is renewed without any breaks, the benefit under Death and Permanent Total Disablement coverage will be increased by 5%, up to a maximum of 25%.
  • Online chat option – for any solicitation/further details of the plan.
  • Free look period – If the policy holder is not convinced with the terms and conditions of the policy, s/he can cancel the same within 15 days of the receipt of policy document.
 

What is not covered in Royal Sundaram Individual Personal Accident Insurance Plan?

The following type of accidents are generally not covered:-
  • From intentional self-injury, suicide or attempted suicide
  • Whilst under the influence of intoxicating liquor or drugs
  • Whilst engaging in sporting activities (aviation or ballooning for example)
  • Directly or indirectly caused by venereal disease or insanity
  • Childbirth or pregnancy related
  • War, invasion, act of foreign enemy, hostilities, civil war and many more
  • For complete list of exclusions please refer policy wordings. 
 

Frequently Asked Questions

What is an Individual Personal Accident Policy?
An insurance policy which, in return for regular premiums, pays a specific sum in the event of death, loss of sight or limbs or other permanent disablement due to an accident. This policy is not an indemnity policy, but a benefit policy. This implies that the promised sum insured will be paid in full in the event of the occurrence of the peril.

How is accident defined?
Accident means any sudden, unintended and fortuitous external and visible event, which might cause bodily injury or which leads to a physical disability or death.

Why do I need an accident policy?
Accidents don’t come scheduled. They happen anytime and anywhere. The personal accident policy cover a number of eventualities, including train and road accidents, plane crashes, and even a slip in the bathroom. In the event of happening the policy compensates to meet the expenses incurred during this period subject to maximum of sum insured.

What is the basis of determining the sum insured?
Occupation nature, income level and age are the main factors which play a vital role in determining the sum insured. The sum insured offered is generally the certain times of the annual income

My spouse is a housewife .Can she be covered under personal accident policy?
Accidents can happen anywhere and at home too, hence she is eligible for cover of 50% of sum insured opted by the proposer. 

Can I cover my children and parents under personal accident policy?
Yes, Children are eligible for cover of 25% of Sum Insured opted by the proposer & Parents cannot be covered under the policy.

Is there any additional benefits from this policy?
This personal accident insurance policy would compensate the insured person for loss of income in case of temporary or permanent disablement either of partial or total damage. The sum insured will increase by 5% every year and not exceed beyond 25% at the time of renewal for every claim free year.

 

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