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Shriram General Personal Accident Insurance Plan

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Shriram General Individual Personal Accident Insurance Plan Summary

Accidents occur because of bad luck which affects the person physically, but we can be financially secured by buying a personal accident insurance plan. We have heard about ‘Prevention is better than cure’ but do we really follow this saying?. Taking all such things into consideration Shriram General Insurance Company has come up with an exclusive Individual Personal Accident Insurance Plan with the list of advantages mentioned in the ‘benefits section’ below.
 
Plan name Individual Personal Accident Insurance Plan
Policy type Personal Accident Insurance
UIN SGLPAIP21477V022021
 
You can compare and get the best personal accident insurance plan of Shriram General Individual Personal Accident Insurance Plan or other companies in quick & simple steps.
 

Shriram Individual Personal Accident Insurance Plan - Premiums

 
In the below table the Sum Insured and the premiums are given according to the risk classes along with taxes added (18% of GST on Premium)
 
 
Sum Insured Risk 1 Risk 2
5,00,000 280
392
7,00,000 392 549
10,00,000 561 785
 
Risk Classes are divided in two parts based on the type of employment or occupation. 
Two Risk Classes are available based on the occupation of that insured person.
 
Risk Level I
Risk Level II
Administrative/Managing functions
Manual labor
Accountants
Garage mechanic
Doctors
Machine operator
Lawyers
Paid driver(car/truck/heavy vehicles)
Architects
Cash carrying employee
Teachers Builder
Other similar occupations
Contractor
  Veterinary doctor
  Other similar occupations
 

Key Features of Shriram General Individual Personal Accident Insurance Plan

  • 100% payout in case of ‘Accidental Death’.
  • 100% payout in case of ‘Permanent Total Disablement’.
  • Maximum 50% payout in case of ‘Permanent Partial Disablement’.

Benefits in Shriram Individual Personal Accident Insurance Plan

 
Accidental death:  In case of Accidental Death of the insured, 100% of cover amount will be paid 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 100% of the cover amount as payout.  This refers to a person suffering an injury due to an accident which occurs during the policy period which results in permanent total disablement within 12 months from the date of accident. Conditions related to Permanent Total Disablement are as follows. 
 
 
Disability % of Cover Amount
Loss of sight of both the eyes
100%
Loss of two entire hands or two entire feet 100%
Loss of one entire hand and one entire foot
100%
Loss of sight of one eye and loss of one entire foot or hand
100%
Complete loss of hearing of both ears and complete loss of Speech
100%
Complete loss of hearing of both ears and loss of one limb
100%
Complete loss of hearing of both ears and loss of sight of one eye
100%
Complete loss of speech and loss of one limb
100%
complete loss of speech and loss of sight of one eye
100%
 
Permanent Partial Disablement:  If the insured is suffering from Permanent Partial Disablement then the payout completely depends on the severity of the disability. Maximum of 70% of the sum insured shall be paid for this feature. Conditions included in Permanent Partial Disablement with the % of payout are as follows.
 
 
Nature of Disability
% of Cover Amount
An arm at the shoulder joint 70%
An arm above the elbow joint
65%
An arm beneath the elbow joint
60%
A hand at the wrist
50%
A thumb
25%
An index finger
10%
Any other finger
5%
A leg above mid-thigh
70%
A leg up to mid-thigh
60%
A leg up to beneath the knee
50%
A foot at the ankle
45%
A large toe
40%
Any other toe
5%
An eye
50%
Hearing of one ear
30%
 
Temporary Total Disablement: Weekly compensation shall be given for the loss of income. Payout of 1% and a maximum amount up to Rs. 50,000 per week shall be given in this benefit until he/she gets back to work. The compensation will be provided for a maximum of up to 100 weeks.
 
Additional Benefits
 
Repatriation of mortal remains: In this benefit, lump sum payment of Rs. 5,000 or 2% of cover amount shall be given by the company for transporting the mortal remains from the place of accident to the insured’s residence or burial ground.
 
Children Education Benefit: This feature is applicable in case of insured’s Accidental death and Permanent Total Disablement. One time payment of Rs. 5,000 shall be provided for each child up to 2 dependent children.
 
Hospital daily allowance: Daily cash allowance of Rs. 1,000 is available for a maximum of 30 days in case of an Accidental bodily injury. The Maximum amount paid under this feature will be Rs. 30,000 even if there is more than one claim.
 
Modification of Residential Accommodation and Vehicle: This feature is applicable in the case of injury caused due to an accident. The company shall reimburse an amount up to the sum insured to modify the insured person’s home accommodation and vehicle in case of insured having suffered from Permanent Total Disablement. Maximum payout under this section is Rs. 50,000 for modification of single residential accommodation/vehicle.
 
Ambulance Charges: The company shall provide Rs. 2,500 per claim for Ambulance Charges in order to carry the insured person from the site of accident to the nearest hospital.
 
Accident Hospitalization Cover: In this feature if the insured is hospitalized because of an accident for more than 24 hours then the company will reimburse the expenses. The reimbursement includes hospital accommodation, emergency room, intensive care unit, nursing care, the attention of medically qualified staff, Charges for laboratory tests, fees of physician, prescription medicines or drugs, therapeutics, anesthetics, transfusions, artificial limbs or eyes, x-rays, prosthetic appliances, undergoing medically necessary procedures and medical consumables, ambulance charges.
 

Exclusions in Shriram Individual Personal Accident Insurance Plan

 
  • Through suicide, attempted suicide or Intentional self-inflicted injury or illness.
  • While under the influence of Intoxication i.e. Liquor or drugs.
  • Arising or resulting from the insured person Insanity or immorality, committing any breach of law with criminal intent.
  • While engaging in Dangerous hobbies such as aviation or ballooning, while 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.
  • While  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 insured persons carry out or have carried out on insured persons.
  • Arising out of insured person 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.
  • Any injury/disablement/death directly or indirectly arising out of or contributed to any pre-existing condition.
  • Pregnancy, resulting in childbirth, miscarriage, abortion, or complications arising out of any of these.
Conclusion:
 
Shriram General Individual Personal Accident Plan ensures financial safety from any misfortune due to an accident. After taking this plan you don't need to burn your pockets if such an event takes place. 
 
You can also compare and buy the best mediclaim policy at MyInsuranceClub. Our trained and certified team will help you get the right one for your family.
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