Accident Shield Insurance

ROYAL SUNDARAM ALLIANCE INSURANCE COMPANY LIMITED

Royal Sundaram Alliance Insurance Company Limited was the first private insurer in India to be licensed post privatization in 2001.

They are a result of a joint venture of Sundaram Finance, which is one of the most respected non-banking financial institution in India and RSA, one of the oldest and second largest general insurer in the UK.

Apart from health insurance plans for individuals and families, they also have a plan to take care of accidents, which is called the Accident Shield Insurance.

The SALIENT FEATURES of this policy are:

· It is designed to cover death, permanent total disability and permanent partial disability

· This policy gives a Death Benefit wherein in the case of an unfortunate event of fatal accident, the sum insured is paid to the nominee

· There is also a Permanent Total Disablement Benefit wherein in the unfortunate case of an accident resulting in PTD, the insured is paid the sum insured

· Permanent Partial Disablement Benefit is where if there is PPD due to an accident, the insured is paid a certain percentage of sum insured based on the disability

· An Education Grant is also available under this policy where in the event of death or PTD of any of the insured parent due to an accident, the company pays an educational grant for the dependent children who are in full term education

· The education grant is Rs.5000 per policy in the case of one dependant child and Rs.10000 per policy in the case of more than one dependant child

· There are no medical examinations to enroll for this policy

· Coverage up to Rs.10 lacs

COVERAGE:

· Any person who is a resident of India can be covered under this policy as long as s/he is between the age of 18 years and 70 years

· This insurance is also available for a spouse with a maximum age of 70 years

· Dependent children can also be covered under this policy with a minimum age of 5 years and maximum of 18 years

PREMIUMS:

COVERAGE	SILVER PLAN (Rs.)	GOLD PLAN (Rs.)	PLATINUM PLAN (Rs.)
Death	5 lacs	7.5 lacs	10 lacs
PTD	5 lacs	7.5 lacs	10 lacs
PPD (as a %)	5 lacs	7.5 lacs	10 lacs
Transportation expenses of mortal remains	10000	10000	10000
Education grant for one child Rs.10000 (up to maximum of 2 children in event of accidental death or PTD of either parent insured)	10000	10000	10000
1 year Premium	589/-	834/-	1080/-
2 year Premium	1080/-	1571/-	2062/-

· The premium amounts given above are inclusive of Service Tax of 10.3%

· The premium paid towards the health insurance is exempt from Income Tax under section 80D

EXCLUSIONS:

· Payment of compensation will not be given in respect of death, injury or disablement of the insured person is caused

· from intentional self injury, suicide or attempted suicide

· whilst under the influence of intoxicating liquor or drugs

· whilst engaging in aviation, whilst mounting into or dismounting from an aircraft other than as a passenger

· caused by venereal diseased, AIDS or insanity

· any person committing any breach of law with criminal intent

· insured suffering from any pre-existing condition

· arising out of war, invasion, civil war, rebellion, revolution, etc

· from ionizing radiation or contamination by radioactivity from any nuclear fuel or waste

· arising from nuclear weapon material

· contributed by child birth or from pregnancy

· whilst working in underground mines, explosives, engaged in activities such as skiing, racing, ice-hockey and similar hazardous activities

The Royal Sundaram health insurances can either be bought online from www.royalsundaram.in or from their toll free number 1800-345-8899

ADDITIONAL BENEFITS of buying a health insurance policy from Royal Sundaram are:

· If the policy is claim free and is renewed without any break, the benefits under death and Permanent Total Disablement coverage are increased by 5% for every claim free year up to 25%

· 10% family discount

· Cashless facility towards claim reimbursements

· 24-hour helpline number

· Ambulance referral facilities

· Online access to medical and claim information

· Online storage of medical records

· Tie up with over 3000 hospitals across the country