This health insurance plan caters to corporates who wish to insure their employees against accidental death, permanent total disablement, permanent partial disablement, and loss of limbs and eyes.
Features of ICICI Lombard Group Personal Accident Plan:
|Entry Age||The last birthday of the insured will be considered.|
|Sum Insured||Based on the earning capacity of the person insured, the sum insured can be determined.|
|Policy Tenure||12 months from the state date of the cover period.|
|Renewability||Ordinary renewal except in case of misrepresentation, fraud, moral hazard or non-cooperation on the insured’s part. The policy will be renewed as a separate contract under the prevailing group accident product. If the same product is not available, then the policy will renewed with its closest substitute.|
|Claims||Claims will be settled within 30 days from the date of receipt of all documents. Claims will be paid through electronic fund transfer.|
|Premiums||The amount of premium payable will depend upon the occupation of the person insured. It will also depend on the benefits opted for under the policy.|
|Benefits||Benefits are customisable as per the needs of the corporate and the group insured. General coverage includes:
|Documents Required for Claim||
|Main Exclusions||The plan will not cover costs arising out of self-injury, suicide, war, nuclear hazards, pregnancy, and venereal disease.|
|Group discount||Based on the size of the group, discounts are available. The discounts that can be availed depend on a set slab that increases with the size of the group insured.|
|Grace period||The policy must be renewed before or on the date of the expiry of the previous year’s policy.|
|Extension||The policy extends to medical expenses incurred.|
GST rate of 18% applicable for all financial services effective July 1, 2017.
Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.