IFFCO Tokio Individual Accident Insurance Policy

Key Features

• It covers accidental death, total permanent disablement and loss of sight.
• It covers education benefit, employment benefit and ambulance benefit.
• This policy is available on individual basis, family basis and group basis.
• For temporary total disablement, benefit is given up to 1% of sum insured per week or maximum up to Rs 6000.
• For partial disablement in case of an accident, benefit is given up to 5% to 40% of sum insured.

Benefits:

• Discounts can be availed if groups are covered.
• Cumulative bonus can be availed if claim free renewals are done.

Details about Premium

• Premium depends on age, coverage and sum insured chosen.

Policy Details

Free look period: If the policy holder is not happy with the terms and conditions of policy, he/she can cancel the policy giving the reason for cancellation of policy. Policy can be withdrawn within 15 days from the date of commencement.

Grace period:If the payment is due on renewal of the policy, grace period of 30 days is given to the policyholder to make the payment.

Portability: Thepolicy can be transferred as per IRDA regulations.

Documents Required

In order to buy the policy, a proposer needs to fill up an ‘Application form/ proposal form’ by citing accurate medical history along with the address proof. In some cases, medical examination may be required, based on the sum assured and the age of the person.

Eligibility Criteria

This policy can be bought by persons in the age group of 5-70 years. Group coverage is provided. Groups can be employees of any organization but shouldn’t be formed specially to buy insurance.

Inclusions

• Ambulance charges are covered up to Rs 1000 per accident.
• Education expense are covered up to 10% of sum insured or Rs 5000 till the age of 23 years for one child and for more than two it is covered up to 10% or maximum up to Rs 10,000.
• In case of loss employment Rs 15,000 or 1% of sum insured is paid.

Exclusions

• Dental treatments are excluded.
• Sexually transmitted diseases are excluded.
• Genetic or mental disorders are excluded.
• Persons engaged in hazardous activities are excluded.