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Residing overseas is a matter of choice for some while for some it's for employment and other purposes.
Iffco's plan is basically a travel insurance policy that will offer the required coverage in case of any mishap for Indian citizens residing overseas for employment and other opportunities. This plan offers the essential features and much more, that makes your stay abroad easy and secure.
Personal Accident: This segment of the policy provides the needful coverage for sum assured of Rs. 10,00,000/ Rs. 20,00,000 against accidental bodily injury that sometimes lead to death or permanent total disablement or translates into loss of employment within 12 months of bodily injury.
Transportation & Airfare: Under this feature you will be liable for coverage on the transportation expenses of mortal remains of a dead body back home in India. Further, it also covers the actual repayment of economy class return airfare of one attendant to go together with the mortal remains, back home in India. As per this policy, a person should file the claims for this within 90 days of completion of the journey.
Hospitalization Expenses: This part covers maximum hospitalization expenses of up to Rs 7,50,000 of the emigrants, maternity expenses up to 2,50,000 and others hospitalizations expense in the event of death or permanent disability of the emigrant.
This insurance policy is helpful if you are working or staying out of the country. This plan will offer the required financial support in certain cases when you need it the most. The features are especially designed after keeping many conditions in mind.
Employment Contingencies and Repartition costs: This segment of the policy covers your one way return airfare to India arising out of loss of employment because of rejection of a job offer by the company upon your arrival at workplace abroad. This policy also offers several additional benefits under this feature.
Legal Expenses: This part provides coverage on your litigation expenses up to Rs. 30,000 relating to emergencies involved with employment.
Reimbursement: This plan offers the reimbursement of the actual cost of transporting the mortal remains of the dead back home. It also reimburses the extra cost of economy class return airfare for one attendant to go along with the mortal remains.
Any claim in the case of war or military action that take place against the country or internal disturbace in the country to which the policyholder has gone for the work, the company will not be liable for such coverages.
The insurer will not pay in case of any claim arising after expiration of passport or visa for the policyholder.
For those claims that take place because of illness or accident that the policyholder has caused purposely, including committing or attempting suicide or as an effect of drug addiction, alcoholism and much more, the company will not pay anything.