A collaboration between a non- banking financial institution of India (Sundaram finance), and the oldest general insurer from UK (Royal and Sun alliance Insurance plc.) formulated Royal Sundaram Alliance insurance company. The company is known in providing the best general insurance policies for products in marine, liability, fire, engineering and business interruption risks.
Accidents are never invited, they just occur suddenly. This nightmare can cause lot of financial crisis. It affects the person and the family both financially and emotionally. Hence, our company is offering Royal Sundaram Personal accident insurance policy to take care of the expenses during the hard times. You get help from us during the recovery time as well as after that till your life become normal through our additional benefits (extra coverage and protection).
Company bagged the Celent model insurer Asia award in 2013. In 2014, the company had another award in its achievement’s bag of innovative claims management system. We have clients all across Asia who is happy with our policy benefits. We aim to make every insurer relaxed and stress free. We are accomplishing this through our agents and employees and it is indeed a great accomplishment for us. We are the team who are aiming to support humanity financially and emotionally by giving extra benefits in affordable premiums.
For our customers, we get the best of online facilities to ease the work. The payments can be done via credit/ debit card and net banking. To check the status of your insurance policy, you just have to log in and enter your policy number. All the details can be seen with a mouse click. Also, to extend the policy cover or pay any additional premium for extra benefits also can be done online. If you get any doubt, your query can be answered instantly through our online support agents. In short, we do everything online for your comfort and send the agent at your place for the documentation work.
The personal accident policy can be picked up by any individual with the age group of 18- 65 years of age. The insured person can get his/ her dependent children in the age group of 5- 21 years in the same policy cover (children will be insured). There are two options to avail this plan.
Here the sum assured range from 5 lakh to 75 lakh.
The sum insured will be 100 % for primary individual, 50 % for spouse and 25 % for child (per child will be insured).
The policy plan mentioned above will be covering the following points:
a) Under personal accident coverage, you should be giving the name of the nominee to whom the hundred percent of the sum capital will be given in case of accidental death.
b) Permanent and temporary total disablement: In case of permanent disability the total sum will be given while in case of temporary disablement, weekly income benefit will be given to the maximum of 104 weeks.
c) If during the accident, insured person gets the partial permanent disablement; then the extent of loss decides the percentage of the sum to be given. The details of permanent partial disability is given in terms and conditions, which you read before signing the documents or on our online page to get the better understanding of it.
d) Accident hospitalization cost, education grant for the children (@ of Rs.5000 per child) and transportation of mortal remains in case of unfortunate death are all covered in the plan as extra benefits.
Note: There are few exclusions of the Royal Sundaram personal accident insurance policy which you should know before taking the plan. Any kind of suicidal attempt or injury due to any fight or criminal act is not included in the insurance. Also, the disability, death or injury due to any war, nuclear weapons or armed forces is also not included. Any kind of liquor or drug addiction is not entertained.
There are few more positives of this policy. Under the individual personal accident policy, a discount of ten percent will be given on the insurance of three or more family members. Also, if you have renewed the policy without any breaks in the middle (in the claim- free year), then there can be increase in the total permanent disablement or death from 5 – 25 % depending on the terms and conditions of the plan taken.
You still need a personal accident policy because accidents are likely to happen both inside and outside home. There will be factors which are not covered in the health policy and hence to avoid any kind of financial stress during the recovery of accident or unfortunate death, we will take care of the finances..
Why not? Your wife is eligible for personal accident policy coverage under you as accidents can happen anytime; even at home. Fifty percent of the sum insured can be given in case of any mishap solely due to accident. You can also opt for your children’s coverage under your policy cover which will be up to twenty five percent of the sum insured by you. Well, moving ahead to the coverage for parents, that cannot be included in your insurance. They will have to take the personal accident policy individually.
All the details of compensation will be provided in the terms and condition page of the policy which you can go through before going ahead with the policy. Also, there is no tax benefit related with the personal accident policy.