Post Office Accidental Insurance Policy: Two types of policies are being offered by the India Post Payments Bank of the Post Office. In which you are given an insurance cover of up to Rs 10 lakh in just Rs 299 and Rs 399.
New Delhi:Post Office Insurance Policy: Nowadays many accidents are seen in the run-of-the-mill life. To protect yourself as well as your family from these accidents, every person should take accident insurance ie Accidental Insurance Policy. In this scheme, not only financial help is given for your treatment at the time of an accident, but if the policyholder dies in an accident, then his family is also given the benefit of this insurance. Many companies are offering different types of insurance policies. But the Indian Postal Department has come up with a special insurance policy for its customers.
The Postal Department has started this scheme for its customers under the name of Group Accident Guard Policy. You will get many benefits in this policy. So let’s know about it…
Account holders of India Post Payments Bank will get benefits
Two types of policies are being offered by the India Post Payments Bank of the Post Office. In which you are given an insurance cover of up to Rs 10 lakh in just Rs 299 and Rs 399. The benefit of this scheme will be given only to the account holders of India Post Payments Bank. This means that if you want to get this insurance policy done, then you will have to open your account in India Post Payment Bank.
Rs 10 lakh coverage on death of the policyholder
Under this policy, if a policyholder is injured in an accident, then he is given expenses from hospitalization to treatment. Meanwhile, if the policyholder dies in an accident, then a compensation of Rs 10 lakh is given for the survival of the policyholder’s family and children.
Benefits of insurance policy of Rs 399
According to this accident insurance policy, you will have to deposit a premium of Rs.399 on an annual basis. Account holders of India Post Payments Bank whose age is between 18 to 65 years can take advantage of this insurance scheme. Under this plan, insurance coverage of 10 lakhs is given in case of partial disability, complete disability or accidental dismemberment or paralysis of the policyholder at the time of accident. In this, medical expenses up to IPD 60 thousand and accident medical expenses OPD up to 30 thousand (fixed or actual claim, whichever is less) are given.
Daily cash or daily cash is given to the policyholder for 10 days during hospitalization for one thousand rupees per day. Along with this, 25 thousand rupees are given for the transportation of family members to and from the hospital. In this, in case of death of the policyholder after an accident, a coverage of 10 lakh rupees is given to the family of the policyholder. At the same time, on the death of the policyholder, five thousand rupees or money is given for the actual expenses for his last rites.
Apart from this, education benefits are also given to the children of the policyholder after his death. Under this, a maximum of two children of the policyholder will get 10 percent of the policy or one lakh (whichever is less) for education.
Benefits of insurance policy of Rs 299
Accident insurance policy of Rs.299 also gives all those benefits which are available in insurance policy of Rs.399. But in Rs 299, education benefit is not given for the education of the children of the deceased policyholder. This is the only major difference between these two policies.
