Tata AIG Personal Accident Insurance

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Tata AIG Personal Accident Insurance

Life is full of unpredicted and unprecedented events and nobody knows when it can take any repulsive turn. Any misfortune event such as Death, Accidents, injury or disablement can wreak havoc both financially and emotionally. It is then, when the magnitude of a personal accident insurance plans is comprehended.

Tata AIG's assortment of personal accident insurance plans gratifies the needs of copious customer who wants to safeguard themselves and their family against mishap in future and related expenses to it.

 The various plans offered by TATA AIG for Personal Accident insurance plans are 

    1. Accident Guard Plans
    2. Injury Guard Plans
    3. Income Guard Plans
    4. Secured Future Plan
    5. Secured Income High Plan
    6. Maharaksha-Personal Injury Plan.

1. Accident Guard Plans

Plan Feature

  • Multiple options to opt for cover as per requirement in multiple units of Rs. 5 lacs up to Rs. 1 crore. Additional benefit of lifelong renewal provided premium is paid without any break.
  • Plans available for any person for Self & Spouse between the age group of 18-65 yrs and their children aged between 6 months to 18 yrs
  • Free Look Period of 15 to evaluate the terms and conditions of this Policy and in case of any disagreement, policy holder has the option of cancelling the Policy stating the reasons for cancellation.
  • The plan offers a Grace Period of 30 days for renewing the Policy is provided under this Policy
  • Flexibility to enhance sum insured however is subject to underwriting guidelines of TATA AIG.
  • Option to migrate to similar Individual Personal accident policy for dependents at the specified exit age
  • Cumulative growth benefit of the principal sum for any Insured Person. The principal sum increases by 5% on each successful 

Plan coverage

The Accident Guard Plans offers multiple plan option to choose the cover as per need. 

  • Plan 1 covers Accidental Death & Dismemberment.
  • Plan 2 covers Accidental Death & Dismemberment & Permanent Total Loss of body parts Use including Permanent Total disablement.

Additional benefits plans are available based on extra premium.

  • Compensation to the quantum of 10% of principal sum insured or the actual tuition fee charged by the institution towards children's education benefit.
  • Expenses towards the repatriation of the insured person’s remains up to a maximum amount of Rs. 5,000
  • In case of a Permanent Total Disability or Dismemberment of the insured person due to any accidental injury, an amount up to a maximum of Rs. 1, 00,000 will be reimbursed towards the cost of modifying house or vehicle.
  • Double Dismemberment benefit is provided for insured children
  • In the event of an accident occurred outside 150 km of the policy holder’s residence, the transportation of family member is covered on actual basis up to a maximum of Rs. 50,000.
  • A salaried person can opt for a maximum of 10 times of Annual Income as per  Form 16 / Salary Slip / IT/ Acknowledgment whereas a self employed Person can take up to the max of 20 times of annual income as per  IT Acknowledgment /Audited P & L)
  • The number of units of Accidental Weekly Benefit cannot exceed the number of units of Accidental Death & Dismemberment

2. Injury Guard Policy

Plan Feature

  • An annual plan with Simple and uncomplicated process offered without any medical checkup.
  • Lifelong coverage based on successful renewals
  • Available for adult individuals between the age group 18-75 years and for children between the age group of 6 months-18 yrs for children with lifelong renewal facility.
  • Coverage will be reduced by 50% from the age group 71 yrs & above.
  • Plan available for an individual and / or family.
  • Comprehensive cover for Self, Spouse, parents and up to 2 dependent Children.
  • 100% principal sum insured coverage for Spouse and parents and children will have 50% of the principal Sum insured.
  • Free Look Period of 15 to evaluate the terms and conditions of this Policy and in case of any disagreement, policy holder has the option of cancelling the Policy stating the reasons for cancellation.
  • The plan offers a Grace Period of 30 days for renewing the Policy is provided under this Policy
  • Flexibility to enhance sum insured , however is subject to underwriting guidelines of TATA AIG.
  • ption to migrate to similar Individual Personal accident policy for dependents at the specified exit age

Plan coverage

  • Compensation in the event of ACCIDENTAL DEATH caused due to any consequence of injury within 365 days of the accident.
  • A proportionate compensation for any Injury occurred within 90 Days from the date of the Accident resulting in one of the losses as per Schedule of Injuries.
  • Expenses incurred towards emergency Medical services for the urgent treatment of an Injury.
  • For the cases of disablement, any expenses is incurred towards home alteration or vehicle modification, including the use of wheelchair, the plan benefits include the same.
  • A weekly benefit amount for temporary total disablement till the duration of continuous Temporary Total Disability of an Insured Person resulting from Injury.

3. Income Guard Plan

Plan Feature

  • A personal accident plan designed to endow the insurance need for salaried individual against Accidental Death, Accidental Dismemberment, and Permanent Total Loss of Use.
  • Protecting coverage to ensure the regular stream of income in cases of total disablement.
  • Available for people of age between the age 18-70.
  • Lifelong renewal plan based on successful premium payment..
  • Free Look Period of 15 to evaluate the terms and conditions of this Policy and in case of any disagreement, policy holder has the option of cancelling the Policy stating the reasons for cancellation.
  • The plan offers a Grace Period of 30 days for renewing the Policy is provided under this Policy
  • Flexibility to enhance sum insured , however is subject to underwriting guidelines of TATA AIG.
  • Option to migrate to similar Individual Personal accident policy for dependents at the specified exit age.

Plan Benefits 

  • Compensation to the quantum of 10% of principal sum insured or the actual tuition fee charged by the institution towards children's education benefit.
  • Expenses towards the repatriation of the insured person’s remains up to a maximum amount of Rs. 5,000
  • In case of a Permanent Total Disability or Dismemberment of the insured person due to any accidental injury, an amount up to a maximum of Rs. 1, 00,000 will be reimbursed towards the cost of modifying house or vehicle.
  • Double Dismemberment benefit is provided for insured children
  • In the event of an accident occurred outside 150 km of the policy holder’s residence, the transportation of family member is covered on actual basis up to a maximum of Rs. 50,000.

4. Secured Future Plan

Plan Feature

  • An exclusive protection plan with guaranteed monthly income up to 20 years.
  • Flexibility to choose plan benefits as per monthly income and tenure of the plans.
  • Worldwide coverage with no medical check up .
  • Free Look Period of 15 to evaluate the terms and conditions of this Policy and in case of any disagreement, policy holder has the option of cancelling the Policy stating the reasons for cancellation.
  • The plan offers a Grace Period of 30 days for renewing the Policy is provided under this Policy
  • Flexibility to enhance sum insured however is subject to underwriting guidelines of TATA AIG.
  • Option to migrate to similar Individual Personal accident policy for dependents at the specified exit age
  • Plan benefits
  • The plan covers multiple events of any mishap such as
    • Accidental Death
    • Dismemberment & Paralysis and
    • Permanent Total Disability.

5. Secure Income High Plan

Plan features

  • Daily benefit against hospitalization expense for maximum up to 5 days commencing from 4th day of hospitalization.
  • Regular monthly installment for next 5 years post payout of initial lump sum benefit.
  • A personal accident plan designed to endow the insurance need for salaried individual against Accidental Death, Accidental Dismemberment, and Permanent Total Loss of Use.
  • Protecting coverage to ensure the regular stream of income in cases of total disablement.
  • Available for people of age between the ages 18-70.
  • Lifelong renewal plan based on successful premium payment..
  • Free Look Period of 15 to evaluate the terms and conditions of this Policy and in case of any disagreement, policy holder has the option of cancelling the Policy stating the reasons for cancellation.
  • The plan offers a Grace Period of 30 days for renewing the Policy is provided under this Policy
  • Flexibility to enhance sum insured however is subject to underwriting guidelines of TATA AIG.
  • Option to migrate to similar Individual Personal accident policy for dependents at the specified exit age

Plan Benefit

  • In the event of accidental death, cash lump sum equal to 10% of the total cover amount.
  • The residual disposal of cover amount in 60 equal installment post payment of initial lump sum amount.
  • Optional daily hospital cash benefit for maximum 5 days in the cases of hospitalization due to accidentalinjury and requires hospitalization for more than 4 days.

6. Maha Raksha - Personal Injury Plan

Plan Features

  • Cash allowance for expenses towards ailment of accidental injury.
  • Lifelong renewal plan available for individuals between age group of 18 to 75 years.
  • Flexibility to choose hospital as per availability and convenience.
  • Fixed premium plan irrespective of age and no medical check is required for plan enrollment .
  • Free Look Period of 15 to evaluate the terms and conditions of this Policy and in case of any disagreement, policy holder has the option of cancelling the Policy stating the reasons for cancellation.
  • The plan offers a Grace Period of 30 days for renewing the Policy is provided under this Policy
  • Flexibility to enhance sum insured however is subject to underwriting guidelines of TATA AIG.
  • Option to migrateto similar Individual Personal accident policy for dependents at the specified exit age

Plan Benefits

  • Coverage for Accidental Death.
  • Plan benefit comprises of any injury resulting in fractures / Dislocation / Burns occurred within  90 Days from the date of the Accident,
  • Daily cash benefit towards expenses incurred in case of treatment of  accidental  Injury occurred anywhere in the world subject to the Deductible or Franchise .
  • For cases where the policy holder is unable to perform 3 or more Activities of Daily Living as defined in this Policy for a continuous period of 180 Days a recompense of Principal Sum insured amount is paid under the plan, provided such inability has continued for a period of 6 consecutive months at the endof this plan.

 Exclusions under the personal Accident plans

  • The personal Accident plans  excludes any pre existing disease till 4 years post commencement of the policy shall not be covered under the plan.
  • Any expense towards newly incepted disease within 30 days waiting period post commencement of plans.
  • No Claims under personal accident plans shall be accepted  towards the ailment of any disease or accidental injury suffered during participation in dangerous sports/activities.
  • Medical expenses incurred in the treatment of obesity, hormone replacement therapy, sex change , Genetic disorders, stem cell implantation and surgery.
  • Any expense towards the personal comfort and convenience item services shall be refereed as non medical expense and hence not covered under the plans.
  • Expenses on naturopathy, experimental or alternative medicine, acupressure, acupuncture, magnetic and similar therapies.
  • Any expenses towards the injury caused in events of nuclear accident, war or any other event as a consequence to War, Invasion,
  • Any dental treatment or surgery which is corrective, cosmetic or of aesthetic procedure, filling of cavity, root canal including wear and tear etc unless arising from disease or injury and which requires hospitalization for treatment.
  • Intentionally self-inflicted injury, suicide or any attempt threat while sane or insane
  • War, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, mutiny, military or usurped power, seizure, capture, arrests, restraints and detainment of all kings, princes and people of whatsoever nation condition or quality
  • Participation in naval, military or air force operations whether in the form of military exercises or war games or actual engagement with the enemy with foreign or domestic
  • Loss sustained or contracted in consequence of the insured being under the influence of alcohol or drugs unless administered on the advice of a physician
  • Any congenital anomalies or any complications or conditions arising there from
  • Any injury as a result of participation in winter sports, skydiving/parachuting, hang gliding, bungee jumping, scuba diving, mountain climbing, riding or driving in races or rallies using a motorized vehicle or bicycle, caving or pot-holing, hunting or equestrian activities, skin diving or other underwater activity, rafting or canoeing involving white water rapids, yachting or boating outside coastal waters , participation in any Professional Sports, any bodily contact sport or any other hazardous or potentially dangerous sport for which You are untrained
  • Death or injury caused by osteoporosis or pathological fracture 

Tata AIG Personal Accident Insurance- FAQs

1. How to pay a premium? What are the modes of payment available?

The Tata AIG General Insurance Company offers 2 modes of premium payment namely:

  • Cash payment at the branch
  • Online Payment

For the online payment mode, the policyholder can pay via;

  • Credit Card
  • Debit Card
  • Net banking


2. How can I check policy status for Tata AIG personal accident insurance?

Registered users can login to portal with their username and password to check the policy status.

3. What is the policy renewal process for Tata AIG personal accident insurance?

Step1: Enter your Policy Number, Expiry Date and Client ID into Renew Online portal
Step2: Calculate the premium
Step3: Select the payment option –Net Banking or Debit/Credit Card
Step4: Save/print the premium deposit receipt
Alternatively, you can pay via cash/cheque at any of the nearest branch.

4. What is the company’s process to settle claim for Tata AIG personal accident insurance?

You can register your claim online.
Upon successful completion of formalities within 7 working days the claim is settled.


5. What is the policy cancellation process for Tata AIG personal accident insurance?

Submit your policy with surrender form to your nearest branch. The refund will be directly credited into your account and the policy will stand cancelled, upon successful completion of documents.

Tata AIG Personal Accident Insurance Reviews

TOTAL REVIEWS (1)
Jayant
Faridabad
May 17, 2016

Fine Policy

I buy tata aig personal accident insurance plan. The policy coverage is high and the premium is low. Good claims and easily sanctioned due to fast service facilitate by the executives and staff members. The number of hospitals are there for fast service, even the ambulance is facilitate for free. Good investmnet.