Apollo Munich Individual Personal Accident - Standard Plan

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Apollo Munich Individual Personal Accident- Standard

	Objective			This is a basic accidental policy paying a specified sum insured upon accidental death or accidental disablement. It pays accidental medical expenses and for education of insured's child, in case insured member falls victim to accidental death or acquires permanent total disability.
Suited for			Every individual must be covered under a personal accident policy to get financial respite from rising number of accidental eventualities. Since sum insured under this policy is fixed at 10 times the annual salary of proposer, those who fulfill the eligibility conditions and earn up to Rs 5 lakh per annum may buy this policy.
What does it do?			A basic accidental cover which claims to immune against financial losses incurred due to accidental death or disablement, whether it is partial or total. Apart from these basic benefits, it covers ambulance cost to transfer insured person from site of accident to hospital or from hospital to home, family transportation to hospital and transportation of mortal remains. It allows a certain lump sum amount to support the education in case of permanent total disability or unfortunate demise of insured person. Education funding is allowed for maximum two children. It covers accidental medical expenses as well. Each benefit is capped at a specific percentage of sum insured.
Pros			Policyholder enjoys a cumulative bonus of 5 per cent for every claim-free year up to maximum of 50 per cent of basic sum insured. Family discount of 10 per cent is applicable if two or more members are covered.
Cons			There is a ceiling on maximum amount under each benefit. It does not provide any tax relief.
Our View			This policy aims to mitigate risk of loss of income in case of accidental death or accidental disability of the insured person, hence it is recommended. It should be noted that premiums payable are a function of nature of occupation that insured person is involved in. Though the premiums are higher for occupations carrying high risk, it is advised to furnish the true nature of occupation to avoid trouble at the time of filing claim, just in case.
Eligibility
Entry Age (years)
Minimum		5; 3 months for children
Maximum		69
Maximum Policy Renewal Age (years)		70
Coverage Type		Individual
Policy Term (years)		1
Sum Insured (Rs)
Maximum		50 lakh
Minimum		1 lakh
Tax Benefit		Not Available
Discount		Family discount of 10% is applicable if 2 or more family members included
No Claim Bonus		5% increase in Sum Insured would be applicable for every claim free years till it reaches to a maximum of 50% of initial Sum Insured. a cumulative bonus has been applied and a claim is made, then in the subsequent Policy Year the cumulative bonus will automatically reduce to zero.
Policy Termination		Insurance company may terminate the policy by giving a written notice of 30 days. Policyholder is allowed to terminate the policy at anytime by giving a written notice. In case no claim has been made under the policy, percentage of premium will be refunded on prorata basis
Customer Service
Address		Apollo Munich Health Insurance Company Limited Corporate Office: 10th floor, Tower B, Building No. 10, DLF Cyber City, Phase -II, Gurgaon, Haryana-122002 Registered Office: Apollo Hospital Complex, Jubilee Hills, Hyderabad - 500033
Mail to		customerservice@apollomunichinsurance.com
Call to		1800-102-0333
Network Hospitals		Http://www.apollomunichinsurance.com/our-hospital-network.aspx

 

	Scope of Cover
Accidental Death (AD)		Covered; pays Sum Insured
Permanent Total Disablement [PTD]		Predetremined percentage of Sum insured depending on nature of permanent total disablement
Permanent Partial Disablement [PPD]		Predetremined percentage of Sum insured depending on nature of permanent partial disablement
Temporary Total Disablement		weekly benefit upto maximum of 100 weeks. 1% of the Sum Insured for each week; maximum Rs 5 lakh
Emergency Ambulance		Up to Rs 2,000
Family Transportation to hospital (atleast 200 kms away) where insured is admitted		1% of AD Sum Insured; max Rs. 50000 . Restricted to one immediate member
Transportation of Mortal Remains		2% of AD Sum Insured; max Rs. 10,000
Education Fund		allowed upto 2 children. 10% of Accidental Death Sum Insured upto a maximum of Rs 20000
Accident Medical Expenses		covered upto lowest of the actual expenses, 40% of admitted claim, 10% of AD Sum Insured or Rs. 50,000

 

	Exclusions and Waiting period
Special Exclusions for Accidental death, disablement and medical expenses		Bacterial infections (except pyogenic infection which occurs through an Accidental cut or wound).Hernia
General Exclusions		Pre existing condition or any complication arising from the same.Any psychiatric or mental disorders.AIDS or any other related conditions.

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