Bajaj Allianz Global Personal Guard

Bajaj Allianz Global Personal Guard is a personal accident cover that provides protection against the death and disability of the insured person. The main purpose of this cover is to protect the insured person and his/her family from the uncertainties of accidents. The base cover provides comprehensive benefits against various expenses such as transportation of mortal remains, lifestyle modification following an accident, etc. In addition, the policy also includes various add-on covers to enhance the level of benefits obtained.

Eligibility for Bajaj Allianz Global Personal Guard

The following eligibility criteria applies to people who look forward to opt for Bajaj Allianz Global Personal Guard:

The age of the proposer must be between 18 years and 70 years.
Dependent children can covered from the age of 3 months.
Unmarried/unemployed dependents can be covered till the age of 25 years.
Self, spouse, dependent children, and dependent parents can be covered under the same policy.
Lifelong renewal option is available for people who subscribe to this policy within the entry age limit.

Features of Bajaj Allianz Global Personal Guard

The following list of features apply to Bajaj Allianz Global Personal Guard:

The sum insured options for this policy ranges from Rs.50,000 to Rs.25 lakh.
The maximum death benefit that can be received by a person is capped at 100 times the gross monthly income.
Policyholders can enhance the sum insured amount (within the acceptable limit) only during the time of renewal.
This policy can be taken in 1, 2, and 3 year policy terms.
Long term discount of 4% is available for 2-year policy term and 8% for 3-year policy term.
A 10% discount is available if two or more dependent members are covered under the same policy.
For policies purchased through the company’s official website, the company offers a discount of 10%.
The premium charges for this policy vary based on the occupational risk level of the insured person.
This policy offers cumulative bonus of 10% per claim-free year subject to a maximum of 50% of the sum insured.
There is a free look period of 15 days for policyholders to review the terms and conditions of the policy.
This policy can be ported to other insurers in the market on condition that the company is notified at least 45 days before the date of renewal.
The company offers a grace period for up to 30 days for renewing this cover from the date of expiry. However, there will not be any coverage during the grace period.
The premium amount paid for this policy is eligible for income tax relief as per Section 80D of the IT Act.

Benefits of Bajaj Allianz Global Personal Guard

Bajaj Allianz Global Personal Guard comes with 3 mandatory covers and 12 optional covers. The benefits available under this policy can be given as follows:

Benefits	Extent of Coverage
Death of the insured person	Lump sum payment of the sum insured amount
Transportation of the mortal remains	Up to 1% of the sum insured amount
Funeral expenses	Up to 1% of the sum insured amount
Disappearance of the insured person (due to forced landing, sinking, stranding, wrecking, etc.)	Lump sum payment of the sum insured amount after a period of 12 months
Permanent total disability Loss of both eyes Loss of two limbs Loss of one eye and one limb	Lump sum payment of the sum insured amount
Lifestyle modification benefit	Up to 2% of the sum insured amount to make changes in place of residence and vehicle
Permanent partial disability	Up to 75% of the sum insured amount based on the level of damages sustained by the insured person

Add-on Covers

Benefits	Extent of Coverage
Accidental hospitalisation expenses	Coverage for various hospitalisation expenses up to the sum insured limit
Adventure sports benefit	Coverage for death or permanent disability caused due to participation in adventure sports
Air ambulance cover	Coverage for air ambulance transportation following an accident
Children education benefit (following the death or permanent total disability of the primary insured)	One-time payment for the education of dependent children under the age of 25
Accidental injury resulting in coma	Lump sum benefit for comatose caused by accidental injuries resulting within one month from the date of accident
EMI payment cover	Coverage for loan EMI payments during loss of employment following an accident
Fracture cover	Injuries resulting in fracture of bone following an accident
Hospital cash benefit	Daily cash benefit during the time of hospitalisation (max. 60 days)
Loan protector coverage	Coverage for outstanding loan amount following death or permanent total disability
Coverage for loss of income following an accident	Up to 25% of the monthly income per week subject to a maximum of Rs.50,000 (for a period of 100 weeks)
Road ambulance cover	Coverage for the transportation of the insured person following an accident
Travel expenses benefit	Travel expenses incurred by a family member following the hospitalisation of the primary insured in a different location

Exclusions of Bajaj Allianz Global Personal Guard

The following list of exclusions apply to Bajaj Allianz Global Personal Guard:

Any claims related to pre-existing conditions
Any claims related to self-inflicted injury, suicide attempt, or suicide
Claims attributable to stress, depression, nervous disorder, anxiety, etc.
Illnesses or injuries caused by addiction to alcohol or drugs
Death or disability caused by adventure sports (unless the add-on is chosen)
Any claims related to curative treatments or intervention
Claims related to sexually transmitted diseases or venereal diseases
Any complications caused by pregnancy, childbirth, miscarriage, abortion, etc.
Death or disability caused by war or warlike activities
Any claims related to exposure to nuclear activity or radiation
Expenses related to external accessories such as neck belts, walking sticks, abdomen belts, etc.
Any claims related to osteoporosis or pathological fracture

Claim Procedure

Following an event (death or accidental injury) that may result in a claim, the company must be notified within a maximum of 30 days. Documentation proofs related to the claim must be submitted within a maximum of 30 days from the date of intimation. The documents required for the claim may include the following:

Duly filled claim form
Physician certificate
Death certificate/disability certificate (whatever is applicable)
Post mortem report (if applicable)
Medical bills
Any other documents that may be requested by the company

Following the submission of all the documents, the company will verify the claim and communicate the acceptance/rejection within a maximum of 30 days. Once the claim is accepted, the settlement amount will be provided within a maximum of 7 days from the date of acceptance.

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