Future Generali Personal Accident Policy

• Enjoy options to cover yourself, your spouse, kids and even your parents
• Enjoy access to 10,000+ hospitals for cashless treatment
• Reduce your taxable income by up to Rs. 50,000 deduction under section 80D**

Personal accident policies are developed to provide financial security against the adversities that follow an unexpected accident. While these covers do not provide any mediclaim benefits to the insured, they are effective in providing financial relief to the insured or his/her family following an unfortunate accident. Future Generali Personal Accident Policy is one such cover that provides lump sum benefits following the death or disability of the insured person. This policy comes with flexible terms and the benefits can be enhanced by subscribing to a number of add-on policies.

Eligibility for Future Generali Personal Accident Policy

The eligibility criteria set forth by the company for enrolling in this personal accident policy can be given as follows:

• The entry age of the proposer must be between 18 years and 70 years.
• Dependent children can be covered in this policy from the age of 3 months.
• Unmarried/unemployed beneficiaries are covered as dependents till the age of 25 years.
• Lifelong renewal benefit is available under this policy.
• This policy is available for self, spouse, and up to 2 dependent children in a family.

Features of Future Generali Personal Accident Policy

Some of the key features of Future Generali Personal Accident Policy can be listed as follows:

• The sum insured amount available under this policy is decided based on the monthly income of the policyholder.
• The maximum sum insured amount available for the accidental death of the policyholder is 144 times his/her monthly income.
• Policyholders are divided into class 1, class 2, and class 3 based on the risk level of their occupations. The maximum sum insured available under the policy is allocated based on their risk class.
• A family discount of 10% is offered if more than one family member is covered under the same policy.
• This policy is available in 1, 2, or 3-year terms based on the requirement of the policyholder.
• Long-term discount of 5% and 10% is available for 2-year and 3-year terms respectively.
• The premium amount can also be paid in monthly, quarterly, or half-yearly terms. However, this may attract loading up to 5%.
• Since this policy does not provide any coverage for medical expenses, there is no need for any medical examination while subscribing to this cover.
• If the terms are not satisfactory, policyholders can cancel the policy during the first 15-day free look period of this cover. However, no claim must have been made during this period.
• This policy can be ported to other insurers in the market as per the guidelines issued by the IRDAI.
• There is a grace period of 30 days from the date of expiry of this cover to renew this policy. However, coverage protection will not be available for the days during which the premium is not paid.

Benefits of Future Generali Personal Accident Policy

Some of the benefits provided under Future Generali Personal Accident Policy can be given in the table:

Add-on covers

This policy also comes with a range of add-on covers to enhance the benefits offered to the insured person:

Exclusions of Future Generali Personal Accident Policy

Some of the notable exclusions of Future Generali Personal Accident Policy can be listed as follows:

• Intentional self-injury, suicide, or suicide attempt
• Claims arising out of alcohol or drug abuse
• Death or disability arising out of participation in criminal activities
• Claims arising out of participation in motor sports or hazardous activities
• Claims related to complications arising out of pregnancy and childbirth
• Death or disability caused by war or warlike activities
• Death or disability arising out of exposure to nuclear materials and radiation
• Claims attributable to sexually transmitted diseases or venereal diseases
• Claims related to curative treatments or interventions
• Expenses related to external medical accessories following an accident

Claim Procedure

In case of an unfortunate accident that may result in a claim, the insured or his/her family member must notify the company with 15 days of the event. The insured must provide various documents in order to proceed with the claim settlement. Some of these documents include the following:

• FIR copy of the accident
• Spot panchnama
• Death certificate (if applicable)
• Disability certificate (if applicable)
• Physician certificate
• Medical bills
• Any other document that may be requested by the company

Once the documents are submitted, the company will proceed with the settlement process. The claim will be validated by the company and the submitted documents will be verified. Acceptance or rejection of the claim will be communicated to the insured within a maximum of 30 days from the receipt of the last document.