A personal accident cover is something that takes care of a family’s financial requirements when the primary earner suffers death or disability due to an accident. All personal accident covers provide a lump sum benefit following the death or disability of the insured person. Some covers even have provisions for educational grant, funeral allowance, hospitalisation expenses, etc. Royal Sundaram Individual Personal Accident Policy provides a range of benefits against the damages sustained due to an unfortunate accident. This is a policy worth considering if you are looking for a personal accident insurance cover to protect your family from potential financial constraints.
People who meet the following eligibility criteria can apply for Royal Sundaram Individual Personal Accident Policy:
Some of the notable features of Royal Sundaram Individual Personal Accident Policy can be given as follows:
The benefits offered by Royal Sundaram Individual Personal Accident Policy can be given as follows:
|Benefits||Extent of Coverage|
|Death of the insured||Lump sum payment of 100% of the sum insured amount|
|Permanent total disablement||Lump sum payment of 100% of the sum insured amount|
|Permanent partial disablement||Benefit varies based on the extent of disability|
|Temporary total disablement||Weekly benefit for a maximum of 104 weeks|
|Hospitalisation expenses due to an accident||Covered if the chosen sum insured is Rs.20 lakh or above|
|Educational grant (against the death or permanent total disablement of the insured)||Rs.5,000 per child subject to a maximum of 2 children|
|Coverage for the transportation of mortal remains||Up to Rs.5,000 for the transportation of the mortal remains following the accidental death of the insured|
|Recovery benefit||5% of the sum insured amount subject to a maximum of Rs.50,000 (if the hospitalisation following an accident exceeds 25 consecutive days)|
Royal Sundaram is not liable to pay any compensation for the following list of exclusions:
Following an event that may result in a claim, the company must be notified immediately by the family of the insured person. Any notification related to the claim can be done by contacting the company’s customer service department. The following list of documents must be submitted while filing for the claim:
Once these documents are submitted to the insurer, the claim proceedings will begin. The company will verify the validity of the claim and communicate the acceptance or rejection of the claim to the insured or the nominee. In case of rejection, a suitable reason will be provided in writing by the company. Upon acceptance of the claim, the settlement amount will be provided within a reasonable time.
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