• Royal Sundaram Individual Personal Accident Policy

    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.

    Eligibility for Royal Sundaram Individual Personal Accident Policy

    People who meet the following eligibility criteria can apply for Royal Sundaram Individual Personal Accident Policy:

    • The proposer of the policy must be an adult.
    • The maximum entry age of this policy is capped at 65 years.
    • Dependents between the age of 5 years and 21 years can be covered in this policy alongside their parents.

    Features of Royal Sundaram Individual Personal Accident Policy

    Some of the notable features of Royal Sundaram Individual Personal Accident Policy can be given as follows:

    • This policy offers global insurance coverage against accidents for up to Rs.75 lakh.
    • For sum insured amount up to Rs.10 lakh, there is no income proof required by the company.
    • A 10% discount is available if 3 or more family members are covered in the same family.
    • The policy term is 1 year, and it must be renewed every year for continuous coverage.
    • For every claim-free year, there is a cumulative benefit of 5% subject to a maximum of 25% of the sum insured amount.
    • There is a free look period of 15 days for policyholders to review the terms and conditions of this policy.
    • In order to ensure continuous coverage, the policy must be renewed within the 30-day grace period provided after the date of expiry.
    • The premium amount paid for this policy is eligible for income tax relief as per Section 80D of the Income Tax Act.

    Benefits of Royal Sundaram Individual Personal Accident Policy

    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)

    Exclusions of Royal Sundaram Individual Personal Accident Policy

    Royal Sundaram is not liable to pay any compensation for the following list of exclusions:

    • More than one claim within a specific policy year
    • Claims related to intentional self-injuries, suicide, or suicide attempt
    • Death or disability caused while under the influence of alcohol or drugs
    • Any claims related to participation in extreme sports or hazardous activities
    • Claims attributable to sexually transmitted diseases and venereal diseases
    • Any complications arising out of pre-existing diseases
    • Death or disability caused by war, invasion, or warlike activities
    • Claims attributable to exposure to nuclear materials or radiation
    • Claims related to pregnancy, childbirth, abortion, or related complications

    Claim Procedure

    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:

    • Duly filled claim form
    • FIR copy
    • Accident report
    • Inquest report
    • Death certificate or disability certificate
    • Post mortem report
    • Physician certificate
    • Hospital records
    • Any other documents that may be required by the company

    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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