వెయ్యి రూపాయలకె 20 లక్షల బీమా…….

SBI general Insurance Company is a joint venture between two companies
namely the State Bank of India and Insurance Australia Group (IAG). State
Bank of India owns 74% of the company while the Insurance Australia Group
owns the remaining 26%. The year of 2013-14 was the fourth year of
operation of the company where the company registered a growth of 54% by
writing a Gross Premium of 1188 crores. In the same year the company in
association with State Bank of India covered over 1.5 crore Saving
Accountholders of the State Bank of India with a Group Personal Accident
Insurance cover. SBI General insurance company offers different categories
of insurance plans including motor insurance, health insurance, travel
insurance, personal accident insurance and home insurance for individuals.
Other specialized insurance plans include aviation insurance, fire
insurance, marine insurance, package insurance, construction &
engineering insurance, liability insurance, group health insurance, group
personal accident insurance and miscellaneous insurance plans for
businesses.

Why Personal Accident Insurance Cover?

In the modern age which is so fast-paced and enhanced with comforts which
were considered a luxury in previous times, contingencies are not far
behind. With every comfort comes the relevant uncertainty of facing a
contingency which would involve a financial loss. The usage of cars and
two-wheelers has increased because of the developing economy where more
and more people can afford to own a vehicle. With this development, there
is an increased chance of accidents both for the vehicle owners and for
the pedestrians otherwise plying on the road. An accident may result in
death or disability either temporary or permanent in nature. Both these
scenarios will affect the financial standing of a person and thus,
insuring oneself with a Personal Accident Insurance plan is the most
effective way for guarding against the loss suffered.

Personal Accident insurance Plans offered by SBI General Insurance
Company:

SBI general Insurance Company offers two types of Personal Accident Plans
which are Group Personal Accident plan and Individual Personal Accident
Plan. Let us take a look at the plans in details to facilitate a better
understanding of each of them.

Group Personal Accident Insurance Plan

The plan is offered to a group of individuals for the State Bank of India
and its associated banks. The group of individuals may be the
accountholders of the bank’s savings account, fixed deposit account, loan
account, current account, etc. A Master Policy is issued in the name of
the entity covering all the listed members. The features of the insurance
plan under the Group Personal Accident cover are as follows:

• The group insurance plan covers the loss of life resulting from an
  accident
• The Sum Assured can be chosen by the customer as per his requirement

Eligibility

• The plan can be bought by any permanent Indian Resident having either a
  Savings Bank Account or a Current Account with the State Bank of India
  or any of its associated banks.
• The individual must be aged between 18-65 years.

Exclusions

The plan does not cover every contingency. There are certain exclusions
which are excluded from the scope of coverage of the plan. The exclusions
are as follows:

• Suicide and self-inflicted injury
• HIV or AIDS infection
• Individuals enrolled in any branch of police, paramilitary, military and
  armed forces any country whether in peace or war are excluded from the
  scope of cover
• Accidents which occur under the influence of alcohol, drugs or any other
  intoxicants
• Accidents due to participation in riots, felony, crime or civil
  commotion
• Accidents during learning or operating any aircraft
• Accidents in cases of war, civil war, invasion, insurrection,
  revolution, act of foreign enemy, etc.
• Nuclear damage
• Accidents due to participation in adventure or dangerous sports
• Child birth and pregnancy related complications
• Accidents caused due to willful participation in any illegal act or any
  violation or attempted violation of the law or resistance to arrest

Sample rate of premium

The following rates of premiums are charged for the respective Sum Assured
amount

Individual Personal Accident insurance Plan

An individual personal accident plan covers death, disability and loss of
income suffered by an individual in the event of any accident suffered.
The features of the insurance plan are as follows:

• The plan covers death of the insured due to an accident, disability
  suffered due to an accident and also loss of income due to the accident
  which impairs the health of the insured individual
• Additional add-on covers are available with the plan which includes
  Hospital Confinement Allowance and Ambulance Charges
• In case of a Permanent Total Disability, the benefit paid also includes
  add-on coves like Education Benefit and Adaptation Allowance at no
  additional cost to the customer
• The facility of cumulative bonus is also available which can be availed
  by the insured to enjoy greater benefits
• The plan can be taken by an individual alone or for his entire family in
  which case the benefits enjoyed by the family should always be lower
  than that enjoyed by the individual
• Accidental Death is a compulsory cover granted to the customer and other
  covers like Permanent Total Disability, Permanent Partial Disability and
  Temporary Total Disability cover can be availed by the customer as per
  his voluntary choice.
• The plan can be taken in any of the following combinations of:

• Accidental Death
• Accidental Death + Permanent Total Disability
• Accidental Death + Permanent Total Disability + Permanent Partial
  Disability
• Accidental Death + Permanent Total Disability + Permanent Partial
  Disability + Temporary Total Disability

• The premium charged will depend on the cover opted for as per the above
  list
• The Permanent Total Disability benefit also offers the options of
  Education Benefit and Adaptation Allowance at no extra cost to the
  customer. Under the Education Benefit option, the insured’s child and
  spouse will be entitled to receive Rs.50, 000 or 1% of the basic Sum
  Insured whichever is lower for each child or spouse up to a maximum of 2
  individuals on proof of enrolment to a Government approved Education
  facility when the insured suffers a permanent total disability due to
  the accident
• Under the Adaptation allowance option, the company pays the cost to
  modify the house or vehicle to deal with the physical disability at 1%
  of the basic Sum Insured or Rs.25, 000 whichever is lower.

Additional Add-on Covers under the plan

The Personal Accident plan offers two add-on covers which can be opted by
the insured by paying an extra amount of premium. The covers are discussed
below:

• Hospital Confinement Allowance – if the insured suffers
  an injury due to an accident in India for which he is hospitalized, the
  company pays a daily allowance of Rs.1000 / Rs.2000 / Rs.3000 as per the
  plan option chosen by the individual up to a maximum of 15 days for the
  entire period of the policy
• Ambulance Charges including Air Ambulance – in case the
  services of an ambulance, including an air ambulance, is availed by the
  insured for transportation to the hospital from the site of accident or
  from the hospital to the insured’s place of residence (only in case of
  accidental death or Permanent Total Disability) or from one hospital to
  another hospital, the charges for such ambulance services will be borne
  by the insurer. The ambulance coverage is available only if the
  Accidental Death Sum Assured is Rs.5 lakhs and above and the amount of
  charges admissible will be 10% of the Accidental Death Sum Assured
  subject to a maximum of Rs.1 lakh per policy period.

Eligibility Criteria

The following points are necessary to be observed as the eligibility
criteria for availing the insurance plan:

• The plan can be availed by salaried, self-employed and business class
  individuals
• The minimum age at entry, i.e. at the time of buying the policy is 18
  years and the maximum age up to which the coverage can be taken is 65
  years.
• Minor children aged 3 months and above can be covered as dependents if
  either of the parents is covered by the plan. The maximum age of
  covering dependent children is 23 years.
• The plan can be availed for the family as a family floater plan. The
  family can consist of self, spouse, dependent children, dependent
  parents and dependent parents-in-law.
• The minimum and maximum amount of coverage available under the plan is
  Rs.1 lakh and Rs.10 lakhs.
• The Sum Assured that can be availed for Accidental Death Benefit and
  Total Permanent Disability benefit is a maximum of 120 times the gross
  monthly income or 10 times the gross annual income from gainful
  employment or occupation
• The Sum Assured available under the family floater option to dependent
  children, dependent parents, dependent parents-in-law and a non-working
  spouse is limited to 20% of the Sum Assured of the primary insured or
  Rs.10 lakhs whichever is lower.
• The weekly indemnity benefit payable under the Temporary Total
  Disability Benefit is 1% of the Accidental Death Sum Assured subject to
  a maximum of Rs.10, 000 per week for a maximum of 104 weeks.
• For Accidental Death Sum Assured ranges of Rs.25 lakhs and above, a copy
  of the self-attested latest income proof which can be either the latest
  3 Salary Slips or Form 16 or Income Tax Returns need to be submitted to
  the company along with the completed Application Form.

Cancellation of a Personal Accident Plan

The Personal Accident Plan is available for a period of 1 year. The
customer, however, may cancel the plan before the said period which is
allowed at the proportionate amount of premium. The table below depicts
the period of risk and the proportionate premium required for the
respective period:

The company may also cancel the plan if it is found by the company that
there has been a misrepresentation, fraud or non-disclosure of material
facts on the part of the customer. Such a cancellation will be done by the
company after serving a notice to the customer 15 days in advance before
cancelling the plan.

Exclusions

The plan does not cover every contingency. There are certain exclusions
which are excluded from the scope of coverage of the plan. The exclusions
are as follows:

• Any accident due to suicide, attempted suicide whether the insured was
  sane or insane or an intentional self-inflicted injury, mental or
  nervous disorder.
• Accident due to and in the course of employment in any branch of the
  Military or Armed Forces of any country, whether in peace or war.
• Accident while being under the influence or abuse of drugs, alcohol, or
  other intoxicants or hallucinogens unless they are properly prescribed
  by a physician and taken as per the prescription.
• Accidents due to participation in an actual or attempted felony, riot,
  crime, misdemeanor, or civil commotion
• Accident during air travel except as a fare paying passenger on a
  recognized airline or charter aircraft
• Accident occurring while operating or learning to operate any aircraft
  or ship, or performing duties as a member of the crew on any aircraft or
  ship.
• Any accident/loss arising out of War, civil war, invasion, insurrection,
  revolution, act of foreign enemy, hostilities (whether War be declared
  or not), rebellion, mutiny, use of military power or usurpation of
  government or military power
• Any injury caused by, contributed to, or arising from nuclear ionizing
  radiation or contamination by radioactivity from any nuclear fuel or
  from any nuclear waste or from the combustion of nuclear fuel (including
  any self-sustaining process of nuclear fission) or nuclear weapons
  material or nuclear equipment or any part of that equipment
• The dispersal or application of pathogenic or poisonous biological or
  chemical materials; The release of pathogenic or poisonous biological or
  chemical materials, or Congenital anomalies or any complications or
  conditions arising there from
• Participation in winter sports, skydiving/parachuting, hand gliding,
  bungee jumping, scuba diving, ballooning, mountain climbing (where ropes
  or guides are customarily used), all forms of skiing (including but not
  limited to snow or water), riding or driving in races or rallies using a
  motorized vehicle or bicycle, caving or pot-holing, hunting or
  equestrian activities, skin diving or other underwater activity, rafting
  or canoeing involving white water rapids, yachting or boating outside
  coastal waters, participation in any Professional Sports, any bodily
  contact sport or/and any other hazardous or potentially dangerous sport
  for which the insured has not received nay training
• Any loss resulting directly or indirectly, contributed or aggravated or
  prolonged by childbirth or from pregnancy,
• Any accident from committing breach of law with criminal intent.
• Loss caused directly or indirectly, wholly or partly by infections
  (except pyogenic infections which shall occur through an Accidental cut
  or wound) or any other kind of Disease.

Applying for Personal Accident Plans from SBI General

The company offers Personal Accident application through multiple channels
like:

• Individuals desirous of availing any plan can simply call the helpline
  of the company and speak to the customer service representative.
• They can provide their name, mobile number and email id on the website
  of the company and request for a call back
• Online Individual Personal Accident Plans can be simply applied to by
  clicking the ‘Buy Online’ tab mentioned on the plan page on the website
  of the company.
• The customers can also write to the company at their email id which is
  customer.care@sbigeneral[dot]in for any related queries.

SBI General Personal Accident Insurance- FAQs

1.

How to pay a premium? What are the modes of payment available?

The SBI General Insurance company Ltd. offers 6 modes of premium payment
namely:

• Cash payment at the branch
• Online Payment

For the online payment mode, the policyholder can pay via;

• Credit Card
• Debit Card
• Net banking

2.

How can I check policy status for SBI general personal accident
insurance?

For registered online users, login to the website with your plicy details
and check the status.

3. What is the policy renewal process
for SBI general personal accident insurance?

You can visit the website to renew your policy

Step 1: Login with your policy details on the e-Portal

Step 2: Select the policy and payment mode ( Net Banking,
Debit/Credit Card)

Step 3: Print/save cyber recipt of your payment

Alternatively, pay via cehqe/debit at the nearest branch to renew your
policy.

4. What is the company’s process to settle claim
for SBI general personal accident insurance?

You need to intimate the company on the toll free number or you can send
the i-claim on company’s mail id. Upon successful completeion of the
documentation, the clain is settled within 30 days.

5. What is the policy cancellation process
for SBI general personal accident insurance?

If the vehicle is liability covered you can ask for the cancellation of
the policy. For the cancellation of the policy, just visit the nearest
branch.