Group Insurance August 6, 2021

Chola Group Personal Accident Insurance Policy helps employers protect their employees financially in case the latter face an accidental death or disability. If an insured member faces such an eventuality during the policy period, the policy will provide up to 100% of the sum insured. This plan offers education benefits to dependent children if an insured member dies or faces permanent disability due to an accident.

Have a look at the key features of this plan mentioned below.

  1. Coverage Against Accidental Death
  2. Permanent Total Disablement Coverage
  3. Accidental Permanent Partial Disablement Coverage
  4. Reimbursement of Treatment Costs
  5. Weekly Benefit
  6. Coverage Against Modification of Accommodation and Vehicle
  7. Reimbursement of In-patient Accidental Hospitalization Expenses
  8. Broken Bones Cover
  9. A 15-day Free Look Period

We will talk about these features and benefits in detail so that you can make a better decision. Do read!

Let’s Understand the Features and Benefits of Chola Group Personal Accident Insurance Policy in Detail

Chola Group Personal Accident Insurance Policy protects individuals’ finances in case of an accident. We have discussed its benefits below.

Accidental Death Coverage

If an insured member dies due to accidental injuries during the policy period and death happens within 12 months from the date of the accident, this group plan will offer a definite sum insured to the nominee.

Permanent Total Disablement Coverage

If an individual faces an accidental injury that causes the permanent total disability and such a disability has sustained for 12 straight months, the policy will pay a definite percentage of the sum insured as per the disability. To know more, check the below table.

DisabilityPercentage of the Sum Insured
Loss of sight of both the eyes100
Loss of two entire hands or two entire feet100
Loss of one entire hand and one entire foot100
Loss of sight of one eye and such loss of one entire foot or hand100
Complete loss of hearing of both ears and complete loss of speech100
Complete loss of hearing of both ears or complete loss of speech and loss of one limb or
loss of sight of one eye
100

Accidental Permanent Partial Disablement Coverage

In case of a permanent partial disablement during the policy period due to an accident, you will get a fixed percentage of the sum insured. This percentage will depend on the extent of your loss. Check the below table to know more.

Losses CoveredPercentage of Sum Insured
Loss of one entire hand50
Loss of one entire foot70
Loss of use of one eye50
All Toes20
Great Toes - both phalanges5
Great - One phalanx2
Other than the great toe, if more than one toe is lost, each2
Loss of hearing in both ears60
Loss of hearing in one ear30
Loss of Speech60
Loss of four fingers and thumb of one hand40
Loss of four fingers35
Loss of thumb - Both phalanges25
One phalanx10
Loss of Index finger - Three phalanges10
Two phalanges10
One Phalanx10
Loss of Middle finger - Three phalanges6
Two Phalanges6
One Phalanx6
Loss of ring finger - Three phalanges5
Two Phalanges5
One Phalanx5
Loss of little finger - Three phalanges4
Two Phalanges4
One Phalanx4
Loss of metacarpus - first or second (additional)3
Sense of Smell10
Sense of Taste5

Accidental Medical Reimbursement

In case of an accidental injury during the policy term, the group policy will reimburse the costs of a medical practitioner and hospital usage during the treatment of an accidental injury.  To get this benefit, there should be a valid claim up to 40% of the admissible claim amount or 10% of the principal sum insured (whichever is less).

Medical Reimbursement for Accidental In-patient Hospitalisation

If an insured person needs in-patient hospitalization for the treatment of accidental injuries, he/she will get reimbursement of the medical expenses incurred on the same. The hospitalization should commence within the same policy period, and the maximum coverage will be up to the sum insured.

Accidental Weekly Benefit

You can get a weekly benefit during a period of continuous temporary total disability of an insured person by paying an additional premium. Under this benefit, Chola Group Personal Accident Insurance Policy will provide 1% of the sum insured up to INR 5,000 per week for a maximum of 100 weeks from the date of accidental bodily injury. If an insured person is disabled for a part of a week, the policy will pay one-seventh of the weekly benefit during each day of disability.

Education Benefit

If an insured member under the group dies or faces permanent total disablement due to an accidental injury, the policy will offer a lump sum education benefit to the dependent children.

What is Not Covered Under the Policy?

Chola Group Personal Accident Insurance Policy will not provide coverage in the following situations.

  1. Intention self-inflicted injury, suicide, or any attempt
  2. Injury or disease caused by ionizing radiation or contamination
  3. War, invasion, an act of a foreign enemy, civil war, etc.
  4. Nuclear, chemical and biological terrorism
  5. Participation or training in a sport as a professional
  6. Loss while engaged in aviation or ballooning
  7. Participation in naval, military or air force operations
  8. Loss incurred under the influence of alcohol or drugs
  9. Participation in speed contests

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