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Group Insurance 429 views May 24, 2021
Looking for a plan that can protect your finances in case of death, disability, or hospitalization due to an accident? ICICI Lombard Group Safeguard Insurance Plan provides comprehensive coverage against such situations and add-on benefits up to the sum insured limit.
Let’s look at its prominent features mentioned below before understanding the plan further.
On this page, we will talk about these features in detail so that you can purchase this plan without any second thought. Do read to know more!
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Table of Contents
We are talking about the features of the ICICI Lombard Group Safeguard Insurance Plan in detail below. Please check!
If a policyholder meets with an accident and the bodily injury results in death or permanent total disablement, Safeguard insurance plan will provide coverage up to the sum insured to the nominee/policyholder. The injury should happen during the policy term, and it should result in death or permanent total disablement of the insured person within 365 days from the date of the accident.
In case of a permanent partial disablement of the insured person due to an accident, the benefit will be a definite percentage of the sum insured, depending on the extent of losses. To know more, check the below table.
Losses Covered | Percentage of Sum Insured |
---|---|
Loss of one entire hand | 70 |
Loss of one entire foot | 70 |
Loss of use of one eye | 50 |
Loss of All Toes | 20 |
Great both phalanges | 5 |
Great - One phalanx | 2 |
Other than great if more than one toe lost each | 5 |
Loss of hearing in both ears | 75 |
Loss of hearing in one ear | 30 |
Loss of four fingers and thumb of one hand | 40 |
Loss of four fingers | 35 |
Loss of thumb - Both phalanges | 25 |
One phalanx | 10 |
Loss of Index finger - Three phalanges | 10 |
Two phalanges | 8 |
One Phalanx | 4 |
Loss of Middle finger - Three phalanges | 6 |
Two Phalanges | 4 |
One Phalanx | 2 |
Loss of ring finger - Three phalanges | 5 |
Two Phalanges | 4 |
One Phalanx | 2 |
Loss of little finger - Three phalanges | 4 |
Two Phalanges | 3 |
One Phalanx | 2 |
Loss of metacarpus - first or second (additional) | 3 |
Third, fourth or fifth (additional) | 2 |
If a policyholder loses employment temporarily in case of temporary total disablement due to an accident, this plan from ICICI Lombard will pay the weekly amount as specified against the policy.
If an insured person suffers an injury due to an accident while travelling via the common carrier and the injury results in death or permanent total disablement during the policy term, this plan will provide the benefit for the same. Policyholders can receive this benefit once during their lifetime.
If an individual dies or faces permanent total disablement within the policy term while engaging in adventure sports, the plan will provide the benefit up to the sum insured.
Safeguard Insurance Plan will also cover the education of the surviving dependent children of the insured person in case he/she dies or face permanent total disablement. This coverage amount will be up to the sum insured.
In case of a permanent total disablement of an insured person, the policy will pay the EMI amount for the number of installments specified in the policy certificate, from the first EMI amount falling due after the occurrence of the injury (as per loan repayment schedule).
This plan from ICICI Lombard will also pay an amount equal to the principal outstanding amount if an insured person suffers an injury due to an accident (during the policy term), and it results in death or permanent total disablement.
Policyholders will get the reimbursement of the medical expenses incurred towards the treatment of injury due to an accident during the policy term. To get this benefit, the insured person should be admitted to the hospital within 7 days of the occurrence of the accident.
ICICI Lombard Group Safeguard Insurance Plan also provides the following additional benefits to policyholders.