Group Insurance 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.

  1. Accidental injury benefits
  2. Children’s education grant benefit
  3. EMI benefit
  4. Loan protection benefit
  5. Orphan benefit
  6. Parental care benefit
  7. Hospitalization expenses-related benefit
  8. Accidental hospitalization daily cash benefit
  9. Air ambulance benefit

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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Let’s Understand the Features and Benefits of ICICI Lombard Group Safeguard Insurance Plan in Detail

We are talking about the features of the ICICI Lombard Group Safeguard Insurance Plan in detail below. Please check!

Accidental Injury Benefit

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 CoveredPercentage of Sum Insured
Loss of one entire hand70
Loss of one entire foot70
Loss of use of one eye50
Loss of All Toes20
Great both phalanges5
Great - One phalanx2
Other than great if more than one toe lost each5
Loss of hearing in both ears75
Loss of hearing in one ear30
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 phalanges8
One Phalanx4
Loss of Middle finger - Three phalanges6
Two Phalanges4
One Phalanx2
Loss of ring finger - Three phalanges5
Two Phalanges4
One Phalanx2
Loss of little finger - Three phalanges4
Two Phalanges3
One Phalanx2
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.

Common Carrier Accident Benefit

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.

Adventure Sports Benefit

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.

Children’s Education Grant Benefit

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.

EMI Benefit

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).

Loan Protection Benefit

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.

Accidental Hospitalization Expenses Reimbursement Benefit

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.

Additional Benefits

ICICI Lombard Group Safeguard Insurance Plan also provides the following additional benefits to policyholders.

  1. Mobility benefit (lump sum amount equal to the claim amount towards the modification of home, office, vehicle, etc.)
  2. Repatriation of Mortal Remains benefit
  3. Counselling benefit
  4. Repatriation in case of Permanent Disability benefit
  5. Accidental Pre & Post Hospitalization expenses benefit (for 7 days before and 60 days after the hospitalization, respectively)
  6. Air ambulance benefit
  7. Comatose benefit ( injury results in a coma within 30 days from the date of accident)
  8. Broken bones benefit
  9. Compassionate visit benefit
  10. Burns benefit up to 100% of the sum insured
  11. Ambulance charges benefit
  12. Assault benefit (injury due to a violent crime or assault)
  13. Mysterious disappearance benefit (in case the insured person has disappeared for more than 365 days from the date of accident)

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