Group Insurance 156 views May 26, 2021

Liberty Complete Protect Group Plan

Liberty Complete Protect Group Plan is a comprehensive plan that offers multiple cover options from which policyholders can choose according to their needs. These multiple covers protect their finances against expenses incurred on the treatment of an illness, personal accident hospitalization, critical illness & procedures, etc.

Let’s look at the key features of the Liberty Complete Protect Group Plan mentioned below before understanding this plan further.

  1. Daily Hospital Cash Benefit
  2. Personal Accident Benefit
  3. Critical Illness Benefit
  4. Vector-Borne Diseases Benefit
  5. EMI Protector Benefit
  6. Loan Protector Benefit
  7. No pre-policy medical checkup for people below 50 years of age

Read this page to understand these key features in detail as we will discuss the same here.

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Let’s Discuss the Features and Benefits of Liberty Complete Protect Group Plan in Detail

Liberty Complete Protect Group Plan offers complete financial protection by providing multiple cover options with extensive benefits. We are discussing each of them below. Please check.

Daily Hospital Cash Benefit

With Liberty Complete Protect Group Plan, policyholders will get a daily hospital cash benefit if they need to get hospitalized (more than 24 hours) for the necessary treatment due to an illness or accidental bodily injury during the policy term. This benefit is available in a single event and multiple events per policy year (depending on the policyholder).

Policyholders can also choose the following additional covers under daily hospital cash benefit.

  1. Double ICU Benefit (For Illness/ Only Accidents)
  2. Family Floater cover
  3. Deductible
  4. Waiting period waiver

Personal Accident Benefit

On choosing this cover option, the policy will provide compensation to the insured person or nominee if a policyholder faces an accident that results in death or disability. You will not get compensation for more than one benefit (for the same period of disability) above the section sum insured.

Liberty Complete Protect Group Plan allows policyholders to choose any one or all the following benefit coverage as per their needs.

CoverageBenefit
Accidental death onlyCovered up to 100% of section sum insured
Permanent total disablement onlyCovered up to 100% of section sum insured
Permanent partial disablement onlyCovered as per the permanent partial disablement table benefit
Temporary total disablement onlyCovered up to 1% of CSI per week or up to INR 10,000 per week or actual wages for a maximum of 104 weeks

You can know more about the permanent partial disablement benefit due to an accident in the below table.

Loss ofPercentage of Sum Insured
Each arm at shoulder joint70
Each arm to a point above elbow joint65
Each arm below elbow joint60
Each hand at the wrist55
Each thumb20
Each index finger10
Each other finger5
Each leg above centre of the femur70
Each foot at the ankle40
Each big toe5
Each eye50
Sense of smell10
Sense of taste5
Any other permanent partial disabilityAs assessed by a registered medical practitioner

Have a look at the optional cover under the personal accident benefit mentioned below.

  1. Child education support
  2. Accidental medical expenses
  3. Transportation of mortal remains
  4. Performance of funeral ceremony
  5. Ambulance hiring charges
  6. Modification of vehicle or residence

Critical Illness Benefit

If you choose this coverage option, Complete Protect Group Plan from Liberty Insurance will provide a lump sum benefit if a policyholder is diagnosed with a list of specified critical illnesses. To get this benefit, the insured person should survive for 30 days or more from the date of diagnosis.

Under this benefit, policyholders can choose from three options- A, B, and C under which 9, 25 and 43 critical illnesses will be covered, respectively. Policyholders can choose from the following optional coverage options.

  1. Option to waive a 30-day survival period
  2. Waiting period waiver

Vector-Borne Diseases Benefit

Under this benefit option, Liberty Complete Protect Group Plan will provide the section sum insured for the policy term if an insured person needs to get hospitalized due to the following diseases.

  1. Plan A – Dengue Fever
  2. Plan B – Malaria
  3. Plan C – Other Vector-borne diseases such as Chikungunya, Japanese Encephalitis, Kala-azar, Lymphatic Filariasis and Zika Virus

This cover also provides double vector-borne disease benefit if an insured person is diagnosed and/or hospitalized for the 2nd time for the same vector-borne disease for which the claim was made earlier. Also, the 2nd hospitalization or diagnosis should be within 7 days from the date of discharge of the first hospitalization.

EMI Protection Benefit

This policy from Liberty Insurance will provide the EMI protection benefit on choosing daily hospital cash benefit and/or personal accident benefit and/or critical illness benefit and/or vector-borne disease benefit. Policyholders will not get this benefit on choosing only Temporary Total Disablement (TTD) benefit and in-patient hospitalization.

If the section sum insured under this benefit is less than the loan amount, the EMI amount payable will be in proportion to the section sum insured. It will not be the actual EMI for the loan amount. The EMI payable under this benefit cannot exceed the actual EMI amount.

For the Daily Hospital cash benefit, the EMI protector benefit will be according to the below table.

Number of Hospitalization + Recovery/Bed RestNumber of EMI payable
More than 21 days1
More than 45 days2
More than 70 days3

For all other benefit sections (Personal Accident, Critical Illness and Vector-Borne Diseases), the policy will pay the number of EMI as specified in the policy or actual EMIs, whichever is less.

Loan Protector Benefit

This policy will also protect the outstanding loan of the insured person if he/she has chosen Accidental Death, Accidental Permanent total disablement and Critical Illness benefit.

If the section sum insured is less than the loan amount, the principal outstanding loan amount payable will be in proportion to the chosen section sum insured. It will not be the actual loan amount.

What is the Policy Tenure under Liberty Complete Protect Group Plan?

Under Complete Protect Group Plan, the policy term can be up to 1 year for non-credit linked policy, while for credit-linked policy, the maximum term can be 5 years.

Liberty Complete Protect Group Plan Eligibility Criteria

  1. The entry age for adults stands at 18 years and can go up to 65 years.
  2. For dependent children, the minimum entry age stands at 3 months, while it can be a maximum of 25 years.

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