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Insurance Plans India 524 views January 28, 2022
Navi Saral Suraksha Bima is designed to cover all your expenses incurred during the policy term due to an accident. The coverage will include the death and disability of the insured. When you’re no longer alive due to an accident, the insurance company will pay your nominee an amount as specified in the policy schedule. It ensures the financial protection of your loved ones in case of your absence. To know more about the Navi Saral Suraksha Bima benefits, read this page further.
Table of Contents
Navi Saral Suraksha Bima covers the below-mentioned events during the policy term –
The nominee will get 100% of the sum insured, as specified in the policy schedule, upon death due to an injury sustained in an accident during the policy period. However, the payment would happen only if the death occurs within 12 months from the date of the accident. Your nominee will get the claim amount in case of your disappearance following an accident. If you’re found after the payment of an accidental death claim amount, you need to refund the same.
You’ll get 100% of the sum insured. as specified in the policy schedule, should you suffer from the following PTD. The payment would happen only if the PTD happens solely and directly due to an accident during the policy period. Same as a death claim, the PTD should happen within 12 months from the date of the accident to get a claim.
The company will pay a percentage of the sum insured, as specified in the policy schedule, if you suffer from PPD due to an accident during the policy period. Like the previous two casualties, this also needs to happen within 12 months from the date of the accident for getting a claim. The maximum amount payable in case of multiple disablements shall be restricted to the sum insured.
Important Notes
You can customize the Navi Saral Suraksha Bima by choosing any of the following covers –
If you sustain an injury due to an accident during the policy period and it restricts you from engaging in any employment or occupation of any description, the company shall pay the specified benefit until you’re able to return to work, subject to meeting the following –
Notes: Under this cover, ‘week’ is a period of seven consecutive calendar days.
The company shall compensate the medical expenses if incurred for hospitalization due to an accident. And the coverage is subject to a maximum of 10% of the base sum insured. The hospitalization expenses shall be available for the following:
The insurer covers the following treatments in case you have to undergo the same due to an injury –
• Dental treatment
• Plastic surgery
• Daycare treatments
• Road Ambulance up to INR 2,000 per hospitalization
Following an admissible claim under the base cover of death or PTD, the company shall pay a one-time education grant of 10% of the base sum insured. Any dependent children pursuing an educational course as a full-time student in an educational institution, not more than 25 years will get this benefit. The benefits payable under TTD, hospitalization and education grant are independent and over and above the base sum insured. In case of an admissible claim under the optional covers, TTD and hospitalization due to accident are independent of a claim.
The sum insured shall increase by 5% after each claim-free policy year, subject to a maximum of 50%. In the case of a claim in any particular year, the cumulative bonus reduces the same as its accrual. The cumulative bonus applies only on base covers for death, PTD, and PPD. The addition or reduction of the cumulative bonus will depend on the filing of a claim under the base cover. The bonus amount shall add and remain available individually to each member covered under the policy.
Your bonus shall reduce only in case the same insured person files a claim more than once in a policy year. This benefit applies only if you renew the policy by paying the premium on the due date or do so during the grace period. In the case of a claim during the expiring policy year, after the acceptance of the renewal premium, any available bonus shall be withdrawn.