Cholamandalam’s Personal Accident Insurance

What does the Policy Cover?

Cholamandalam’s Personal Accident Insurance provides compensation for loss of life or injury (partial or permanent) caused by an accident. The policy is open to all age groups (6 months to 70 years) and the principal sum chosen could vary from Rs. 1 lakh to Rs. 1 crore based on the income.

The policy further provides unmatched features that are aimed to protect you and your family during and after an unfortunate calamity.

1 Weekly Benefit: The policy provides weekly compensation (1% of Principal Sum or Rs. 5000, whichever is lower, for maximum 100 weeks) to you or your family in the event that you are not in a position to earn due to a disability caused by an accident.

2 Medical Reimbursement: You or your family will be reimbursed the cost of treatment and the use of hospital facilities for treatment of your injury. The compensation under this benefit is lower than 40% of the admissible claim amount or 10% of the Principal Sum or the actual medical expenditure.

3 Education Benefit: In the unfortunate event of loss of life or permanent total disability, the policy provides compensation to your children or legal spouse to continue education. The compensation under this is 10% of Principal Sum up to a maximum of Rs. 25,000.

4 Modification of residential accommodation and own vehicle: Permanent Total Disability arising from an accident could sometimes demand a change in lifestyle. In order to meet these requirements you might have to invest or modify your existing vehicle or invest in making some changes in your house (shifting to ground floor or change in staircase). Cholamandalam shall reimburse 10% of the Principal Sum up to a maximum of Rs. 50,000 towards this.

5 Ambulance Hiring Charges (in-built cover): You will be reimbursed up to Rs. 1,000 for ambulance hiring charges in the event of an accident.

6 Transportation of mortal remains (in-built cover): The policy reimburses up to 3% of Principal Sum up to a maximum of Rs. 6,000 to the family, towards the cost of moving mortal remains from the accident site to hospital, residence or cremation grounds.

7 Broken Bones: Personal Accident Insurance from Cholamandalam is a unique policy that offers cover for fractures in the event of an accident. The Principal Sum under this can be 10% of Principal Sum under Death cover or maximum of Rs. 50,000.

8 Cremation Ceremony (in-built cover): Actual cost up to Rs. 5,000 in connection with performing of ceremonies up to the time of cremation, will be reimbursed.

What does the Policy not Cover?

1 Any existing disablement while taking the Policy for the first time
2 Death or disablement due to intentional self injury
3 Suicide
4 Death or disablement under influence of liquor or drug
5 Natural death
6 Pregnancy or child-birth
7 Venereal disease
8 Insanity
9 Breach-of-law with or without criminal intent
10 War & nuclear perils
11 In aircraft except as a passenger
12 Congenital Disease