Accidental Insurance Scheme
GROUP PERSONAL ACCIDENT POLICY
All Faculty, Staff, Student and One earning parent of student are covered under GROUP PERSONAL ACCIDENT POLICY from Tata AIG General Insurance Company Limited in 2018-19
Features and Benefits of the Insurance Scheme
||No. of Emp.
||Accidental Medex - fixed –– up to Rs 100,000/- Only Hospitalization , Minimum 24 hrs In hospitalization and Rs 20,000 /- for OPD Treatment or actual claims whichever is lower(staff and students)
Insured are covered for any kind of possible accidents:-
- Accidents during institute hours
- Accidents while travel from house to institute –Commuting
- Accidents during excursion
- Other accidents at home or during travel by Road/Rail/ Air accidents
- Capsizing of ships and boats
- Drowning while attempting to swim
- Natural calamities,
- Burns from fire
- House and building collapse
- Animal Bite
They are covering for 24 hours a day, 365 days in a year, worldwide
Section: ACCIDENTAL DEATH>
We will pay the Principal Sum shown in the Policy Schedule if Injury to You results in loss of life. The loss must occur under the circumstances
described in a Hazard within 365 Days from the date of the Accident which caused Injury.
We will pay the benefit for Loss of Life under the circumstances described in a Hazard if your body cannot be located within 365 Days after the forced landing, stranding, sinking or wrecking
of a conveyance in which You were a passenger or as a result of any Acts of God, in which case it shall be deemed, subject to all other terms and provisions of the Policy,
that You shall have suffered loss of life within the meaning of the Policy.
Section: ACCIDENTAL DISMEMBERMENT
(Including Loss of Sight and Hearing)
We will pay a percentage of the Principal Sum shown in the Policy Schedule if Injury to You results in one of the losses shown in the Table of Losses below.
The loss must occur under the circumstances described in a Hazard within 365 Days from the date of the Accident which caused Injury. We will pay, provided such disability has continued
for a period of 12 consecutive months and is total, Continuous and permanent at the end of this period, the Principal Sum less any other amount paid or payable under:
Permanent Total Disability or Permanent Partial Disability section of this Policy, if these coverages are offered under this Policy, as the result of the same Accident.
If more than one loss results from any one Accident, only one amount, the largest, will be paid.
Table of Losses
| Loss of:
|| % of Principal Sum
|Both Hands or Both Feet
|Sight of Both Eyes
|One Hand and One Foot
|Either Hand or Foot and Sight of One Eye
|Speech and Hearing in Both Ears
|Either Hand or Foot
|Sight of One Eye
|Speech or Hearing in Both Ears
|Hearing in One Ear
|Thumb and Index Finger of Same Hand
“Loss” with regard to:
- hand or foot means actual severance through or above the wrist or ankle joints respectively;
- eye means entire and irrecoverable loss of sight;
- thumb and index finger means actual severance through or above the joint that meets the hand at the palm;
- speech or hearing means entire and irrecoverable loss of speech or hearing of both ears;
COMPARATIVE SNAPSHOT ON THE USP’s OF TATA-AIG
| Coverage’s – Required
|| As per the schedule table above
|| As per the schedule table above, includes additionally loss of speech, hearing and loss of thumb & fore-finger together
|| Accidental Medex - fixed –– up to Rs 100,000/- Only Hospitalization , Minimum 24 hrs In hospitalization and
Rs 20,000 /- for OPD Treatment or actual claims whichever is lower(staff and students)
|New Joinees / Additions to be covered from the DOJ subject to CD Balance
|Speech and Hearing in Both Ears
TERMS AND CONDITIONS: The above mentioned is subject to Tata AIG General Insurance Co. Ltd. agreed policy terms and conditions. Any change to the same is given below:
1. Only students, one earning parent (1st parent as per school register) & teaching & non teaching staff of the educational institution are covered.
2. In case of death of student, all eligible claims will be paid in favor of Parent as per the first name appearing in institute’s records in the event of non availability of nominee details.
3. In case of death of Insured Parent all eligible claims will be paid in favor of the institution towards education continuity of the student.
4. In case of death of Insured staff all eligible claims will be paid to respective nominee