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New accident insurance cover launched: India Post Payment Bank has introduced its services in a new way. It has launched two new personal accident cover policies at affordable premiums. The name of this plan is Health Plus and Express Health. This plan will prove to be a boon for those who want to get accident insurance of a higher amount at a low premium.
- India Post Payment Bank has launched an affordable insurance policy
- There are many benefits under Health Plus and Express Health Plus
- Beneficial for people between 18 and 65 years of age
India Post Payment Bank has recently launched a new personal accident cover at a very affordable premium. It has Health Plus and Express Health Plus. The policy term for all personal accident covers is one year. Anyone between the age of 18 to 65 years can opt for this cover. This cover will provide protection against accidental death, disability and treatment.
Features of Health Option 1
The Health Plus plan comes in three options, which vary based on the sum assured and premium. All the options provide financial support to the family in case of accidental death or permanent disability. The cheapest option is Health Plus Option 1. It offers a sum assured of Rs 5 lakh. In case of unfortunate death or permanent or personal disability, the family of the insured will get 100 percent of the sum assured. As per the terms and conditions of the policy, a sum assured of Rs 25,000 will be provided in case of bone fracture. Apart from this, coverage of up to Rs 50000 will be available for marriage. The annual premium for Health Plus Option 1 is Rs 355 including tax.
Health Plus Option 2 Fear
Health Plus Option 2 offers a sum insured of Rs 10 lakh. In case of unfortunate death or permanent and personal disability, the family of the insured will get 100 percent of the sum insured. As per the terms and conditions of the policy, the sum insured will be Rs 25000 in case of bone fracture. If the person goes into coma, the benefit will be available for three months. About Rs 5000 can be claimed for funeral expenses. Health Plus Option 2 will cover up to Rs 50000 for child's education. The annual premium of Health Plus Option 2 is Rs 555 including taxes.
Health Plus Option 3
Health Plus Option 3 offers the most comprehensive coverage among the three options. It includes a sum insured of Rs 15 lakh. In case of unfortunate death or permanent and personal disability, the family of the insured will get 100 percent of the sum insured. As per the terms and conditions given in the policy, the sum insured in case of bone fracture will be Rs 25000. Coverage of up to Rs 1 lakh will be available for children's marriage. All other benefits will remain the same as Health Plus Option 2. The annual premium of Health Plus Option 3 is Rs 755 including tax.
What's in the Express Health Plan
Under the Express Health plan, the policyholder can avail tele-consultation, annual health check-up and other benefits. The other three benefits of the Health Plus option are also likely to be included. However, there is no detailed information about the plan yet.