Magma HDI Individual Personal Accident Policy

Policy Benefits

• This policy covers Accidental Death (AD) resulting from any bodily injury up to 100% of the Capital Sum Insured (CSI).
• Permanent Total Disability (PTD) such as loss of sight of both eyes, loss of two limbs is covered up to 100% of CSI.
• Permanent Partial Disability (PPD) is covered up to a specific percentage of CSI, as mentioned in the sub limit.
• Temporary Total Disability (PPD) is payable up to the sub limit, as specified in the schedule.
• Cost incurred towards the carriage of dead body to his/her home is covered. This benefit also includes funeral charges.
• Cost of Clothing when damaged in accident is covered up to the sub limit.
• In the event of AD/PTD, education fund is payable up to 2 dependent children aged up to 23 years.
• Medical expenses incurred resulting from an accident are covered. It is an add-on cover.
• Hospital Confinement Allowance is payable as specified in the sub limit. It is available as an optional cover.

Value Added Benefits

• Ambulance charges incurred for transporting the insured person from the place of accident to the hospital.
• Avail cumulative bonus. 5% increase in CSI for each claim free policy year, subject to a maximum of 50% of CSI.
• Stay covered against accidents with worldwide cover under this policy.

Sub Limits

• Permanent Partial Disability is capped in-between 2% to 50% or other percentage of CSI as assessed by the panel medical practitioner.
• Temporary Total Disability is capped up to 1% of CSI or Rs 5,000 whichever is less. This benefit is payable to a maximum of 104 weeks.
• Cost for carriage of dead body is capped up to 1% of CSI or Rs 2,500 whichever is less.
• Cost of Clothing is capped up to actual expenses incurred, subject to a maximum of Rs 1,000.
• Ambulance charges are capped as actual expenses, to a maximum of Rs 1,000.
• Education fund is capped up to 5% of CSI, subject to a maximum of Rs 15,000 per child.
• Medical expenses are payable up to actual medical expenses, 40% of accident claim amount, or 10% of CSI whichever is lower.
• Hospital Confinement Allowance is payable up to Rs 500 per day and it is payable up to the actual number of days or 30 days, whichever is less.

Waiting Period Clause

No waiting period is applicable.