Gurgaon, Haryana, India, Republic of (Free-Press-Release.com) April 3, 2013 -- One of the best accident insurance plans in India is IPA, Individual Personal Accident Insurance Policy. The plan is available in two variants to cater t the needs of people of different income groups.
A person cannot ignore the ‘uncertainty’ factor of life. A person is unaware of what is going to happen with him or her in the coming fractions of second. It may bring fortunes or misfortunes in his or her life. a human being generally worries for the misfortunes that incidents, like an accident bring in. There are myriad of hassles that the victim and the family have to go through in life after such incidents. The best way to seek protection from these incidents of life is to invest money in accident insurance plans that have been brought by different companies to help victims in times of emergencies.
One of the most popular accident health insurance plans is IPA, Individual Personal Accident Insurance Plan brought by Apollo Munich, a joint venture between the Apollo Group of Hospitals and Munich Health. Both the partners are leading players in their respective field and the company takes advantage of their experience and knowledge for designing health insurance products for the betterment of the Indian citizens. Individual Personal Accident Health Insurance plan is a comprehensive coverage offering plan that takes into account all the medical needs of a person that one may comes across after an accident.
The plan works on the principal of benefit that pays policy holder lump sum amount on occurrence of certain event, as stated in the plan’s terms and conditions. The remarkable aspect of this plan is that it is available at cost-effective price that can easily be afforded by people of all income groups.
Let’s focus at few of the benefits of Individual Personal Accident Insurance Policy.
Death due to an accident: In case of an insured’s death, the insurance company offers beneficiary or nominee the lump sum amount, as promised in the contract, as compensation for the loss of the family income.
Disablement due to an accident: If an accident results in disablement of an insured, the plan offers the needed financial assistance, depending upon the extent of disablement incurred. In case of permanent total disablement, one can get maximum of sum insured amount, while in case of temporary disablement, the coverage limit may vary, depending upon the plan’s conditions. The policy wording of the plan contains the complete elaboration of the coverage offered to the victim under different circumstances.
Besides death and disablement, Individual Personal Accident Insurance Policy is designed to offer coverage against emergency services, like ambulance charges with limit to Rs 2000 and transportation of mortal remains, with limit to 2% of the sum insured amount or maximum of Rs 10,000. If a patient is hospitalized certain kilometres away from the home town, an insurer offers the coverage for the transportation charges of family member. Generally, it is 1% of the sum insured amount or maximum of Rs 1 lac.
In addition to it, the policy offers cover to education funds of the kids. It has a limit of 10% of the sum insured amount, with maximum of Rs.20,000. This coverage increases in case of temporary total disablement.
Apollo Munich is well known for adopting unique ideology for designing of products. The experts carry out extensive research in identifying health needs of people and designing accordingly. In order to cater to the needs of people of different sections of society, this plan with two variants: Standard and Premium.
The ‘Premium’ variant offers the wider coverage with maximum limit of Rs 500 lacs as sum insured amount.
The Standard variant offer the sum insured range of Rs 1 lac to Rs 50 lacs. A person can buy the one, as per his or her needs and budget.
The ‘Premium’ variant offers wider coverage, including cover to broken bones, purchase of blood, purchase of oxygen, transportation of imported medicines, etc, thus making medical care easy and affordable. Looking into the needs of people, the plan also offers coverage for the modification of vehicle or residence that has been damaged due to an accident. In order to offer the needed financial assistance to people for making medical treatment easy, IPA also offers coverage for inpatient treatment expenses that an insured has to undergo due to hospitalization after an accident.
