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ICICI Lombard Personal Protect Policy

Life is full of surprises and uncertainties. Due to this nature of life, you should always remain protected and secure, and more than that, you need to safeguard your family so that they should not fall into any kind of financial trouble. Understanding this situation, ICICI Lombard Insurance Company has come up with a Personal Protect Insurance plan that is specially designed to offer you protection in case of an accident. The plan offers monetary support to the insured person in case of a grievous accident and even takes care of you in the unfortunate event of being permanently disabled due to an accident. To know more about this plan, have a look at the following mentions.

Eligibility Criteria

ParametersDescriptions
Entry age

Minimum – 18 years, Maximum – 65 years

RenewabilityLifelong renewals
Free look period15 days
Policy typeIndividual policy and Family Floater policy
Who can be coveredSelf. Legally married spouse, dependent children, and dependent parents.
Sum insured optionsRs. 3 Lakhs, Rs. 5 Lakhs, Rs. 10 Lakhs, Rs. 15 Lakhs, Rs. 20 Lakhs, and Rs. 25 Lakhs

Details of ICICI Lombard Personal Protect Policy

This policy has come up with a sack full of benefits and facilities that promise you a secure life. The following table contains a brief sketch of the details of the plan.

ParametersDetails
Accidental deathIn case of death due to an accident, within the policy period, the nominee or the beneficiary mentioned in your policy will be compensated with the sum insured.
Permanent Total Disablement (PTD)In case of a permanent and total loss of limbs, sight, etc. due to an accident, you will be compensated with the sum insured. This includes the sight of both eyes, both hands, both feet, one hand, and one foot, one eye, and one hand or one foot.
Permanent Partial Disablement (PPD)The Company agrees to pay such Sum Insured as mentioned in the policy wordings for permanent partial disablement which arises solely and directly from an Injury, within twelve months from the date of the accident.
Temporary Total Disablement (TTD)

On the occurrence of Temporary Total Disablement, which means such loss caused to the Insured Person, the company agrees to compensate a certain percentage of the sum insured. The followings are the conditions:

  • It should result solely and directly from an Injury sustained from an accident.
  • It has to occur within the Policy Period or Policy Year of an active policy.
  • There should be complete incapacitates of the Insured Person in engaging in any employment or occupation.
  • The company will compensate for a certain time period.

Key Highlights of ICICI Lombard Personal Protect Insurance

Apart from the above general benefits of the policy, it has also come up with numerous special advantages and additional benefits that have made the policy unique and popular among consumers. The mentions are as below.

Accidental Hospitalisation Expenses Reimbursement:

You can opt for an additional cover to compensate expenses in case of a minimum of 24 hours of hospitalization due to injury within 7 days of the date of the accident by paying a little extra premium amount.

Accidental Hospital Daily Allowance:

The company offers an additional cover that gives you a per day allowance for each day of hospitalization after the insured event, not exceeding 30 days of hospitalization, with a deductible of 1 day.

Carriage of Dead Body:

In consideration of the payment of additional premium, the Company agrees to reimburse such expenses which are incurred, subject to a maximum of Sum Insured as mentioned in the policy schedule, for transportation of Insured Person’s dead body to the place of residence from the place of death. Further, it should satisfy all the terms and conditions of the policy.

Permanent Total Disablement Improvement Benefit Extension:

Under this benefit, the Company agrees to pay such an additional amount which is equal to the amount as indicated in the policy schedule to the Insured Person for any Permanent Total Disablement suffered by the insured person that is subject to the sub-limits and terms and conditions of the company.

Children’s Education Grant Extension:

In the event of Death or Permanent Total Disablement suffered by the Insured Person, the policy will pay for the education of the affected child up to a certain limit.

Ambulance Charges and Funeral Charges Extension:

You can extend the limit of the ambulance charges and funeral expenses if you opt for this additional cover by paying an additional premium amount towards the policy. These are two different additional covers. Therefore, to avail of these two facilities, you need to pay the additional premiums separately.

Repatriation of Remains Extension:

The company reimburses the costs of transporting the mortal remains of the deceased Insured Person from the place of death back to the city of residence in the event of the death of the Insured Person subject to the Sum Insured.

Convalescence Benefit:

In the event of the Insured Person sustaining Injury during the Policy Period/ Policy Year, which on the written advice of a Medical Practitioner requires Hospital Confinement and such Hospital Confinement exceeds a certain consecutive day, then the Company will pay the amount as stated in the policy wordings, only if the Hospital Confinement arises out of an Injury within 7 days from the date of Accident.

Double Benefit:

If any two or more Insured Persons, covered under this Policy, sustaining Injury as a consequence of the same Accident, during the Policy Period, or Policy Year, and this simultaneous Hospitalization exceeds a certain consecutive day for each of such Insured Person(s), then the Company will pay a certain amount mentioned in the policy schedule.

General Exclusions of ICICI Lombard Personal Protect Insurance

Understanding a policy is not complete if you do not go through the exclusions of the policy thoroughly. Therefore, to avoid future complications and to give you a comprehensive idea of the policy, here are the exclusions of ICICI Lombard Personal Protect Insurance.

  • If the hospitalization does not commence within 7 days from the date of the accident, the policy will not pay for the expenses.
  • If the injury is self-inflicted or occurs due to suicide or suicide attempts, the company is not liable to pay any reimbursement.
  • If the injury or the accident occurs while the affected person is under the influence of a drug, alcohol, or any other intoxicating substance, the company will not take any responsibility for that.
  • If the accident occurs whilst engaging in aviation or ballooning, or whilst mounting into, or dismounting from or traveling in any balloon or aircraft other than as a passenger (fare-paying or otherwise), or engaging in any kind of adventure sports for personal gratification, that will also fall under the category of exclusions.
  • The policy will not reimburse for any venereal diseases.
  • If there is any kind of breach of law, the policy will not approve the claim.
  • Accidents that occurred due to war, war-like situations, invasion, civil war, public unrest, etc., will not be covered by the policy.
  • Any injuries arising out of radiation, nuclear energy, ionizing radiation, nuclear waste, etc., will be excluded from the policy as well.
  • Hospitalization of the Insured Person resulting directly from, or indirectly caused by, or contributed to or aggravated or prolonged by, childbirth or pregnancy or in consequence thereof will fall under the category of exclusions.
  • Any claim raised against any situation that is not covered by the policy will not be approved by the company.

ICICI Lombard Personal Protect Policy Premium

To give you a better idea about this plan, here is an example.

Suppose Mr. Mishra, a 36-years old Mumbai-based businessman, bought ICICI Lombard Personal Protect Insurance Policy. Now, let us find out how much premium amount he has to pay for different sum insured options while the other credentials remain the same to avail of the benefits of this policy.

Sum insuredPolicy durationAdditional coveragePremium amount
Rs. 10 lakhs3 years
  1. Accidental hospitalization expenses cover
  2. Accidental hospital daily allowance
Rs. 7387
Rs. 15 lakhsRs. 9166
Rs. 20 lakhsRs. 11291

Frequently Asked Questions

No pre-policy health check-up is required to avail of the benefits of the policy.

This policy covers different types of accidents such as road, and rail accidents, accidents due to natural calamities, arising out of terrorism, or terrorist acts.

The following table denotes the sub-limits of the sum insured amount in case of permanent partial disability.

Losses coveredPercentage of the sum insured
Loss of Use/ Physical Separation (One entire hand or one entire foot)50%
Loss of Use of one eye50%
Loss of toes – all50%
Loss of Use of both ears50%
Loss of Use of one ear20%
Loss of four fingers and thumb of one hand40%
Loss of four fingers35%
Loss of thumb – both phalanges25%
Loss of Index finger- three phalanges10%
Loss of middle finger – three phalanges6%
Loss of ring finger – three phalanges5%
Loss of little finger – three phalanges4%

Loss of metacarpus

  • First or second (additional)
  • Third, fourth, or fifth (additional)
3% and 2% respectively

Yes. The company will cover an economy class air ticket for up to Rs. 20,000 for your children, parent, or spouse, so that they can visit you.

In case of an accident, an FIR or panchnama is mandatory to avail of a successful claim.

The following Refund Grid is applicable to Policies having a policy period lesser than or equal to one year.

Period of RiskPercentage of premium refunded
Up to 1 month75%
Up to 3 months50%
Up to 6 months25%
Exceeding 6 monthsNIL

 

Percentage of refund premium:

Year of cancellationPolicy period
23
Year 125%45%
Year 211%
Year 3

No, this policy is strictly made for accidental injuries or death. It does not provide any coverage for diseases or ailments.

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