IFFCO Tokio Personal Accident Insurance Policy
Every day, accidents occur, and given the state of the roads and the volume of traffic, there is always a significant risk of a collision. Even the safest drivers occasionally get into accidents because of the negligence of others. It is essential that you have Personal Accident coverage to protect yourself against the risk of a road accident.
IFFCO Tokio personal accident insurance protects you from the financial hardship caused by an accident. A fixed benefit plan called personal accident insurance offers policyholders financial security in the event of death or permanent or temporary disability resulting from an accident. Any of these unfortunate occurrences will result in a lump sum payout from the plan, according to the terms and conditions of the insurance policy.
Read on to know more about the IFFCO Tokio Personal Accident Insurance Policy in detail!
Here are the eligibility criteria for the IFFCO Tokio Personal Accident Insurance Policy.
|Policy Period||1 Year|
|Medical Test||Not Required|
|Sum Insured||Up to Rs. 15 Lakhs|
Features and Benefits of the IFFCO Tokio Personal Accident Insurance Policy
Here are the key features and benefits of the IFFCO Tokio Personal Accident Insurance Policy.
- Accidental Death: Death benefits are paid to the insured’s dependents or nominees in the event of a premature death due to an accident, protecting them from financial instability.
- Permanent Total/Partial Disability: If the insured is permanently disabled (e.g., loses their eyesight, hearing, speech, limbs, etc.), they are eligible to receive benefits according to the terms of their policy.
- Temporary Total Disability: If an insured person is disabled due to an accident, even temporarily, they are also eligible for benefit payments.
- Ambulance charges: If an insured person needs to be transported to the hospital by ambulance after the accident, ambulance fees are included.
- Employment Benefit: The personal accident policy also provides financial assistance up to a predetermined maximum for the policyholder’s loss of employment due to an accident. If an accident results in the loss of limbs, vision, or total and permanent disability, this coverage is provided.
- Education Fund: If an accident results in the insured person’s death or permanent total disability, their personal accident insurance policy also covers the cost of their dependent children’s education.
- Cumulative Benefit: At the time of renewal, the capital sum insured under this policy is automatically increased each year. No additional premium is needed from the policyholder to receive the increased sum insured, which is up to a predetermined limit.
- Little to no documentation: One of the main factors preventing many people from purchasing insurance is their perception that the procedure is difficult and involves a lot of paperwork. The reality is that you need not worry about the paperwork when you buy a personal accident insurance policy. The insurance provider will issue the policy after receiving your basic information on the application form.
- Peace of Mind: A policy for accidents will provide your family with financial security and protection in the form of accidental compensation. In the event of death, the insurance companies provide 100% compensation. The money can be used by the family to cover debts (if any exist) and continue living normally. Additionally, it gives you comfort in knowing that even without you, your family will be able to make ends meet.
Exclusions Under the IFFCO Tokio Personal Accident Insurance Policy
The individual personal accident policy has some exclusions. The official policy wording will contain a complete list of all exclusions and other terms and conditions. However, the following list of exclusions is general:
- Intentional injury: No claim will be honored under this policy if it is determined that the policyholder’s burns, broken bones, permanent partial disability, permanent total disability, dismemberment, temporary partial disability, temporary total disability, death, etc. were caused either intentionally or through intentional negligence.
- Injuries from civil or foreign war: No claim under this policy will be honored if it is found that the policy holder’s participation in a civil or international armed conflict was the cause of the burns, broken bones, permanent partial disability, permanent total disability, dismemberment, temporary partial disability, temporary total disability, death, hospitalization, etc.
- Injuries sustained while under the influence of alcohol or drugs by the policyholder: No claim will be honoured under this policy if it is discovered that the policyholder’s injuries—including burns, broken bones, permanent partial disability, permanent total disability, dismemberment, temporary partial disability, temporary total disability, death, and medical attention—were caused by drug or alcohol use.
- AIDS or HIV or other STDs: No claim will be honored under this policy if it is found that the policyholder’s STD caused their burns, broken bones, permanent partial disability, permanent total disability, dismemberment, temporary partial disability, temporary total disability, death, required hospitalization, etc.
- Injuries sustained while actively taking part in violent public disturbances or labor disturbances: No claim will be honoured under this policy if it is found that the policyholder was an active participant in any kind of labor disturbance, strike, demonstration, protest, riot, public disturbance, etc., and as a result, they sustained burns, broken bones, permanent partial disability, permanent total disability, dismemberment, death, required hospitalization, etc.
- Injured on duty with any of the armed forces: No claim will be eligible under the individual personal accident policy if the policyholder experiences burns, broken bones, permanent partial disability, permanent total disability, dismemberment, temporary partial disability, temporary total disability, death, required hospitalisation, etc. caused in the course of duty with any of the armed forces.
- Injuries sustained while engaging in any adventure sport: The claim will not be covered by this policy if it is determined that the policyholder’s injuries, such as burns, broken bones, dismemberment, permanent partial disability, permanent total disability, death, or the need for hospitalization, resulted from their participation in any dangerous sports, such as bungee jumping or river rafting.
- Claims that arise out of past illnesses or sicknesses: Claims under this policy will not be honoured if it is discovered that the policyholder suffered from burns, broken bones, a permanent partial disability, a permanent total disability, dismemberment, death, a need for hospitalization, etc. as a result of any pre-existing medical conditions or due to the deterioration of an existing illness.
- Claims that arise out of pregnancy or childbirth-related issues: Claims under this policy will not be honoured if it is found that the policyholder’s pregnancy or childbirth caused the burns, broken bones, death, dismemberment, permanent partial disability, permanent total disability, dismemberment, temporary partial disability, temporary total disability, required hospitalisation, etc.
Premium Illustration Of IFFCO Tokio Personal Accident Insurance
Let’s take the example of Mr. Sanju Rajput, living in New Delhi, looking to buy a plan that can protect him from accident-related injuries in the future. After getting abundant suggestions and conducting thorough research, Mr. Sanju stumbled upon IFFCO Tokio Personal Accident Insurance Plan. Here is the premium illustration according to his age and other considerations.
|Age||No. of Members Covered||Policy Inception Date||Policy Expiration Date||Any Pre-existing Condition||Premium Amount|
|30 Years||1||30/07/2023||29/07/2024||No||Rs. 262.71 + GST (Base Plan 300)|
|40 Years||1||30/07/2023||29/07/2024||No||Rs. 432.2 + GST (Base 500)|
How to Buy IFFCO Tokio Personal Accident Insurance Policy?
Accidents, however, may leave a person temporarily or permanently disabled, resulting in a loss of income as well as an additional financial burden from medical expenses. A personal accident policy protects you and your family financially in the event of an accident, in addition to paying out at the time of death. It reduces any financial difficulties that might develop as a result of lost income. The policy covers minor mishaps like falling off a bike or breaking an arm.
If you are looking to buy IFFCO Tokio Personal Accident Insurance Policy, listed below are the steps you should follow.
Step 1: Go to the official website of IFFCO Tokio General Insurance.
Step 2: In the second step, you will see the home page, wherein you will see the “More Products” section in the front. Click on it.
Step 3: Under the “Insure Health” option, click on “Personal Accident Insurance (PA)” to open the plan page.
Step 4: After that, you will see the quote box wherein you need to enter your name and mobile number to get started with the buying process.
Step 5: Then, a new page will open, asking you to enter your date of birth, policy inception date, mobile number, policy expiration date, email Id, and more. After that, you will need to click on the checkboxes and then click on “Calculate Premium”.
STEP 6: Then, you will see the plan detail. Check all the information to ensure they are correct and true to your knowledge. Click on the “Continue” button.
Step 7: In the seventh step, you will need to enter the emergency contact details like name and mobile number. Also, you are required to enter nominee details. Once you are done entering all the details, click on “Continue to Nominee”.
Step 8: In this step, mention any medical history you have in the past. After that, you will need to make the payment using your Credit Card/Debit Card.
How To Make a Claim for Your IFFCO Tokio Personal Accident Insurance Plan?
One must be familiar with the claim-filing process to file a personal accident insurance health insurance plan during an emergency. The steps for filing a personal injury health insurance claim are listed below.
Step 1: Inform the Insurer
Informing the IFFCO Tokio about the accident and the medical emergency should be your priority after an accident or within 24 hours of being hospitalised. You can do it by getting in touch with customer support or by visiting the insurance provider’s website.
Step 2: Provide Policy Documents
The insurer will then request all the documents related to the policy after being informed. For verification purposes, such as policy cards, receipts for premium payments, and so forth.
These documents contain all the details regarding your policy and its current status.
Step 3: Provide a Duly Filled in Claim form
The company will then give you a claim form for your policy, or if it hasn’t been given to the company yet, you can ask the company directly for one. The form must be completed with the necessary information, and the policyholder or their designee must sign it. You can submit the completed form to the insurer or TPA after properly filling it out.
Step 4: Submit other required documents as per the case
The insurer will request additional verification documents, such as proofs of identification and addresses after you have submitted the form and policy documents. Such documents would need to be submitted in copy form to the business.
Step 5: Scrutiny by Insurer
IFFCO Tokio will investigate to determine the validity of the claim and the accident after receiving all the paperwork and information regarding the required policy and treatment. Through this, the insurance provider wants to make sure that the medical care for which you are submitting a claim form is necessary, not unnecessary, and that it is solely related to an accident or another circumstance that is covered by the terms and conditions of the policy.
Step 6: Claim Settlement
After investigation and all necessary verification, if the company is confident in the validity of the claim, it may approve it. If the claim is denied, the company may request additional documents for additional verification. If they are still unsatisfied, they may then correct the claim.
How to Renew Your IFFCO Tokio Personal Accident Insurance Policy?
You will remain protected from any potential financial liability that may result from an accident if you renew your personal accident insurance policy on time. IFFCO Tokio makes it simple and quick to renew a personal accident insurance policy. Personal accident insurance can be obtained or renewed in a matter of simple steps.
Step 1: Go to the official website of IFFCO Tokio General Insurance.
Step 2: Then, you will see the home page, wherein you will see the “Renew Policy” section under the “How Can We Help You” tab. Click on it to continue with the renewal process.
Step 3: After that, click on “Personal Accident” to activate the renewal process. Then, you will need to enter your policy number and name and then click on the “Proceed” button.
Step 4: In the fourth step, you will need to make the payment to continue enjoying the benefits of your policy.
Step 5: Once your policy has been successfully renewed, the confirmation message will be sent to your registered mobile number and email ID.
Frequently Asked Questions
Yes. You can choose to take advantage of this benefit.
Yes. In the policy document, you must list the names of your nominees or beneficiaries, who will receive the insured amount from the insurance company in the event of your death.
Health insurance offers compensation or reimbursement for your hospitalization and other medical expenses, whereas life insurance offers death benefits to your nominees and beneficiaries in the event of your passing. Contrarily, a personal accident insurance policy for an individual will protect you from financial risks that could result from the permanent total disability or demise of the policyholder as a result of an accident. The insurance policy improves your financial situation and aids in securing the future of your dependent relatives.