L&T my Health Personal Accident Insurance Plan

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L&T my: health Personal Accident Insurance

	Objective			This is a standalone personal accident policy that covers accidental death, disability and other conditions to help family members and insured persons to cope up with the situation of financial instability caused as a result of accidental death or disability.
Suited for			This policy can be bought as an individual or family package cover including spouse, dependent child and dependent parents. Sum Insured for spouse and dependents will be limited to 50% and 25% respectively. This policy is a must for those engaged in high risk job profiles.
What does it do?			Its working is similar to any other personal accident policy that pays a lumpsum equal to the sum insured to the family members in case of death or permanent total disability of insured member caused due to an accident. If insured member becomes permanent partially disable, the insurance benefit to the insured person will vary depending on the type and nature of disability. It pays a weekly insurance benefit in event of temporary total disability. Apart from direct benefits, this policy ensures that inopportune events such as death or permanent total disability do not hinder insured's dependent children's education. It also pays a benefit in case of loss of employment as a result of accidental permanent disability. Transportation expenses , ambulance charges and out patient medical expenses for treatment following an accident are covered as well. The policy also provides an option to the policyholder to attach additional benefits to the policy by payment of an additional premium. Wheelchairs, crutches, artificial limbs and other external supporting items for use in case of disability can be added to the policy. Similarly other two benefits that can be included in the policy are cost of travel of insured member from place of accident to residence and hospitalisation expenses as a result of an accident.
Pros			It provides financial assistance for continuation of deceased policyholder's children education. It offers optional additional benefits as well.
Our View			This is a comprehensive accidental policy offering a broad coverage. Those looking for a personal accident policy may consider it as it offers to cover various other related expenses as well. Additional benefits can also be added on payment of a nominal extra premium if you wish to extend the scope of coverage.
Eligibility
Entry Age (years)
Minimum		18; 5 for children
Maximum		70; 18 for children
Coverage Type		Individual/ Family package
Policy Term (years)		1 or 2 or 3
Discount		10% discount on premium for 3 or more family members under the same policy. Long Term policy discount of 10% for 2 year policy and 15% for 3 year policy term
No Claim Bonus		5% no claim bonus for every claim free renewal till it reaches 50% of initial sum insured
Free look Period		15 days
Grace Period for Policy Renewal		30 days
Policy Termination		Either of the parties may terminate this policy by giving a 15 days notice. The insurer would pay proportionate premiums if no claim has been made.
Customer Service
Address		L&T General Insurance Company Limited 601-602, 6th Floor, Trade Centre, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051
Mail to		help@ltinsurance.com
Call to		1800-209-5846
SMS		'LTI' to 5607058
Network Hospitals		Http://110.234.8.38/ltweb/SearchNspWithoutLogin.aspx

 

	Exclusions and Waiting Period
Pre-existing disability		not covered

 

	Scope Of Cover
Death benefit		pays 100% of sum insured
Permanent total disability		Pays 100% of sum insured
Permanent Partial Disability		Cover varies from 1% to 50% of sum insured
Temporary Total Disability		pays 1% of sum insured per week subject to maximum of Rs 6000 per week for a maximum period of 100 weeks under this policy in respect of any one injury
Education benefit (for dependent child upto 23 years of age)		10% of sum insured upto maximum of Rs 12500 in case of one child or 10% of sum insured upto maximum of Rs 25000 for all children in case of more than one child
Loss of employment benefit		pays lower of 1% of sum insured or Rs 15000 in event of loss of employment as a result of loss of limbs/eyes or permanent total or partial disablement due to an accident
Transportation expense		covered upto 2% of the sum insured or Rs 2500 whichever is lower
Ambulance charges		covered upto Rs 1000
Out patient medical expenses		reimbursement up to 1000/- per accident or a maximum of 2500 per policy, for medical expenses incurred for treatment following an accident
Additional benefit (requires extra premium)
Cost of supporting items		pays lower of 2% of sum insured or actual expenses or Rs 10000 for use of wheelchair, artificial limbs, crunches etc.
Cost of travel		pays lower of 2% of sum insured or actual expenses or Rs 10000 for carrying insured member from place of accident to home
Medical extension benefit		pays a certain proportion of medical costs spent during hospitalisation as a result of accident

 

	Exclusions and Waiting Period
Pre-existing disability		not covered

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