Terms & Conditions of Insurance Cover

Important Terms

• Insurance Coverage's are subject to Salary / Pension Credit received within 90 Days prior from the date of Accident / Death in IndusInd Bank's Salary account
  
• All covers offered under said policy is for both On Duty & Off Duty for all salary segments
  
• Counter Insurgency, Counter Terrorist, Counter Infiltration, Civil war and Cross board firing is covered
  
• Cover during air time, sea time, and training
  
• Mishap during Testing of Flights/ Equipment’s etc is covered
  
• In case of missing body, the claim to be processed under certificate from the respective HQ
  
• No Exclusion for uniformed personnel Police / Defence Etc. for Accidental Death due to Naxal / Mob / Terrorist Attacks etc.
  
• For defense personnel under salary segment, death due to cross border firing is covered.
  
• Any death during air time, sea time, and training is covered.
  
• Any death during training regimen is covered
  
• Any death where insured personnel was deputed is covered, and includes death due to accidents in high altitude (for eg. Avalanche) and difficult terrain (like Siachen) EQ, Flood & Terrorism.
  
• PA cover is payable where customer dies after MOU and before Salary credit, subject to that the salary of that month is credited in the IndusInd Bank’s salary account
  
• Any death, during rescue operation, riot like situation, civil commotion, Naxal combat, Terrorism attack, guarding important premises or within respective camps is covered.
  
• Education Grant for Dependent Child (Max Age Upto 23 yrs) - Max 2 Dependent Children
  
• Girl Child Benefit (Age 18 - 25 yrs) - Maximum 1 Girl Child
  
• All other terms and conditions as per standard Group Personal Accident Insurance Policy Claim document submission TAT is 180 Days from the date of accident / death/ loss
  
• Claim intimation submission TAT is 90 Days from the date of accident / death/ loss
  
• WAR is excluded from the scope of the policy
  
• PA Cover is on for deputation of claimant under assigned task or part of duty as a peace keeping force under UN Charter – Agreed only if the death is not due to war or warlike operations and terrorist encounters.

CHILDREN EDUCATION GRANT: (Max Age Upto 23 yrs) - Max 2 Dependent Children Per Account, Sum Insured as below
Sum Insured & Coverage as below:
In the event of death of the Insured person due to an accident as defined, the Policy shall pay as education grant for maximum 2 dependent children as below:

• If the Insured Person has one or more dependent children upto to the age of 23 years , an amount equal to INR 5,00,000/- per child will be payable on upfront basis.
• This amount shall be paid provided the Personal Accident claim has been admitted.
• Maximum Sum Insured is INR 10,00,000/-

DEPENDENT GIRL CHILD BENEFIT (Age 18 - 25 yrs) - Maximum 1 Dependent Girl Child Per Account Sum Insured as below-
Coverage:
In the event of death of the Insured person due to an accident as defined, the Policy shall pay as dependent Girl Child Benefit for the dependent Girl Child as below:

• If the Insured Person has one dependent girl child between 18 -25 years , an amount equal to maximum of INR 5,00,000/- for dependent girl child will be payable on upfront basis.
• This amount shall be paid provided the Personal Accident Claim has been admitted.
• Maximum Sum Insured is INR 5,00,000/- Lakhs (max one Girl Child)

Please Note: Maximum payout under Education Grant for Dependent Child + Dependent Girl Child Benefit with be INR 10 Lakhs. Beneficiary will not be able to claim > INR 10 lakhs under both the above addons collectively.

PERSONAL ACCIDENT COVER
Coverage is only for those Salary / Pension Account Holder which have this Coverage

INCLUSIONS: Insured Event

• In the event of any Accidental Bodily Injury sustained by the Insured during the Policy Period, the Insurer will make payment under such Coverage Parts as are specified in the Schedule as being operative.
• The Insurer’s liability to make payment shall be limited to the Sum Assured for each Coverage Part.

Coverage Parts

• Coverage Part A: Death

Coverage is for the Salary/ Pension Account holders - The Insurer will pay the Sum Assured in the event of Accidental Bodily Injury causing the Insured’s death within 12 months of the Accident, where after the Policy shall expire.

• Coverage Part B-Permanent Total Disability:

Coverage is for the Salary / Pension Account holders –

• The insurer will pay 100% of the sum assured if card holder meets with Accidental Bodily Injury during the Policy Period that causes Permanent Total Disability within 12 months of the accident.
• Sight of both eyes, or of the actual loss by “physical separation” of two entire hands or two entire feet, or of one entire hand and one entire foot, or of such loss of sight of one eye and such loss of sight of one eye and such loss of one entire hand or one entire foot
• Use of two hands or two feet, or of one hand and one foot, or of such loss of sight of one eye and such loss of use of one hand or one-foot
• Sight of one eye, or of the actual loss by physical separation of one entire hand or of one entire foot, fifty percent (50%) of the Capital Sum Insured stated, applicable to such Insured person.
• Total and irrecoverable loss of use of a hand or a foot without physical separation, fifty percent (50%) of the Capital Sum Insured stated, applicable to such Insured person.
• If the Insured was suffering from any permanent disability prior to the date upon which Accidental Bodily Injury was sustained, then the Insurer’s liability to make payment hereunder shall be reduced by the extent of the same, as advised by the Insurer’s medical advisors.

• Coverage Part C: Permanent Partial Disablement

Coverage is for the Salary Account holders. Disability to be adjudged by Army Doctors and certification as per their process.

• Coverage Part D: Air Accident Cover:

Coverage is only for those account holders for which salary / pension is credited as per condition no 1

• Coverage Part E: Additional PA cover for death due to terrorism activity:
• Additional INR 10 Lacs of payable for death due to terrorist activity should be without POS for Uniform Segment
• Additional Personal Accident Sum Insured of INR 10 Lacs for Defence / Police / Home Guard Etc. Uniform Salary Segment In Case of Death Due to Terrorism Only which has been declared by the Government of India as an act of Terrorism in the Indian Territory only.
• Additional sum insured will be payable over & above the salary segment PA sum insured subject to following conditions:
  • Death is due to terrorism which has to be declared by the government of India as an act of terrorism
  • Terrorist event is to be happened only in Indian territory.
  • The additional sum insured will be payable only if, Salary segment PA claim is admissible.
  • In case of Multiple Accounts, indemnity under this section will be restricted to highest sum insured of any one Debit Card.
  • This additional sum insured is to be availed along with salary segment PA claim only.
  • Claim intimation & other time lines will be as per Salary segment PA.

Exclusion under Personal Accident Insurance:

• The Cover becomes operational only after the conditions laid out in the policy schedule are fulfilled.
• No indemnity is available hereunder and no payment will be made by the Insurer for any Claim directly or indirectly caused by, based on, arising out of or howsoever attributable to any of the following:
  • Whilst under the influence of intoxicating liquor or drugs;
  • Any deliberate or intentional, unlawful or criminal act, error, or omission of the Insured.
  • From war (whether declared or not), invasion, act of foreign enemies, rebellion, revolution, insurrection, mutiny, military or usurped power, seizure, capture, arrest, restraint or detainment, confiscation or nationalization
  • Any consequential losses of any kind, and/or any actual or alleged legal liability of the Insured.
  • Whilst engaging in ballooning, whilst mounting into, dismounting from or travelling in any balloon.
  • Any loss suffered by the Insured on account of his participation as the driver, co-driver or passenger of a motor vehicle during motor racing.
  • Payment of Compensation in respect of death of, or bodily injury or any disease or illness to the Insured person.
    (a) directly or indirectly caused by or contributed to by or arising from ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. For the purpose of this exception, combustion shall include any self-sustaining process of nuclear fission.
    (b) directly or indirectly caused by or contributed to by or arising from nuclear weapons  Material.
    Curative treatments or interventions that the Insured performs or has had performed on   his body.
  • Venereal or sexually transmitted disease.
  • HIV (Human Immunodeficiency Virus) and/or any HIV related illness including AIDS (Acquired Immune Deficiency Syndrome) and/or mutant derivatives or variations thereof however caused.
  • Pregnancy, resulting childbirth, miscarriage, abortion, or complication arising out of any of the foregoing.