Saral Suraksha Insurance Policy: The world is full of uncertainties. In such a situation, you can avoid diseases with utmost care and safety. But accidents can happen anytime and anywhere. The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a standard personal accident insurance named ‘Saral Suraksha Bima’. With effect from April 1, 2021, all general and health insurance companies in India are offering this policy with uniform coverage. The cover will be offered with a tenure of one year. Here are some of the key features of Saral Suraksha insurance policy that customers need to know. Let us know what these things are –
Age Limit: Minimum age of entry for all Insurance members is 18 years and maximum age at entry is 70 years. Dependent children are covered from 3 months to 25 years of age.
Sum Assured : The minimum sum assured under the policy will be Rs 2.5 lakh and maximum Rs 1 crore. However, if it is purchased under a family plan, the sum insured is applicable to each member of the family separately.
Premium Payment: You can pay premium on yearly, half yearly, quarterly and monthly basis.
Nomination: Nomination facility is allowed under Saral Suraksha Bima policy.
Benefits: The policy includes three mandatory base covers.
1- Death: In case of death of the Life Assured, 100% of the Sum Assured will be paid as Benefit. If the death occurs as a result of injury sustained in the accident, provided the death occurs within 12 months from the date of the accident.
2- Permanent Disability: If the policyholder becomes completely disabled due to an accident during the policy term, they will be paid 100% of the Sum Assured as benefit.
3 – Partial Disability: For policyholders suffering partial disability due to accident, there will be a benefit of up to 50% of the total Sum Assured to be paid, depending on the severity.
4- Optional Cover: Three optional covers will be included with the policy, which include Temporary Total Disability Benefit, Educational Allowance and Hospitalization Expenses.
5- Bonus: Cumulative bonus will be applicable only in respect of Aadhaar cover.