India Post Payments Bank offers Rs 10 lakh cover in this accident insurance scheme; details here

The premium plan offers a range of benefits like last rites benefits for up to Rs 5,000, family transportation benefits up to Rs 25,000 and more

FP Trending September 28, 2022 14:41:45 IST
India Post Payments Bank offers Rs 10 lakh cover in this accident insurance scheme; details here

Representational Image. PTI

The India Post Payments Bank (IPPB) has come up with an accident insurance plan that will surely make customers happy. The plan, which costs Rs 399 per annum for the premium version and Rs 299 for the basic version, will protect customers in case of any death, disability or financial loss occurring from an accident. The group accident insurance plan offered by IBPB provides coverage for one year in case of any unforeseen event, with benefits for medical expenses, education and more.

Here is all you need to know about the IPPB accident insurance scheme:

Both the basic and the premium group accident insurance plan promise to give the policy holder or their family Rs 10 lakh in case of accidental death, permanent partial disability, permanent total disability or accidental dismemberment and paralysis.

Both plans do not cover dangerous sports, disease, bacterial infections, war, suicide, illegal acts and military services or operations.

The basic plan:

The basic plan is being offered by India Post Payments Bank for Rs 299 yearly. It promises to cover Accidental Medical Expenses (IPD) for up to Rs 60,000 and Accidental Medical Expenses (OPD) for up to Rs 30,000. It does not offer benefits like last rites or education benefits.

The premium plan:

The premium plan offers a range of benefits like last rites benefits for up to Rs 5,000, family transportation benefits up to Rs 25,000 and more. It also promises an education benefit of “10% of SI or Rs 100000 or actual whichever is lower for maximum 2 eligible children”, according to the IPPB website. The premium plan also gives in-hospital daily cash of Rs 1000 for 10 days. The plan also covers Accidental Medical Expenses (OPD) for up to Rs 30,000 as well as Accidental Medical Expenses (IPD) for up to Rs 60,000. It costs Rs 399 yearly.

Anyone between the ages of 18-65 can avail the plans. For more information, you can visit the IPPB website.

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