India Post not only provides postal delivery services , but it is also an essential medium in banking services, particularly in rural regions.
In the present, India Post has a vast network throughout the nation. To safeguard its customers from possible events such as accidental death or disability or disability, it has launched an insurance plan.
India Post Payments Bank has launched an insurance plan for accidental losses that costs just Rs 399 or two hundred dollars.
The premium plan is provided to IPPB customers at a cost of Rs 399, the base plan is priced at Rs 299 one year.
Life is full of uncertainty and accidents can strike anyone at any point. Although accidents cannot be planned however, it is possible to be prepared for unexpected costs.
IPPB’s personal accident insurance group offers accident insurance to all its customers.
The purchase of an accident insurance may be the most effective alternative to keep unanticipated costs in check.
The IPPB customers aged between 18 and 65 years may take advantage of both policies for one year when they pay the premium required.
The India Post’s Premium Insurance plan for Rs 399
The premium plan provides you with an insurance policy for the duration of a year.
It guarantees Rs 10 lakhs in the event an accident causes death as well as permanent disability permanent partial disability and paralysis or dismemberment.
You can also claim for medical expenses incurred in the course of IPD as high as Rs. 60,000 or the equivalent of Rs 30,000 for accident medical expenses within OPD.
If you’re in a hospital you will receive the amount of Rs. 1000 per day for 10 days.
India Post’s Basic Insurance for Rs 299 Plan
In its basic insurance policy, IPPB is offering coverage of up to 10 lakhs in the event of accidental death, the permanent disability of totality, partial disability, accident-related paralysis and dismemberment.
This policy, however, does not provide benefits such as Education Benefit, In-Hospital Daily Cash and Transport for families, Benefits or Last Rites Benefit in the form of the premium plan of Rs 399.
Its Rs.299 policy however, gives you the benefit of Rs 60,000 for unintentional costs for medical treatment in IPD and the equivalent of Rs 30,000 in the event of unexpected medical costs in OPD.
The Advantages to the Post Office Rs 399 Insurance plan
* Unexpected Death This protects the death caused by accidents within the 365-day period from the accident date. Limit of coverage to 100% the Sum of the insured.
* Accidental Dismemberment and Paralysis This is a Dismemberment that is permanent and occurs within 365 days from the date of the accident.
Paralysis is movement (and occasionally to feel any thing) within a portion or all of the body due to an injury.
* The Education Benefit is: Total amount of insurance is payable in the event of an accidental death or permanently total impairment.
Benefits are available for children who is a full time student at any Institution.
* Permanent Total Disability This covers total Disability that is permanent and lasts for 365 days from the date of accident.
The maximum amount of coverage to 100% the Sum of the insured.
* Permanent Partial Disability This policy covers partial Disability that is permanent in nature and takes place within 365 days from the date of the accident.
The limit of coverage is determined by the percentage of coverage specified in the this policy document.
However it’s true that it is important to note that the Post Office Accident Insurance policy does not provide coverage for suicide,
military services and operations an illegal act, bacterial infection illness, AIDS, or dangerous sports, to mention some other exceptions.