The policy offers support by covering a wide range of expenses, including hospitalization costs, outpatient treatment, personal and financial liabilities such as home, vehicle, and educational loans, and even legal assistance
According to the firm, this protection cover is designed to prevent customers from not just the effects of a personal accident, but the overall impact arising as an aftershock of an accident.
Standard personal accident insurance cover from April 1
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IRDAI issues guidelines, asks general, health insurers to launch it
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IRDAI issues guidelines, asks general, health insurers to launch it
The Insurance Regulatory and Development Authority of India (IRDAI) has mandated general and health insurers to offer Standard Personal Accident Insurance product from April 1.
It said this issuing guidelines for the standard product, whose basic mandatory cover features and policy wordings will be uniform. However, the cost of the Saral Suraksha Bima, as the cover will be known, is likely to vary with the regulator allowing insurers to determine premium.