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General Insurance

Accident comes uninvited and they can unsettle your life and those of your loved ones. A little planning in this regard goes a long way for financial protection. Presenting Accident Care Individual Insurance from Fastmudra and Allied Insurance Co Ltd.- a policy that offers protection to you and your loved ones in case you meet with an accident because whatever happens, life must go on.


Eligibility
  • Entry age between 18 years and 70 years
  • Dependent Children can be covered from 5 months
  • Family means Insured Person, Spouse, Dependent Children between 5 months and 25 years of

Sum Insured shall be on the basis of the monthly income from gainful employment as prescribed by the Company

Risk covered

 

Table A

Accidental Death

100% of Sum Insured + Bonus (if any)

 

 

Table B

a. Accidental Death

100% of Sum Insured + Bonus (if any)

b. Permanent Total Disablement

150% of Sum Insured + Bonus (if any)

c. Permanent Partial Disablement

Specified percentage depending on the disability

 

 

 

Table C

a. Accidental Death

100% of Sum Insured + Bonus (if any)

b. Permanent Total Disablement

150% of Sum Insured + Bonus (if any)

c. Permanent Partial Disablement

Specified percentage depending on the disability

d. Temporary Total Disablement

The benefit under this table is payable during the period of Temporary Total Disablement of the person covered due to an accident and resulting in hospitalization. The compensation payable is at the rate of 1% of the sum insured, subject to a maximum of Rs.15,000/- , per completed week, upto 100 weeks.

Special Conditions
  1. If the Accident affects any physical or mental function, which was already impaired prior to the accident, a deduction as certified by a Government Doctor will be made in respect of this prior
  2. If the accident impairs a number of physical or mental functions, the degree of disablement given in the Table of Benefits will be added together, but liability in any case shall not exceed 100% of the Sum Insured (150% in case of Permanent Total Disablement)
  3. In case of Permanent Partial Disablement claim the Sum Insured under the policy will be reduced by the amount of admissible claim under the policy in respect of the Insured Person to whom such sum shall become

In the event of Permanent Disablement, the Insured Person will be under obligation

  • Total Sum Insured means total of sum insured opted under Table A, Table B and Table
  • Policy Term : 1 year / 2 year / 3 year
  • Policy  Premium             (Taxes             Extra) For purpose of rating, persons proposed for insurance are classified under three risk groups
    • Risk Group I- Persons engaged primarily in administrative
    • Risk Group II – Persons engaged in manual work other than what is specifically provided for under Risk Group III
    • Risk Group III – Persons working in explosives industry, mine and /or Magazine workers, high tension electric supply, horse racing including jockeys, athletes and occupations of similar hazard
Premium for One Year Policy

 

Coverage /

Risk Group

Premium ( Rs.) per mille sum insured

Risk Group I

Risk Group II

Risk Group III

Table A

0.43

0.60

0.80

Table B

0.70

1.30

1.75

Table C

1.25

1.75

2.00

Premium for Two Year Policy

 

Coverage /

Risk Group

Premium ( Rs.) per mille sum insured

Risk Group I

Risk Group II

Risk Group III

Table A

0.83

1.16

1.54

Table B

1.35

2.51

3.38

Table C

2.41

3.38

3.86

Premium for Three Year Policy

 

Coverage /

Risk Group

Premium ( Rs.) per mille sum insured

Risk Group I

Risk Group II

Risk Group III

Table A

1.20

1.68

2.24

Table B

1.96

3.63

4.89

Table C

3.49

4.89

5.59

 

Premium for Optional Benefits

Medical Expenses Extension

10% of the final premium per year per person

Winter Sports & Rallies

100% of the policy premium per person.

Hospital Cash

Rs.40/- per year per person

Home Convalescence

Rs.15/- per year per person

Final Premium means: Basic premium + premium for other extensions, if any Policy Premium means: Basic premium + premium of opted optional benefits

Family Discount: 10% discount on total premium if family is covered

Exclusions:
  1. Any payment, in case of more than one claim under the Policy, during any one period of insurance by which the maximum liability of the Company in that period would exceed the capital sum insured payable under this Policy except in case of Permanent Total Disability claim, in which case the amount payable is 150% of the sum insured. This exclusion will not apply to payments made under Medical Expenses Extension, Hospital Cash, Home Convalescence, Educational Grant, Ambulance Charges/Transportation of mortal remains, Travel expenses of one Relative, Expenses for Vehicle and /or Residence Modification, Purchase of Blood and Transportation of Imported

    Every renewal premium (which shall be paid and accepted in respect of this policy) shall be so paid and accepted upon the distinct understanding that no alteration has taken place in the facts contained in the proposal or declaration herein before mentioned and that nothing is known to the Insured that may result to enhance the risk of the Company under the insurer.

    Where a claim for 100% of the Capital Sum Insured is admitted / admissible, the policy cannot be renewed for such relevant person.

    Where a claim for less than 100% of the Sum Insured is admitted / admissible, the Company would exclude such disability on renewal in respect of such relevant person.

    In the event of this policy being withdrawn / modified with revised terms and/or premium with the prior approval of the Competent Authority, the insured will be intimated three months in advance and accommodated in any other equivalent insurance policy offered by the Company, if requested for by the Insured Person, at the relevant point of time.

    Renewal premium is subject to change with prior approval from the Regulator. Change of options/plans within same product are permissible only at the time of renewal.

Cancellation
  • The Company may cancel this policy on grounds of misrepresentation, fraud, moral hazard, non disclosure of material fact as declared in proposal form and/or claim form at the time of claim or non-co-operation of the insured person, by sending the Insured 30 days notice by registered letter at the Insured person’s last known address and no refund of premium will be made. The insured may at any time cancel this policy and in such event the Company shall allow refund after retaining premium at Company’s short period rate only (table given below) provided no claim has occurred up to the date of

 

 

For Policy Term of one year

Period on Risk

Rate of premium to be retained

For a period not exceeding 15 days

10% of the Annual Premium

For a period not exceeding 1 month

15% of the Annual Premium

For a period not exceeding 2 months

30% of the Annual Premium

For a period not exceeding 3 months

40% of the Annual Premium

For a period not exceeding 4 months

50% of the Annual Premium

For a period not exceeding 5 months

60% of the Annual Premium

For a period not exceeding 6 months

70% of the Annual Premium

For a period not exceeding 7 months

75% of the Annual Premium

For a period not exceeding 8 months

80% of the Annual Premium

Exceeding 8 months

Full Annual Premium

For Policy Term of two years

Period on Risk

Rate of premium to be retained

Up to 1 year

65% of the premium

Up to 2 years

Full Premium

For Policy Term of three years

Period on Risk

Rate of premium to be retained

Up to 1 year

45% of the premium

Up to 2 years

85% of the premium

Up to 3 years

Full Premium

How to claim?

Fast Mudra Claims Services is a hassle-free and customer-friendly process that ensures all settlements are processed promptly. As your health insurance specialist, we make cashless claims available across all our network hospitals in India. Courtesy, attention, speed, and efficiency are the high standards we strive to upkeep. We value our customer’s feedback and work hard to meet and exceed your expectations.

How to get claims faster?
  • The Fastmudra website contains a list of network hospitals, including Agreed network hospitals.
  • Search from the network list from our website and locate the nearest network hospital to your residence.
  • For planned surgery, approach the hospital prior to the date of admission who will send the completed pre-authorization form.
  • In the pre-authorization form, you are required to furnish your contact number.
  • If details are not complete, approval of the authorization request may be delayed
     
In Case of a Claim
  • Call 24 hours Toll Free help-line for assistance
  • Inform policy number for easy reference
  • Nomination facility is available under this policy
Prohibition of Rebates
  • Section 41 of Insurance Act 1938 : No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer:

Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakh rupees.

Illustration
Premium per person without optional benefits in Rs. Including of Tax @18%

 

 

Coverage /

Risk Group

Table A

Table B

Table C

Sum Insured Rs. 5,00,000

Group I

254

413

738

Group II

354

767

1033

Group III

472

1033

1180

Sum Insured Rs. 10,00,000

Group I

507

826

1475

Group II

708

1534

2065

Group III

944

2065

2360

Sum Insured Rs. 15,00,000

Group I

761

1239

2213

Group II

1062

2301

3098

Group III

1416

3098

3540

 

Premium per person with optional benefits in Rs. (Excluding Winter Sports) Including Tax @ 18%

 

Coverage /

Risk Group

Table A

Table B

Table C

Sum Insured Rs. 5,00,000

Group I

350

526

883

Group II

461

915

1207

Group III

591

1207

1369

Sum Insured Rs. 10,00,000

Group I

630

980

1694

Group II

850

1759

2343

Group III

1110

2343

2667

Sum Insured Rs. 15,00,000

Group I

909

1434

2505

Group II

1240

2602

3479

Group III

1629

3479

3965

 

Premium for winter sports and rallies : 100% of the policy premium per person

 

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