India Post Payments Bank of Department of Post in association with insurance companies has introduced an accident insurance scheme for ₹10 lakh and ₹15 lakh with an annual premium of ₹520, ₹555 and ₹755.
A statement said that the insurance scheme with lower premium has been introduced with an objective to reach the benefits of accident insurance scheme to the common man through the post offices located across the length and breadth of the country.
People in the age group of 18 years to 65 years can join the accident insurance scheme. They can enroll themselves in a paperless mode without any application form and proof of identity and address.
The digital policy would be given within five minutes through the smart phone and biometric reader carried by the postman, the statement added.
All those who have their savings accounts with India Post Payments Bank can enroll themselves for the accident insurance scheme. For opening a savings bank account, people need to provide their Aadhar number, mobile phone number and ₹200.
Among the salient features of the scheme is compensation for loss of life due to accident, permanent disability and permanent partial disability.
The insured can also get annual full body check up, unlimited medical counselling over phone and medical expenses due to accidents. Besides, educational assistance of ₹1,000 to maximum of two children of the insured person in case of death, permanent disability and permanent partial disability due to accident.
Similarly, upto ₹1 lakh marriage assistance for two children.
Hospitalisation expenses of ₹1,000 per day would be given for admission in hospital due to accident for a maximum of 15 days.
Similarly, ₹5,000 funeral expenses would be given to the family members in the event of death of the insured due to accident.
Road accident, lightning strike, snake bike and accidental fall would be covered under the insurance scheme. The scheme would help the insured and his family members from financial burdens due to accidents.
Industrialists can make use of the scheme for their employees, the statement added.
