Personal Accident Insurance Policy: Personal Guard

Why choose Bajaj Allianz Personal Guard?

An accident can take less than 60 seconds to irrevocably change your life. It can happen to you or any of your family members; anywhere and at any time and you need to be prepared for it. We don’t know what is in store for us in the unforeseeable future but we can always stay ready to face it.

We, at Bajaj Allianz General Insurance, understand this and our Personal Guard insurance policy is designed to cover you from the consequences of any unforeseen accidents. This health insurance policy helps you get your life back to normal after an accident, by paying your medical bills, providing children education benefit and much more.

Your financial security is in the right hands with our Personal Guard policy that covers you and your family against any accidental bodily injury, disability or death.

To understand the different types of covers available under this policy.

Key Features of Personal Accident Insurance Policy

A policy that offers protection against accidents with the following features :

Extensive cover

This policy insures:

Death: In case of death due to an accident, 100% of the sum insured will be payable to your nominee.

Permanent total disability (PTD): In case of PTD due to an accident, avail compensation of 125% of the sum insured.

Permanent partial disability (PPD): In case of permanent partial disability due to an accident, we will pay the percentage of sum assured as applicable:

- Temporary total disability (TTD): In case of TTD, you are eligible to receive 1% of the sum insured or Rs 5,000 per week, whichever is lesser.

Hospital confinement allowance

If the claim is accepted under death, permanent total disability, permanent partial disability, or temporary total disability, then, we will pay you Rs 1,000 per day of hospitalisation, maximum up to 30 days per policy period.

Children education benefit

In case of death or permanent total disability, one-time payment of Rs 5,000 will be payable towards the cost of education for each dependent child, up to 2, who are under 19 years on the date you met with the accident.

Covers medical expenses due to accidental injury

If the claim is accepted under death, permanent total disability, permanent partial disability, or temporary total disability, then, we will reimburse the cost of medical expenses due to the accidental injury up to 40% of the valid claim amount or actual medical bills, whichever is lesser.

Additional Benefits with Your Personal Guard

This policy provides total coverage against death, injury or disability caused due to accidents with various benefits:

Family discount

Insure your family and avail a family discount of 10%.

Hassle-free claim settlement

Our in-house claim settlement team provides seamless and quick claim settlement. We also offer cashless facility at more than 18,400+ network hospitals* across India. This comes in handy in case of hospitalisation or treatment wherein we take care of paying the bills directly to the network hospital and you can focus on recovering and getting back on your feet. 

Flexible premium computation

The premium differs in case of different risk levels determined by your occupation

Risk Level I: Administrative/managing functions, accountants, doctors, lawyers, architects, teachers.

Risk Level II: Manual labour, garage mechanic, machine operator paid driver (car/truck/heavy vehicles), cash-carrying employee, builder, contractor, a veterinary doctor.

Risk Level III: Workers in underground mines, electric installations with high tension supply, jockey, circus performers, big game hunters, mountaineers, professional river rafters and similar occupations.

Note: For occupations not specified above, please inquire with us.

Annual Premium Rate

You can choose from a range of premium options based on your requirements:

Cumulative bonus

Avail a cumulative bonus of 10% for every claim-free year up to a maximum of 50%, reduced by 10% if a claim is registered.

Comprehensive Coverage

The CPA insurance policy by Bajaj Allianz covers a wide range of scenarios, ensuring that you are protected in various situations. The coverage includes:

- Accidental Death: In the unfortunate event of the insured owner-driver's death due to an accident, the policy provides 100% of the sum insured.

- Permanent Total Disablement: If the insured suffers from permanent total disablement, the policy offers 100% of the sum insured.

- Loss of Limbs or Sight: The policy compensates for the loss of two limbs, sight of both eyes, or one limb and sight of one eye with 100% of the sum insured. For the loss of one limb or sight of one eye, 50% of the sum insured is provided.

Sum Insured

The total liability of the insurer under this policy is capped at Rs. 15 lakhs during any one period of insurance. This ensures substantial financial support in the event of a severe accident.

Conditions and Exclusions

While the policy offers extensive coverage, it is important to note certain conditions and exclusions:

Single Compensation: Compensation is payable under only one of the specified categories (death, loss of limbs/sight, or permanent total disablement) for any one occurrence.

Exclusions: No compensation is payable for injuries or death resulting from intentional self-injury, suicide, attempted suicide, physical defects, infirmities, or accidents occurring under the influence of intoxicating substances.

Benefits of Compulsory Personal Accident Insurance

Financial Security

Accidents can lead to significant financial strain due to medical expenses, loss of income, and other unforeseen costs. The CPA insurance policy provides a financial cushion, ensuring that you and your family are not burdened during such challenging times.

Peace of Mind

Knowing that you have comprehensive coverage in place allows you to drive with confidence. The assurance that your loved ones will be financially protected in the event of an accident brings immense peace of mind.

Easy Claims Process

Bajaj Allianz General Insurance offers a straightforward and hassle-free claims process. Compensation is payable directly to the insured or their legal representatives, ensuring quick and efficient settlement.

Coverage Details at a Glance

The CPA cover provides compensation based on the severity of the injury sustained by the insured owner-driver. The compensation is paid as per the following scale:

Steps to Secure Your CPA Insurance

1. Contact Bajaj Allianz: Reach out to Bajaj Allianz General Insurance through their website, customer care, or authorized agents.

2. Provide Vehicle Details: Share your vehicle details and personal information.

3. Choose Coverage: Select the desired coverage amount up to Rs. 15 lakhs.

4. Make Payment: Complete the payment process through available online or offline modes.

5. Receive Policy Document: Get your policy document via email or post.

Get the Essential Compulsory Personal Accident Insurance Today!

Bajaj Allianz General Insurance's Compulsory Personal Accident Insurance is an indispensable cover for every vehicle owner-driver. It provides comprehensive financial protection in the event of an accident, ensuring that you and your family are safeguarded against unforeseen circumstances. With its extensive coverage, easy claims process, and substantial sum insured, this policy is a must-have for every responsible driver. Secure your future and drive with confidence by opting for Bajaj Allianz's CPA insurance today.

Basis of Arriving at Insured Declared Value (IDV) of the Insured Vehicle:

List of products specified in the list above are governed by the Indian Motor Tariff. 

The Insured’s Declared Value (IDV) of the vehicle will be deemed to be the ‘Sum Insured’ and it will be fixed at the commencement of each policy period for each insured vehicle.

The IDV of the vehicle (and accessories if any fitted to the vehicle) is to be fixed on the basis of the manufacturer’s listed selling price of the brand and model of the insured vehicle at the commencement of the Policy. The IDV shall change according to the depreciation grid below for each block of one year within the policy period. 

THE SCHEDULE OF DEPRECIATION FOR FIXING IDV OF THE VEHICLE

The IDV arrived as per the above method may be further adjusted basis various factors such as location, make and model etc, with agreement of the Insured and as captured in the Policy Schedule.

The age-wise depreciation schedule shown above is applicable only for Total Loss/Constructive Total Loss (TL/CTL)/Cash Loss claims.

IDV of vehicles beyond 5 years of age and for obsolete models (i.e. models that manufacturers have discontinued) is to be determined on the basis of mutual agreement between the Insurer and the Insured.

IDV shall be treated as the Market Value throughout the Policy Period without any further depreciation for the purpose of Total Loss (TL)/Constructive Total Loss (CTL)/Cash loss claims.

Basis of Arriving at TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle:

The insured vehicle shall be treated as a CTL if the aggregate cost of retrieval and/or repair of the vehicle, exceeds 75% of the IDV of the vehicle, subject to terms and conditions of the policy.

The liability of the Company shall not exceed the Insured's Declared Value (IDV) of the vehicle in the event of total loss/ constructive total loss/cash loss for the year in which loss has occurred. IDV as on date of loss shall be computed as specified under basis of arriving at Insured Declared Value (IDV)

If a damaged motor vehicle is assessed as being unrepairable and hence a wreck i.e. a ‘total loss’ or ‘write-off’, You shall have the option to retain the wreck and accept a ‘cash loss’ settlement (being the IDV less the assessed value of Salvage based on competitive quotes procured by the Insurer including any submitted by or through the Policyholder).

Note: For the purpose of computation TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle aggregate cost of retrieval shall mean Company’s aggregate liability as per the terms and conditions of the policy.

Note: For the purpose of computation TL (Total Loss)/CTL (Constructive Total Loss) of the Insured Vehicle aggregate cost of retrieval shall mean Company’s aggregate liability as per the terms and conditions of the policy.