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Travel
Insurance is now an essential security
tool, to ensure protection against unforeseen
accident whilst traveling. Travel has
become essential for the average citizen.
People travel for business, holiday, education
and other requirements. To offer the Indian
traveler protection in respect of road/rail
travel, National Insurance Company (NIC)
has developed a unique product called
Traffic Accident Policy.
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a) Personal Accident Benefit Part.
This consists of the following benefits
if the insured sustains bodily injury
due to accident caused by external, violent,
visible means.
Death - Rs. One Lakh
Loss of two limbs/two eyes/one limb and
one eye - Rs. One Lakh
Loss of one limb or one eye - Rs. Fifty
Thousand
Permanent Total Disability - Rs. One Lakh
This part of the policy covers death /
disability on 24 hour basis and is not
limited only to accidents due to rail/road
travel, but covers all types of accident.
b) Personal Accident Reimbursement Part.
If the insured person sustains bodily
injury which requires medical treatment
as advised by a qualified Medical Practitioner
arising solely and directly from rail/road
accident, the expenses for the medical
expenses for treatment as under:-
Hospitalization expenses for medical /
surgical treatment at nursing home / hospital
as an inpatient - up to Rs. One Lakh.
Outpatient treatment up to Rs. 10,000/-
within the overall limit of Rs. One Lakh
above.
Domiciliary hospitalization is also covered
in case the patient cannot be removed
to the hospital or for lack of accommodation
in hospital.
Premium : Rs. 150/- for each insured person
per year.
The policy has an assignment clause to
help the insured to nominate the beneficiary
in case of unfortunate death due to accident.
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