Tata AIG Income Guard

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Tata AIG Income Guard

	Objective			This is a personal accident insurance policy that aims to cover a family in its ambit. It is a comprehensive policy that will take care of incidental expenses and losses.
Suited for			This policy can be bought for an individual or for a family to cover spouse and up to three children under one policy.
What does it do?			It pays the agreed sum insured on unfortunate demise of the insured member due to an accident. A family floater covers the spouse for 50 per cent of the basic sum insured and children for a maximum sum of 10 per cent, for each selected benefits offered under this policy. Cover for other related expenses increase the attractiveness of this plan.
Pros			It offers 5 per cent increase in the sum insured on renewal.
Cons			This policy does not cover temporary disability.
Our View			This is a decent policy that can be bought as an individual or family cover. Expenses like modification of house or vehicle in case of disability, education benefit for children on demise of the insured member are useful benefits.
Eligibility
Entry Age (years)
Minimum		18; 6 months for children
Maximum		70; 18 for children(23 in case child is financially dependent, unmarried, Full time student in accredited Institute)
Coverage Type		Individual/ Family
Policy Term (years)		1
Sum Insured (Rs)		As stated in the Scope of Cover. Spouse is covered for 50% and upto 3 dependent children are covered for 10% each of selected benefit
No Claim Bonus		5% of original benefit is added to the sum insured for a maximum of 5 years on each policy renewal
Policy Termination		Insurer may cancel the policy at anytime by providing a prior notice of 7 days. Policy can be cancelled by insured person as well. Insurer will refund a proportionate premium as stated in the policy document
Customer Service		Registered Office:TATA AIG Insurance, 9th Floor, Piramal Towers, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400 01
Customer Service
Mail to		customersupport@tata-aig.com
Call to		1800-266-7780
SMS		TAG to 5616181
Network Hospitals		Http://emeditek.co.in/Network_Provider.aspx

 

	Scope of Cover
		Plan Options
		Level 1		Level 2		Level 3
Accidental death		10 lakh		15 lakh		20 lakh
Partial disability		pays a pre specified percentage of sum insured on basis of nature of disablement upto maximum of Rs.20 lakh		pays a pre specified percentage of sum insured on basis of nature of disablement upto maximum of 30 lakh		pays a pre specified percentage of sum insured on basis of nature of disablement upto maximum of 40 lakh
Total Disability		10 lakh		15 lakh		20 lakh
Special Coverage(only with Family Plan Option)
Special Education Benefit (for full time child in Grade 12 or above in case of death of insured member)		covered for maximum upto 10% of principal Sum Insured
Modification of House &/or vehicle in case of disability		covered upto maximum of Rs 50000
Repatriation of Remains		covers expenses upto Rs 5000
Family Transportation		covers expenses upto Rs 25000
Additional Benefits
Tuition benefit (in case of accidental death)		Rs 150000
Home Alteration & Vehicle Modification Benefit		covers expenses incurred between 1 year after the date of accident upto amount stated in the policy schedule
Repatriation benefit		pays upto maximum of Rs 5000
Family Transportation benefit		reimburses the actual expenses subject to maximum of Rs 25000

 

	Exclusions and Waiting Period
Pre-existing diseases		not covered

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