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- Flexi Group Personal Accident
Flexi Group Personal Accident Policy ensures that the insured are safeguarded in case of any unfortunate accident. It is a comprehensive plan covering accidental death and disablement of employees / members of your company / group.
This policy is underwritten by The New India Assurance Co. Ltd.
In case of this unfortunate event due to an accident, the insurance company will pay 100% of the Sum Insured to the nominee.
The insurance company will pay 100% of the Sum Insured in case of any of the following:
- Loss of two limbs
- Loss of two eyes
- Loss of one limb and one eye
- Permanent Total Disablement arising from any injury apart from the ones above
The insurance company will pay 50% of the Sum Insured in case the injury results in permanent loss of one limb or permanent loss of one eye.
In case of permanent and partial loss of any part of the body as specified in the policy, the insurance company will pay a percentage of the Sum Insured as specified in the policy.
In case of temporary total disablement arising out of the injury, the insurance company will pay the insured a weekly compensation of 1% of Sum Insured for a maximum of 100 weeks, maximum weekly benefits not exceeding
Rs. 5000.
In case of an unfortunate event leading to death of the insured person, the insurance company will pay for the expenses for carriage of the dead body to the place of residence, subject to a maximum of 2% of the Sum Insured or Rs. 25,000, whichever is lower.
Policy can be extended to include medical expenses as per actuals or 40% of the valid claim amount or 10% of the Sum Insured, whichever is less.
OPD Treatment Coverage – OPD treatment is one in which the insured visits a clinic / hospital or associated facility like a consultation room for diagnosis and treatment based on the advice of a Medical Practitioner following an accident. The Insured is not admitted as a Day Care or Inpatient. The plan can be extended to cover OPD expenses as well.
The group proposed for insurance should fall under any of the following categories:
- Employer – Employee relationship including dependents of the employee
- Pre-identified segments / groups where the premium is paid by the State / Central Governments
- Members of registered service clubs
- Members of Credit Card or Banks/Diners/Master/Visa
- Holders of Deposit certificates issued by Banks / NBFC’s
- Shareholders of banks / Public Limited Companies
Axis Bank Limited ("Axis Bank") is registered with Insurance Regulatory & Development Authority of India ("IRDAI") as a Corporate Agent (Composite), IRDAI Registration No. CA0069 (valid till 31st March 2025) for distribution of Insurance Products. Axis Bank currently has a corporate agency agreement with (A) Max Life Insurance Co. Ltd, Life Insurance Corporation of India (LIC), Tata AIA Life Insurance Co. Ltd. and Bajaj Allianz Life Insurance Co. Ltd. for distribution of life insurance products; (B) Tata AIG General Insurance Co. Ltd, New India Assurance Co. Ltd, Bajaj Allianz General Insurance Co. Ltd, Royal Sundaram General Insurance Co. Ltd and ICICI Lombard General Insurance Co. Ltd for distribution of general insurance products. For distribution of health insurance products, Axis Bank has a corporate agency agreement with Aditya Birla Health Insurance Co. Ltd, HDFC ERGO General Insurance Co. Ltd and Niva Bupa Health Insurance Co. Ltd.
You can avail insurance from any of these insurers through Axis Bank as per your requirement and discretion. Please note that insurance is underwritten by the respective Insurance Companies and Axis Bank does not underwrite the risk or act as an insurer. The contract of insurance is between the Insurance Company and the insured only, and not between Axis Bank and the insured. Axis Bank is only acting as a distributor of the insurance products offered to by the insurance companies.
Axis Bank is not responsible or liable for performance of any obligations under the contract of insurance. Insurance is sold as a stand-alone product and not linked to any of the Banking products. Participation in Insurance is purely on a voluntary basis. Purchase of Insurance is not a pre-condition of availing any of the banking products/services.
The product information given on the website is indicative in nature. Nothing contained herein is to be construed as advice, recommendation, offer for a policy or any other assistance. Axis Bank does not guarantee that this website reflects latest amendments/ information at all times or at any time. For IRDAI grievances: igms.irda.gov.in. For more details on risk factors, product details, terms and conditions and exclusions please read the relevant product brochure carefully before conclusion of sale.
Address: Axis Bank Limited, Corporate Office, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400 025. Tel: 18604195555. Email: email.services@axisbank.com
Beware of Spurious Phone calls and Fictitious/Fraudulent offers: IRDA of India clarifies to public that:
- 1. IRDA of India or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premium.
- 2. IRDA of India does not announce any bonus, Public receiving such phone calls are requested to lodge a police complaint.
SECTION 41 OF THE INSURANCE ACT 1938 PROHIBITION OF REBATES
- 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 prospectus or tables of the Insurer.
- Any person making default in complying with the provisions of this section shall be liable for penalty which may extend to ten lakh rupees.