ManipalCigna Health Insurance on October 9, 2023 launched a new personal accident insurance plan named ManipalCigna Accident Shield. The plan provides comprehensive coverage for accidental death (AD), permanent total disablement (PTD), permanent partial disablement (PPD), and accidental hospitalisation depending on the specific plan one chooses.
The plan is designed to cover even temporary total disablement and optional covers, including accidental hospitalisation, medical repatriation, among others.
ManipalCigna Accident Shield comes in three variants: Classic Plan, Plus Plan, and Pro Plan. The Classic Plan is a basic plan that covers accidental death, funeral expenses, and repatriation of mortal remains.
The Plus Plan is an enhanced version of the Classic Plan with additional coverage for permanent total disability and 10 optional covers. The Pro Plan provides the most comprehensive coverage, including permanent partial disablement and 12 optional covers.
One can choose the sum insured coverage between Rs. 5 lakh and Rs. 25 crore.
The premium for the plan varies depending on the sum insured, the variant chosen, and the optional covers selected. For instance, the annual premium for a non-smoking 30-year-old male with a sum insured of Rs. 25 lakh in the Classic Plan is Rs. 908 (inclusive of taxes).
As accidents may not always result only in permanent disablement, so this plan also provides cover for temporary total disablements (TTD), the insurer said in a press release.
Says Prasun Sikdar, managing director and CEO, ManipalCigna Health Insurance: “Considering the increasing incidences of accidents and the costs for cure, ManipalCigna Accident Shield plan allows policyholders to choose from a range of sum insured options, spanning up to Rs. 25 crore, tailored for the policyholders’ specific coverage requirement. The plan provides coverage for accidental hospitalisation, including outpatient department (OPD) expenses, thus ensuring that even minor injuries are covered.”
The insured will get paid 100 per cent sum insured in case of an accidental death or permanent total disability, and 200 per cent sum insured, if these occur while travelling as a fare-paying passenger on a common carrier.
The plan also provides several optional covers to choose from.
Adventure Sports Cover: This optional cover only comes with the ‘pro plan’ and provides coverage for accidental death and permanent total disablement sustained while engaging in listed adventure sports, such as mountain biking, rock climbing, and scuba diving. Insured can get paid 50 per cent of the sum insured, up to a maximum of Rs. 50 Lakh with this cover.
Temporary Total Disablement (TTD): This optional cover provides weekly payments for a maximum of 100 weeks if one is unable to work due to an injury caused by an accident. The minimum absence from work and the inability to perform duties must be for seven consecutive days.
Medical Repatriation: This optional cover provides coverage for the cost of transporting one back to India in the event of a medical emergency that occurs abroad.
“For a medical emergency, such as an accident, one can get paid up to 25 per cent of the sum insured, subject to a maximum of Rs. 25 Lakh, applicable across the globe, available on a reimbursement basis,” the release said.
Other Optional Covers: The plan also provides other optional covers, such as child welfare cover, burns benefit, broken bones benefit, and coma benefit.