Saral Suraksha Bima

What is Saral Suraksha Bima? 

Saral Suraksha Bima is a standardised personal accident insurance policy provided by Bajaj Allianz General Insurance Company. This plan offers financial protection against unforeseen accidents, covering accidental death, permanent total disablement, and permanent partial disablement. It is designed to provide straightforward and comprehensive coverage, ensuring that policyholders and their families are protected from the financial repercussions of accidental injuries.

The policy offers a minimum sum insured of INR 25,000, with options to increase coverage in multiples of INR 5,000, up to a maximum of INR 1 crore. This flexibility allows individuals to choose coverage that aligns with their financial needs. The policy period is one year, with the option for annual renewal, ensuring continuous protection.

In addition to the base covers, Saral Suraksha Bima provides optional benefits such as temporary total disablement, hospitalisation expenses due to accidents, and an education grant for dependent children. These optional covers enhance the policy's comprehensiveness, offering additional financial support in the event of an accident.

By offering a transparent and uniform insurance product, Saral Suraksha Bima ensures that policyholders receive reliable coverage against accidental injuries, providing peace of mind to individuals and their families.

Why Should You Buy Saral Suraksha Bima? 

Standard personal accident policy offers compensation to the insured or his/her legal heir/nominee in case of permanent or partial disablement and death due to accident.

This medical insurance policy provides coverage for temporary disablement and hospitalization due to accident.

The Saral Suraksha Personal Accident Insurance helps the insured person to earn a cumulative bonus with every claim-free year. IRDAI mandates it for all the insurers to offer Saral Suraksha Bima plan to their clients.

Key Features of Saral Suraksha Bima 

Base Coverage Available Under the Policy 

Death: The insured person's family gets 100% of the compensation amount in case of accidental death due to an injury.

Permanent total disablement: The company shall pay the benefit equal to 100% of Sum Insured, specified in the policy schedule, if an insured Person suffers Permanent Total Disablement due to accident

Permanent partial disablement: The insured person who has suffered from any partial disability due to an accident is liable to file a claim to get a sum insured amount for treatment purposes.

Policy Type 

Saral Suraksha Bima is available on Individual Basis.The Sum Insured shall apply seperately to each family member .

Annual Policy 

With Saral Suraksha Bima, you and your family members will be covered for 1 year.

Premium Payment in Instalment 

The policy can be paid on an instalment basis-Annual, Half Yearly, Quarterly or Monthly. The premium charges might vary depending on the terms and conditions of every plan. Unlike other policy plans, the Saral Suraksha Bima policy premium rates are low and affordable.

Full Family Cover 

This policy covers Self, legally wedded Spouse, Dependent Children, Parents, and Parents-in-law.

Cumulative Bonus 

For every claim-free year, the increase in cumulative bonus with respect to the total sum insured is 5%. However, a precondition that applies is that the policy is renewed without any breaks to a maximum of 50% of the sum insured. If the claim is made in any of the particular years, then the CB is reduced at the same proportion it has been improved.

Sum Insured 

Sum Insured is the maximum liability of the insurance company towards the coverage opted by the insured person under this policy. Minimum sum insured is Rs.2.5 lakhs and maximum sum insured is Rs.1 Crore under this policy.

Benefits of Saral Suraksha Bima 

Temporary total disablement (Optional Cover) 

Under Total temporary disablement, the insured is liable to receive 0.2% of the sum insured every week for up to a maximum of 100 weeks. This is done under the condition that the insured is injured to the extent that the accident has rendered the person unable to work.

Hospitalisation Expenses due to Accident (Optional Cover) 

Hospitalization expenses arising due to the accident shall be indemnified up to the limit of 10% of the base sum insured.

Education grant (Optional Cover) 

The insured’s family can claim a one-time 10% education grant for every child dependent on the insured in case of the insured’s death or permanent disability. The insurance can be claimed only for the following conditions:

The dependent child or children are pursuing any educational course as a full-time student in any certified educational institute.

The children’s age pursuing education shall not be more than 25 completed years to claim for insurance compensation.

Important Note:

The benefits of the policy are payable under each of the optional covers and are independent, over and above the base sum that is insured.