Accidental Death Benefit - A Complete Guide

Accidental death insurance is a type of insurance coverage that offers financial assistance to the insured and their family in the unfortunate event of accidental death. In many cases, this benefit also extends to cover accidental injuries or permanent disability, depending on the policy's terms.

This type of insurance coverage typically comes as a supplementary coverage or rider to the health insurance or life insurance plans. TATA AIG offers health insurance with accidental death benefits in a base plan.

It is also available as an add-on with TATA AIG health insurance plans with marginally increased premium. With accidental death benefit coverage, policyholders receive an additional layer of protection beyond the standard benefits of the base policy.

Accidental insurance coverage, often included in a health insurance plan, offers a wide variety of benefits to the policyholder and their loved ones. These benefits include:

Lump Sum Payout

One of the crucial benefits of the accidental death insurance policy or rider (add-on coverage for a marginal increase in premium) is the lump sum payout during the unfortunate accident that led to the death of the policyholder.

The coverage will enable families to manage the sudden loss of income or ongoing financial obligations, such as loans and bills.

Peace of Mind and Security

Another reason to buy an accidental death insurance rider is it offers peace of mind and security to the policyholder.

Having a comprehensive health insurance plan with accidental death benefits will offer physiological and emotional relief to the insured if something unfortunate like accidents happens to them.

No Waiting Period

Another reason to consider buying the accidental death benefit is that it comes with no waiting period. The coverage begins from day one of the policy, ensuring your loved ones are protected right from the start even if an accident happens immediately after the policy is issued.

Let us understand the death accidents insurance benefit of a health insurance plan in detail. Arjun, a software engineer, purchased a health insurance plan with an accidental death benefit rider. The sum insured under the health insurance plan was ₹30 lakh.

One day, while going to work, Arjun met with a severe road accident and, unfortunately, passed away due to injuries sustained. Arjun’s beneficiary received the lump sum amount of ₹30 lakh as an accidental death benefit.

With the received lump sum amount, the family could cover expenses such as daily living costs, loan repayments, or any other needs.

TATA AIG offers various health insurance plans that cover the accidental death benefit:

Accidental death benefits or coverage can be a part of a health insurance plan or available as a rider with a base policy. Here is how the plan works.

Step 1: Purchase a Plan or Rider

Go to TATA AIG website and purchase a TATA AIG health insurance plan with an accidental death benefit as coverage, or you need to incorporate it as a rider in the plan.

Step 2: Instant Coverage for Accidents

TATA AIG does not have a waiting period for unfortunate incidents, such as accidents. Your coverage starts immediately from day one. This ensures you are protected right from the start in case of any unforeseen accidents.

Step 3: Accident Event Occur

If, during the policy period, accidental events occur that result in the death of the policyholder, the nominee or beneficiary can file a claim under policy. However, an accident must be sudden, unforeseen and external in nature.

Step 4: Filing A Claim

In the event of a policyholder's death, the nominee must complete the claim form and submit the necessary documents, such as a death certificate and medical certificate, to the insurance provider.

Step 5: Payout by TATA AIG

After verifying details of incidents and documents, the TATA AIG representative will approve the claim request. The company will pay out the lump sum amount to the policyholder's nominee as per the policy documents.

TATA AIG health insurance with accidental death benefits does not cover the following:

• The plan will not cover any self-inflicted injuries while sane or insane that lead to death or injury.

• Any act of war, invasion, or act by a foreign enemy is not covered under the plan.

• Accidents which occur under the influence of alcohol or intoxicating substances, etc, are not covered under the health insurance plan.

• Death due to congenital conditions or pre-existing illnesses does not qualify for accidental death benefit.

• Death resulting from engaging in high-risk activities such as professional sports, skydiving, etc, are not covered under accidental death benefit.

Please Note: The eligibility criteria can vary and can be specific to certain policy conditions. Please refer to the policy document for complete details.

Step 1: Navigate to Health Insurance Section

Visit the TATA AIG’s official website and go to the “Personal Insurance" section.

Step 2: Decide the Best Health Insurance Plan

Next, you need to decide the best health insurance plan with an accidental death benefit. Select the plan that fits your requirements and budget.

Step 3: Provide the Required Details

After choosing the health insurance plan with an accidental health benefit, you need to select the “self” or “individuals” for whom you are buying the plan.

Click on the “Get Plan” option. Enter all the asked details, such as date of birth, email address, etc.

Step 4: Compare Health Insurance Plans

After adding all the details, various TATA AIG health insurance plans will appear, each with different add-ons and inclusions. Compare different health insurance options with accidental death benefits.

Step 5: Select and Pay for Health Insurance

Before finalising the plan, go through the policy terms to clearly understand the coverage, exclusions, and claim process.

Pay the health insurance premium. After a successful payment, the policy document will be sent to you via email.

Filing an accidental death benefit claim under a TATA AIG health insurance plan involves a few structured steps. Here is a simple and complete guide:

Step 1: Notify TATA AIG Representative

The nominee or beneficiary should inform TATA AIG about the incident within a reasonable time after the accident or the policyholder’s death.

Step 2: Gather Required Documents

The next step is to gather all the required documents, such as health insurance policy documents, claim forms, death certificates and FIR or police reports.

Gathering all these documents may take time; ensure you have all the documents before filing a claim request.

Step 3: Submit the Claim Request

Once you have the documents, carry out the claim filing process by visiting TATA AIG's claims portal. Submit all the requested documents in the portal in the requested size.

Step 4: Claim Review in Progress

After receiving all the documents from the person, the TATA AIG representative will thoroughly review the documents.

Based on that, they will either approve or reject the claim request. You will get a confirmation message or mail once the claim is approved.

Step 5: Claim Settlement Amount

Within a few days of approval, the claim settlement amount will be paid to the nominee or beneficiary as per the policy terms and conditions.

Here is the list of documents required for the accidental death benefits with TATA AIG health insurance plans.

• Duly signed and filled out claim form

• Copy of death certificate, if applicable

• Original policy documents

• FIR report (if required)

• Medical reports

• Photo ID proof of the nominee

• Address proof of the nominee

• Legal heir/succession certificate

• Any other documents asked by the representatives

When buying the best health insurance plan with accidental death benefits, assess key factors to choose a plan that fits your needs.

Policy Coverage

Knowing the policy coverage helps you understand how much financial support your nominee will receive in case of accidental death. It ensures the benefit is enough to meet your family's needs. At TATA AIG, we offer 100% of the sum insured to the family or nominee as per the policy terms and conditions.

Inclusions and Exclusion

By understanding what is covered under the plan and its policy limitations, you can ensure maximum coverage in the event of an accident. It helps you avoid surprises during claim time and reduces the chances of rejection.

Claim Process

Understanding the claim process is important when choosing a health insurance plan with an accidental death benefit. In the event of an accident, it can be difficult for a nominee or family member to carry out the complicated claim process.

That is why it is crucial to go with a provider that has a quick and easy process. At TATA AIG, we offer an efficient and simplified claim process to all our customers.

Premium Costs

The premium cost is another essential factor when choosing a plan. There are various factors that determine the premium of health insurance plans, such as age and type of occupation, in the case of health insurance with accidental death benefit coverage.

Additionally, bonuses and discounts also impact the premium rate. AT TATA AIG, we offer a health insurance premium calculator so as to know about the premium in advance.

Having health insurance online with an accidental death benefit offers an additional layer of protection to you and your family. A health insurance plan with accidental death benefit will provide safety coverage for accidental death beyond your basic health insurance coverage.

TATA AIG offers health insurance plans that include accidental death benefits, either as a built-in feature or an optional rider. Plans like Medicare, Medicare Premier and Medicare Lite are designed to meet varied healthcare needs while also providing this added layer of financial protection with accidental death benefit.

Furthermore, if your focus is on providing comprehensive care for ageing parents, our health insurance for senior citizens is a plan designed for individuals aged 61 and above. From post-operative care to compassionate care and beyond, this plan offers multiple benefits. Explore health insurance plans now by visiting the website.