Get your Accident Shield Insurance in 3 simple steps!
Exclusively for SBI Credit Cardholders. Others click here to apply for a SBI Card.
Get covered for
upto Rs20 Lakhs
Premium starting at
less than Rs5 per day
Key Benefits of Accident Shield
Accident Shield offers Personal Accident Insurance cover to support you and your family during some unforeseen events such as death and permanent total disablement. As a card holder, you can avail this cover for yourself and spouse, falling in the age bracket of 18 years to 70 years.
- No-claim bonus : Get no-claim bonus of 5% increase in SI for every claim free year subject to a maximum of 25%
- Recovery benefit : Fixed amount of monthly benefit of up to Rs20,000 is payable as compensation for every month up to12 months for Permanent Total Disablement arising out of accident
- Pay the premium in installments
- No medical examination needed before application
- This coverage is designed by Royal Sundaram General Insurance Co. Limited for SBI cardholders
Premium charges
- Sum Insured : Rs20 lakhs
- Premium (per member) : Rs1773*
Inclusive of 18% Goods and Services Tax
At inception, you may review the terms and if you find the same not acceptable, opt out of the policy within 15 days from the date of receipt of policy documents. If you have not made any claim, you will be refunded the premium amount paid less proportionate premium for the period you were under cover and stamp duty charges.
- Events : Sum insured (Rs20 lakhs)
- Accidental death : 100% of Sum insured
- Permanent Total Disability (Loss of two eyes/limbs) : 100% of Sum Insured
- Loss of one eye or one limb : 50% of Sum insured
- Monthly Recovery Benefit : Rs10,000/Rs15,000/Rs20,000 (as per chosen plan)
Accident Shield Insurance Premium Rates (Inclusive of 18% Goods and Services Tax) | ||||
---|---|---|---|---|
Plan Name | Sum Insured | Recovery Benefit | Self | Self+Spouse |
Plan 1 | 10,00,000 | 10,000 | 1,015 | 2,033 |
Plan 2 | 15,00,000 | 15,000 | 1,391 | 2,782 |
Plan 3 | 20,00,000 | 20,000 | 1,820 | 3,635 |
Questions about Accident Shield? Get your answers here!
What is the Accident Shield Insurance plan and what are its benefits?
If during the Period of Insurance, an Insured Person sustains Bodily Injury which, within 52 weeks, is the sole cause of Death or Disablement, then the Benefits as stated in the policy for each of the above sections will be payable to the insured or his / her legal heir.
Who can enroll for this plan?
Any person who holds a SBI credit card is eligible to enroll for this plan
Is Proposer Mandatory under this plan?
Yes.
What is the minimum and maximum age for Proposer?
Proposer should be aged between 18 years and 70 years
Is there any Discount applicable under this plan ?
No
Is nominee compulsory under this plan?
Yes, Nominee is compulsory for insured members under this plan
List out the benefits (in detail) in this policy offered to SBI Cards customers.
- Covers Accidental death for Rs10 / Rs15 / Rs20 Lakhs.
- Covers Permanent Total Disablement up to 50% - 100% of the Sum Insured as applicable.
What is Permanent Total Disablement?
- Loss of 2 limbs (Hand/foot) - 100% of SI is payable
- Loss of 2 eyes - 100% of SI is payable
- Loss of 1 eye and 1 limb - 100% of SI is payable
- Loss of 1 limb - 50% of SI is payable
- Loss of 1 eye - 50% of SI is payable
What are some of the major exclusions under this policy?
- Intentional self injury, suicide or attempted suicide
- Death/ injury under the influence of the intoxication of liquor or drugs
- Death/ injury/ disablement due to engaging in aviation or ballooning, whilst mounting into or dismounting from or traveling in any balloon
- Directly or indirectly caused by venereal diseases, AIDS or insanity
- Arising or resulting from the Insured committing any breach of law with criminal intent.
- Any claim arising out of pregnancy
- Death/ injury/ disablement as a direct consequence of war & allied perils and nuclear perils
- Nuclear, Chemical & Biological terrorism
- Pre existing diseases, conditions
NOTE: For detailed list of exclusions please refer Policy Terms and Conditions
Are there any tax benefits for taking this plan?
No
What if a customer needs to cancel the Accident Shield Cover?
Customer can cancel the coverage within the free look period which is 15 days from the date of receipt of policy for fresh enrolments. For renewals, the insurance company's cancellation grid would apply.
In case one cancels his/her coverage post free look and before the end of the full policy term, RS will refund part of the premium paid as per applicable short period rates.
Will the customer premium be refunded if he cancels his policy halfway through the year?
Yes, as per short period rates given in the policy
If the customer cancels his card within the first policy year, can he still continue the policy by payment through cheque?
Customer can opt for auto renewal at the time of enrolment. If customer chooses to cancel auto renewal going forward, he can place this request with RS and start paying premium to the Insurer directly at the time of renewal.
What is the grace period for renewal?
This plan has got 30 days grace period from the date of expiry of cover
Can the customer renew the plan after 70 yrs?
Yes. Renewal will be available for lifelong.
Is there any website available where customer can get a copy of the claim form which he would need to submit when making a claim?
Yes. From Royal Sundaram Website customer can download the claim form. www.royalsundaram.in
What is the claim procedure ?
All claims must be notified to Royal Sundaram directly within 30 days from date of accident and the duly filled claim form along with al necessary documents as required by Royal Sundaram with in 60 days from the date of loss
Settlement of Claim:
Any Settlement of admissible claims will be made to
- Nominee appointed by the insured person / his / her legal heir, in case of death
- Insured person, in case of disability and related claims.
No sum payable under this Policy shall carry interest unless directed by a competent Court of Law in India
Is there any claim based loading on premium at the time of renewal?
No
Is any medical checkup required for enrolment?
No medical checkup required for this policy.
Are bomb blasts covered under the PA policy?
Bomb blasts and all types of terrorist attacks are covered the PA policy, subject to the following condition - The weapons being used should not be nuclear, chemical or biological in nature.