Post Office 399 Insurance Scheme, Benefits, How to APPLY, Coverage Complete Info. IPPB [Indian Postal Payment Bank] has launched the Accidental Insurance Policy by name Group Accident Insurance (Group Accident Guard). This Low Premium Accidental Insurance Policy is mostly loved by all the Citizens of India. This is one of the Cheapest Accidental Insurance Policies offered by the Indian Giant. Let's see the Benefits, Features, How to APPLY for Indian Postal Insurance 399 Policy Here.
Exploring the Advantages of Post Office Rs 399 Insurance Scheme: The Most popular Post Office 399 Insurance Scheme is nothing but an Group Accidental Insurance Plan introduced by Indian Post Office for the customers of IPPB. In an era marked by uncertainty and unforeseen events, the importance of insurance cannot be overstated. The Post Office 399 Insurance Scheme emerged as the reliable and accessible option for individuals seeking financial security and peace of mind. Managed by the Indian postal department, this Accidental insurance schemes offer a range of benefits that make them a viable choice for many. In this article, we delve into the advantages of Post Office Insurance Schemes and why they are gaining popularity among the public.
Life is full of surprises, good as well as bad ones. Accidents are not planned but accidental expenses can be planned. No one is completely safe on the roads, no matter how much care you take. While you can’t always avoid the accidents, but you can prepare your family’s future in advance from expenses or any disability occurring out of the accident.
An accident has a long-lasting impact not only on the person involved but also on his/her family members. The after effects of accident can be death, disability, financial loss, uncertain future of children whose parent/s had accident, expenses out of medical emergencies etc.
A group personal accident insurance is an insurance plan that provides accident coverage for a large number of people, collectively referred to as a group. Group Accident Insurance provides coverage in case of unforeseen events, there are several other benefits that come with group personal accident insurance. Purchasing a group accidental insurance is the best option for keeping unanticipated expenses under check.
The Post Office Insurance Scheme plays a crucial role in providing financial security to rural communities. With its extensive reach in remote areas, the scheme becomes a lifeline for individuals in these regions. It helps in fostering a culture of financial inclusion by offering insurance coverage to those who might otherwise have limited access to such services.
FAQ’s TAGIC – Group Accident Guard
Q. What is an accident?
A. Any unforeseen/unfortunate event that happens unexpectedly and unintentionally typically which results in damage and injury.
Q. What is Group Accident Guard?
A. GAG is a comprehensive cover which can secure you after any unforeseen event/accident. It is a remedy which can prepare you in advance to mitigate any sort of losses arising from an accident.
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Q. Who can be covered under Group Accident Guard?
A. All individual customers of India Post Payments bank and Department of Post
Q. What is the tenure of the policy?
A. Policy tenure is for Minimum period of One year and due for renewal every next year
Q. What is the minimum and maximum entry age for Group Accident Guard?
A. Individuals from 18 years to 65 years can take the policy cover from TATA AIG
Q. What is not covered in the product/exclusions?
A.
In conclusion, the benefits of Post Office Rs 399 Group Accidental Insurance Scheme is multifaceted, encompassing accessibility, affordability, variety, ease of application, and the trust associated with government backing. This scheme stand as a testament to the commitment of the postal department in promoting financial security and well-being for citizens across the nation. As individuals increasingly recognize the advantages of these schemes, the Post Office Insurance offerings are likely to play an even more significant role in shaping the insurance landscape in the years to come.
Need of Post Office 399 Insurance Scheme
The need of Post Office 399 Accidental Insurance Scheme [Group Accident Insurance (Group Accident Guard]
An accident has a long-lasting impact not only on the person involved but also on his/her family members. The after effects of accident can be death, disability, financial loss, uncertain future of children whose parent/s had accident, expenses out of medical emergencies etc.
A group personal accident insurance is an insurance plan that provides accident coverage for a large number of people, collectively referred to as a group. Group Accident Insurance provides coverage in case of unforeseen events, there are several other benefits that come with group personal accident insurance. Purchasing a group accidental insurance is the best option for keeping unanticipated expenses under check.
Most of the Indian people are middle class or below middle Class. They cannot afford high premium rates as their income is very less. There comes the Post Office GAG Policy in Play with Low Premium rates and High returns covering the Accidental , Disability Insurance.
The Salient features of the Group Accident Guard in the Post Office Insurance Scheme is as follows:
1. Accidental Death: It covers Death due to Accident within 365 days of the accident date. Coverage limit is 100% of Sum Insured.
2. Accidental Dismemberment and Paralysis: It covers Dismemberment which is permanent in nature & occurs within 365 days of the accident Date. Paralysis is the loss of the ability to move (and sometimes to feel anything) in part or most of the body, as a result of an Injury.
3. Education Benefit: Entire sum insured is payable in case of accidental death / permanent total disability. Benefit payable for eligible child who is full time student in any Institution.
4. Permanent Total Disability: It covers Total Disability which is permanent in nature & occurs within 365 days of the accident Date. Coverage limit is 100% of Sum Insured.
5. Accidental Medical Expenses in-patient department (IPD): It Covers hospitalization expenses due to accident for period more than 24 hours.
6. In Hospital Daily Cash: Provides per day benefit for the period of Hospitalization due to Accident.
7. Family Transportation Benefits: Expenses incurred by any immediate family member of the insured on making travel arrangements to meet the insured person who is hospitalized and situated more than 150-kilo meters from his residence.
8. Permanent Partial Disability: It covers Partial Disability which is permanent in nature & occurs within 365 days of the accident Date. Coverage limit is as per % specified in policy document.
9. Accidental Medical Expenses Outpatient Department (OPD): It covers Out Patient expenses due to accident in which the Insured Person visits a clinic/ hospital or associated facility like a consultation room for diagnosis and treatment based on the advice of a Medical Practitioner.
10. Last Rites Benefit: If we have accepted a claim under Accidental Death benefit, then we will in addition pay fixed amount towards funeral expenses
To buy the Post Office 399 Group Insurance Policy, one has to be a customer of IPPB [Indian Postal Payment Bank]. It's very easy to become a Member. Just go to the Post Office with your Aadhar and become a member.
Product Features of Post Office 399 Accidental Insurance Scheme
One of the key benefits of Post Office Insurance Schemes is their widespread accessibility. With a vast network of post offices across the country, these schemes reach even the remotest areas, making insurance services available to a diverse population. This is especially crucial in a country with a mix of urban and rural landscapes, ensuring that individuals from a
Insurance is a way to manage your risk. Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement against losses from an insurance company. When you buy insurance, you purchase protection against unexpected financial losses. The insurance company pays you or someone you choose if something bad happens to you.
| GAG Insurance Premium Option | |
| Accidental Death | 1000000 |
| Permanent Total Disability | 1000000 |
| Permanent Partial Disability | 1000000 |
| Accidental Dismemberment and Paralysis | 1000000 |
| Accidental Medical Expenses IPD | Fixed upto Rs 60,000 or actual claims whichever is lower |
| Accidental Medical Expenses OPD | Fixed upto Rs 30,000 or actual claims whichever is lower |
| Education Benefit | 10% of SI or Rs 100000 or Actual whichever is lower for maximum 2 eligible children |
| In-Hospital Daily Cash | Rs 1000 per day upto 10days (1day deducible) |
| Family Transportation Benefits | Rs 25000 or actuals whichever is lower |
| Last Rites Benefit | Rs 5000 or actuals whichever is lower |
| Post Tax Premium | 399 |
Post Office Insurance Schemes are known for their affordability, making them an attractive option for those with modest incomes. The premium rates are often competitive, and the schemes cater to a wide economic spectrum. This inclusivity ensures that individuals with varying financial capabilities can afford insurance coverage, promoting financial security for a larger section of the population.
| GAG Insurance Basic Option | |
| Accidental Death | 1000000 |
| Permanent Total Disability | 1000000 |
| Permanent Partial Disability | 1000000 |
| Accidental Dismemberment and Paralysis | 1000000 |
| Accidental Medical Expenses IPD | Fixed upto Rs 60,000 or actual claims whichever is lower |
| Accidental Medical Expenses OPD | Fixed upto Rs 30,000 or actual claims whichever is lower |
| Post Tax Premium | 299 |
Benefits of Post Office Group Accident Policy
Post Office 399 Accidental Insurance Schemes benefit from the backing of the government, instilling a sense of trust and reliability among policyholders. This government support not only enhances the credibility of the schemes but also contributes to the perception of security and stability associated with these insurance products. Many individuals find comfort in knowing that their insurance is administered by a reputable government institution.1. Accidental Death: It covers Death due to Accident within 365 days of the accident date. Coverage limit is 100% of Sum Insured.
2. Accidental Dismemberment and Paralysis: It covers Dismemberment which is permanent in nature & occurs within 365 days of the accident Date. Paralysis is the loss of the ability to move (and sometimes to feel anything) in part or most of the body, as a result of an Injury.
3. Education Benefit: Entire sum insured is payable in case of accidental death / permanent total disability. Benefit payable for eligible child who is full time student in any Institution.
4. Permanent Total Disability: It covers Total Disability which is permanent in nature & occurs within 365 days of the accident Date. Coverage limit is 100% of Sum Insured.
5. Accidental Medical Expenses in-patient department (IPD): It Covers hospitalization expenses due to accident for period more than 24 hours.
6. In Hospital Daily Cash: Provides per day benefit for the period of Hospitalization due to Accident.
7. Family Transportation Benefits: Expenses incurred by any immediate family member of the insured on making travel arrangements to meet the insured person who is hospitalized and situated more than 150-kilo meters from his residence.
8. Permanent Partial Disability: It covers Partial Disability which is permanent in nature & occurs within 365 days of the accident Date. Coverage limit is as per % specified in policy document.
9. Accidental Medical Expenses Outpatient Department (OPD): It covers Out Patient expenses due to accident in which the Insured Person visits a clinic/ hospital or associated facility like a consultation room for diagnosis and treatment based on the advice of a Medical Practitioner.
10. Last Rites Benefit: If we have accepted a claim under Accidental Death benefit, then we will in addition pay fixed amount towards funeral expenses
Eligibility for Post Office GAG Accidental Insurance Policy
Features of Group Accident Insurance:To buy the Post Office 399 Group Insurance Policy, one has to be a customer of IPPB [Indian Postal Payment Bank]. It's very easy to become a Member. Just go to the Post Office with your Aadhar and become a member.
| Entry age | 18-65 Years |
| Policy tenure | 1 year |
| Policy offered to | IPPB Customers |
Coverage of Post Office Group Accident Insurance Scheme
What Does Group Accident Insurance Not Cover?- 1. Suicide
- 2. Military services or operations
- 3. War
- 4. Illegal act
- 5. Bacterial Infections
- 6. Disease
- 7. AIDS
- 8. Dangerous sports etc.
Descriptive Poster on TATA AIG Post Office Accidental Insurance Scheme
FAQs on Post Office 399 Insurance Scheme
Here we cover all the doubts and written the clarifications related to the Post Office 399 Insurance Scheme.FAQ’s TAGIC – Group Accident Guard
Q. What is an accident?
A. Any unforeseen/unfortunate event that happens unexpectedly and unintentionally typically which results in damage and injury.
Q. What is Group Accident Guard?
A. GAG is a comprehensive cover which can secure you after any unforeseen event/accident. It is a remedy which can prepare you in advance to mitigate any sort of losses arising from an accident.
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Q. Who can be covered under Group Accident Guard?
A. All individual customers of India Post Payments bank and Department of Post
Q. What is the tenure of the policy?
A. Policy tenure is for Minimum period of One year and due for renewal every next year
Q. What is the minimum and maximum entry age for Group Accident Guard?
A. Individuals from 18 years to 65 years can take the policy cover from TATA AIG
Q. What is not covered in the product/exclusions?
A.
• Customers suffering from any pre-existing diseases and ailments
• Customer attempted suicide (whether sane or insane) or intentionally self-inflicted Injury or illness
• Any Customer Being under the influence of drugs, alcohol, or other intoxicants or hallucinogens unless properly prescribed by a Physician and taken as prescribed
• Any Insured Person’s participation in Professional Sports or Adventure sports
• Any Insured Person is involved in War or any act of war, or any radioactive or nuclear energy industry
• Any Insured involved in any act or terrorism
• Any Insured person involved in breach of law with criminal intent
• Any Insured involved in any loss of which a contributing cause was Insured Person’s actual or willful participation
• For more details please refer detailed policy wordings
Q. How to Intimate claims/Claim procedure?
A. • Insured Person(s) can notify a Claim by sending an SMS CLAIMS to 5616181 or by calling The Company’s 24x7 toll free helpline 1800-266-7780 or 1800 229966 (only for senior citizen Policy holders).
• Customer attempted suicide (whether sane or insane) or intentionally self-inflicted Injury or illness
• Any Customer Being under the influence of drugs, alcohol, or other intoxicants or hallucinogens unless properly prescribed by a Physician and taken as prescribed
• Any Insured Person’s participation in Professional Sports or Adventure sports
• Any Insured Person is involved in War or any act of war, or any radioactive or nuclear energy industry
• Any Insured involved in any act or terrorism
• Any Insured person involved in breach of law with criminal intent
• Any Insured involved in any loss of which a contributing cause was Insured Person’s actual or willful participation
• For more details please refer detailed policy wordings
Q. How to Intimate claims/Claim procedure?
A. • Insured Person(s) can notify a Claim by sending an SMS CLAIMS to 5616181 or by calling The Company’s 24x7 toll free helpline 1800-266-7780 or 1800 229966 (only for senior citizen Policy holders).
Please use the Claim Intimation Form for intimation of a Claim. Insured Person(s) can even write to The Company at general.claims@tataaig.com and scanned documents may be submitted at paclaim.support@tataaig.com to initiate Claim processing.
Details required at the time of claim registration –
• Policy Schedule/Certificate of Insurance
• Name of Injured person
• Date & Time of Loss, Location of accident
• Nature of Injury / Accident
• Policy Coverage under which Claim is preferred
• Name of Hospital / doctor where treatment taken
• Name / Location of police station, if case is reported with police
• E-mail ID & mobile/ telephone no. of Insured Person / Contact Person
Q. Grievance Redressal of the Policy.
A. In case of any grievance the Insured Person may contact through Website: www. tataaig.com or Call us 24X 7 toll free helpline 1800 266 7780 or 1800 22 9966 (Senior Citizen) Email us at customersupport@tataaig.com or Write to us at: Customer Support, Tata AIG General Insurance Company Limited - A-501 Building No. 4 IT Infinity Park, Dindoshi, Malad (E), Mumbai - 400097 or can Visit the nearest servicing branch
Details required at the time of claim registration –
• Policy Schedule/Certificate of Insurance
• Name of Injured person
• Date & Time of Loss, Location of accident
• Nature of Injury / Accident
• Policy Coverage under which Claim is preferred
• Name of Hospital / doctor where treatment taken
• Name / Location of police station, if case is reported with police
• E-mail ID & mobile/ telephone no. of Insured Person / Contact Person
Q. Grievance Redressal of the Policy.
A. In case of any grievance the Insured Person may contact through Website: www. tataaig.com or Call us 24X 7 toll free helpline 1800 266 7780 or 1800 22 9966 (Senior Citizen) Email us at customersupport@tataaig.com or Write to us at: Customer Support, Tata AIG General Insurance Company Limited - A-501 Building No. 4 IT Infinity Park, Dindoshi, Malad (E), Mumbai - 400097 or can Visit the nearest servicing branch
How to APPLY for Post Office 399 Accidental Insurance Scheme
Unfortunately, there is no Online Application for the Post Office Group Accidental Insurance Plan.
The Persons, who want to buy this Insurance Plan, contact your nearest post office or IPPB Centers with relevant documents like Aadhar Card and other identity proofs.
In conclusion, the benefits of Post Office Rs 399 Group Accidental Insurance Scheme is multifaceted, encompassing accessibility, affordability, variety, ease of application, and the trust associated with government backing. This scheme stand as a testament to the commitment of the postal department in promoting financial security and well-being for citizens across the nation. As individuals increasingly recognize the advantages of these schemes, the Post Office Insurance offerings are likely to play an even more significant role in shaping the insurance landscape in the years to come.
