Respected sir:
In my case also they agreed to not to take Extra premium, but denied from
those two benefits sir. And my LIC agent told me that, they will consider
accidental death as normal death, as I'm hundred percent visually challenged
person.
With warm regards
VIJAY
----- Original Message -----
From: "Pranay Gadodia" <go4pran...@yahoo.co.in>
To: <accessindia@accessindia.org.in>
Sent: Thursday, February 10, 2011 1:10 PM
Subject: [AI] LIC Life insurance with accident benefits
Hi all,
Calling attention of people with visual disability & any other disability
having life insurance cover. I need your inputs.
Life Insurance corporation of India (LIC), offer insurance products with
accident benefit, where in additional amount of the sum assured is given
if an accident results in to death or a disability.
So, if an insured person meets with an accident and dies, his/her
beneficiary is paid double the insured amount.
And when an accident results in a permanent total disability (as defined
by LIC), they still pay double. First an amount equal to the sum assured
is paid over a period of 10 years in monthly installments. Also the
insured person is not required to pay further premium for the policy. And
if the person dies before ten years, LIC pays the rest unpaidamount of 10
years apart from the sum assured.
All 'with profit policies' of LIC such as Jeevan Anand (plan 149), Whole
life policy with profits (plan 5) come bundled with these features. but
still LIC might not give this benefit in cases where they feel the risk is
higher. In Jeevan Anand & probably in other relevant policies also, read
the Point 10 on Accident benefit in the 'Conditions & Privileges within
referred to'. And don't be sure just because it is printed on your policy
document, verify it from LIC office from their computers giving your
policy number. LIC calls them as Double Accident Benefit (DAB), Permanent
Disability Benefit (PDB), & Extended Permanent disability benefit (EPDB).
After a long wait and some efforts, LIC has agreed to give me my desired
plans at no extra premium, but still have denied 2 benefits - Permanent
disability benefit & Extended Permanent disability benefit. My advocacy
for an equal treatment is still on with them. Once I am through, I will
share the experience in detail.
I want to know from those of us or outside the group who have a life
insurance, whether have been given these benefits. There are very high
chances that many have been denied this and perhaps some do not know
because the agent didn't tell you.
You may reply back on the group, or you can reply me privately too on
prana...@yahoo.co.in.
thanks and regards,
Pranay Gadodia.
New Delhi.
Get numbers right this time, help the census with correct disability info!
Get numbers right this time, help the census with correct disability info!
