New India Pension Protect Personal Accident Policy

PRODUCT HIGHLIGHTS
Who are covered?
  1. Retirees who are recipients of pension/annuity (under NPS).
  2. Minimum Entry Age – 35 years.
  3. Maximum entry age – 70 years

    Note:On completion of 65 years of age the acceptance of new proposals would be subject to submission of satisfactory physical fitness certificate from family doctor/medical practitioner and premium loading @ 2% every year.

What are the Coverages?
  1. Accidental Death – Full sum insured.
  2. Carriage of dead body – 1% of sum insured up to a maximum of Rs 2500.
  3. Funeral expenses – Rs 2500.
What shall be the sum insured?
  1. Maximum sum insured allowable is 72 times of Monthly Pension Lost (as per the Pension Scheme of the respective employer / Annuity Plan purchased by the Employer / Annuity Plan purchased by the retiree) in the event of Death of the Pensioner.
  2. Pension Lost implies the difference between the derived pension as on the date of commencement of the policy period and the family pension available to such dependent family members as would become recipients of the family pension as recorded in the Pension Scheme / Annuity Plan after the death of the pensioner.
  3. Minimum Sum insured – Rs 1 lakh.
  4. Maximum sum insured – Rs 5 Cr.

Note:Policy details given are indicative, not exhaustive. Please contact your nearest NIA office for further details.

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