Income Guard - Income Protection Insurance
Income Guard Plan

Many people die annually in road accidents in India and of those who die are below the age of 45. Apart from the personal suffering what suffers the most is the source of income. Income Guard Plan takes care of all such uncertainties.

Key Features
  • Income Guard Plan is a Personal Accidental Plan, designed to cover Accidental Death,Accidental Dismemberment, Permanent Total Loss of Use.
  • We offer lifelong renewal provided premium is paid without any break.
  • Free Look Period –You have a period of 15 days from the date of receipt of the Policy document to review the terms and conditions of this Policy. If You have any objections to any of the terms and conditions, You have the option of cancelling the Policy stating the reasons for cancellation and You will be refunded the premium paid by You after adjusting the amounts spent on stamp duty charges and proportionate risk premium. You can cancel Your Policy only if You have not made any claims under the Policy. All Your rights under this Policy will immediately stand extinguished on the free look cancellation of the Policy. Free look provision is not applicable and available at the time of renewal of the Policy.
  • Grace Period of 30 days for renewing the Policy is provided under this Policy. However, coverage would not be available for the period for which no premium has been received.
  • Sum Insured Enhancement – Sum Insured can be enhanced only at the time of renewal . However the quantum of increase shall be as per underwriting guidelines of the company.
  • Changes will be notified to the policyholders 3 months in advance in case of revision /modification in approved product.
  • Option to migrate to similar individual personal insurance policy for dependents at the specified exit age
  • Likelihood of withdrawal of the product  will be notified to the policy holders 3 months prior to the expiry of the policy and option would be given to migrate to similar Individual Personal accident Insurance policy
What are the benefits of Income Guard Plan?
  1. Accidental Death:
    • In case of Accidental Death the insured person’s nominee will receive the Principal Sum as applicable
    • Accidental Death of an Insured person aged Seventeen or below the maximum sum payable is 10% of the Principal Sum insured
  2. Accidental Dismemberment:
    (Including Loss of Sight or Hearing)
    In case of dismemberment the insured person will receive the percentage of the Principal Sum as applicable if injury to the policyholder results in one of the losses shown in the Total Disability Table Of Losses
    If more than one loss results from any one accident, only one amount, the largest will be paid.

    Loss with regards to
    • Hand or foot means actual severance through or above the wrist or ankle joints respectively; eye means entire and irrecoverable loss of sight
    • Thumb and index finger means actual severance through or above the joint that meets the hand at the palm
    • Speech or Hearing means entire and irrecoverable loss of speech or hearing of both ears
  3. Permanent Total Loss Of Use
    We will pay a percentage of the Principal Sum , If Injury to an insured person results in any one of the losses shown in the Table of Losses below and if that loss has continued for 12 consecutive months and is total, continuous and Permanent at the end of this period :
    1. If the insured person suffers more than one of the losses mentioned as a result of the same accident, only one amount, the largest, will be paid
    2. After the occurrence of any one of losses 1 to 5 losses there shall be no further liability under the policy in respect of the Insured person for injury sustained thereafter.
  • Tuition Benefit:Pays upto the 10% of the Sum Insured or the actual tuition charged by the institution, whichever is lower towards dependent children’s education in the event of Accidental Death which has become admissible and payable by the company.
  • Home Alteration & Vehicle Modification Benefit:
    1. suffers one of the following Injuries listed under the Accidental Dismemberment and Paralysis Coverage Section of the Policy for which the loss is payable while this Policy is in effect; and,
    2. did not; prior to the date of the Accident causing such loss(es), require the use of a wheelchair to be ambulatory; and
    3. as a direct result of such loss(es) is now required to use a wheelchair to be ambulatory;
    The Company will pay Covered Home Alteration and Vehicle Modification Expenses that are incurred within one year after the date of the Accident causing such loss(es), up to the maximum amount stated in the Policy Schedule for all such losses caused by the same Accident.
  • Repatriation Benefit:In the event accidental Loss of Life is sustained by an Insured Person, within 365 days of the date of the Accident, not less than 150 kilometers from the Insured Person normal place of residence and indemnity for such Loss becomes payable in accordance with the terms of this Policy, We will pay the actual expenses incurred for preparing the deceased for burial or cremation and shipment of the body to the city of residence of the deceased but not to exceed the amount of Rs.5,000( Rupees Five thousand only).
  • Family Transportation Benefit:When, following an Injury which results in a Loss payable under the section entitled "Accidental Death and Dismemberment Indemnity" of this policy, an Insured Person is confined in a hospital, outside 150 kilometers from his residence, within 365 days of the accident and the attending physician recommends the personal attendance of a member of the immediate family, this benefit will refund the actual expenses incurred by the immediate family member of transportation by the most direct route by a licensed common carrier to the confined Insured Person but not to exceed the amount of Rs. 25000/-( Rupees twenty thousand only).
Who should buy this insurance?
Entry age between the age 18-70, policy is however renewable for life upon payment of premium provided the cover is maintained with us without a break.
How can I buy this insurance?
You can give us your details in the “Have us call you” form and we will get in touch with you shortly.
What is not covered under Income Guard Plan?
This entire Policy does not provide benefits for any loss resulting in whole or in part from, or expenses incurred, directly or indirectly in respect of:
  1. suicide, attempted suicide (whether sane or insane) or intentionally self-inflicted Injury or Illness, or sexually transmitted conditions, mental or nervous disorder, anxiety, stress or depression, Acquired Immune Deficiency Syndrome (AIDS), Human Immune deficiency Virus (HIV) infection; or
  2. serving in any branch of the Military or Armed Forces of any country, whether in peace or War, and in such an event We, upon written notification by You, shall return the pro rata premium for any such period of service during the circumstances described in a Hazard; or
  3. being under the influence of drugs, alcohol, or other intoxicants or hallucinogens unless properly prescribed by a Physician and taken as prescribed; or
  4. participation in an actual or attempted felony, riot, crime, misdemeanor, or civil commotion; or
  5. operating or learning to operate any aircraft, or performing duties as a member of the crew on any aircraft or Scheduled Airline; or
  6. War, civil War, invasion, insurrection, revolution, act of foreign enemy, hostilities (whether War be declared or not), rebellion, mutiny, use of military power or usurpation of government or military power; or
  7. any loss, damage cost or expense of whatsoever nature directly or indirectly caused by,  resulting from or in connection with any Act of Terrorism regardless of any other cause or  event contributing concurrently or in any other sequence to the loss.     The warranty also excludes loss, damage, cost or expenses of whatsoever nature directly or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing, suppressing or in any way relating to action taken in respect of any act of terrorism.     If the Company alleges that by reason of this Exclusion, any loss, damage, cost or expenses is not covered by this insurance the burden of proving the contrary shall be upon the Insured.
  8. the intentional use of military force to intercept, prevent, or mitigate any known or suspected          Act of  Terrorism ,or
  9. the radioactive, toxic, explosive or other dangerous properties of any explosive nuclear equipment or any part of that equipment; or
  10. ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from burning nuclear fuel; or
  11. congenital anomalies or any complications or conditions arising there from; or
  12. participation in winter sports, skydiving/parachuting, hang gliding, bungee jumping, scuba diving, mountain climbing (where ropes or guides are customarily used), riding or driving in races or rallies using a motorized vehicle or bicycle, caving or pot-holing, hunting or equestrian activities, skin diving or other underwater activity, rafting or canoeing involving white water rapids, yachting or boating outside coastal waters (2 miles), participation in any Professional Sports, any bodily contact sport or any other hazardous or potentially dangerous sport for which You are untrained; or
  13. any loss resulting directly or indirectly, contributed or aggravated or prolonged by childbirth or from pregnancy, or
  14. for any loss of which a contributing cause was Your actual or attempted commission of, or willful participation in, an illegal act or any violation or attempted violation of the law or Your resistance to arrest; or
  15. Any Pre- existing condition
For detailed list of exclusions please refer policy wordings.
How can I file a Claim?
  • Call us at our 24 X 7 Toll Free number 1800 266 7780/1800 22 9966 (Only for Senior Citizens)
  • Alternatively you can SMS “CLAIMS” to 5616181
    Click here to know more about our Claims Service
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