FAQs

What is accidental cover in a term insurance plan?

Accidental death cover provides you financial help if you meet with any unfortunate accident during the policy term. Death caused by any kind of accident is usually covered by term insurance. For instance, if the person gets involved in some kind of road accident that leads to an abrupt death then the insurance

company will give full financial compensation to the nominee of the policyholder. However, there are some restrictions to the plans as well.

For example, if the person in question died of causes other than natural death like while driving they were under the influence of alcohol or if it was a hit and run chase then the person’s claim to the plan will be revoked.

What are the different types of accidental cover in a term insurance plan?

There are mainly two different kinds of personal accidental insurance coverage plans which are given under as follows:

1. Accidental Death Benefit: On death due to accident, in addition to the amount payable on death, an additional Accidental Death Benefit Sum Assured will also be paid to the nominee or beneficiaries.

2. Accidental Total & Permanent Disability Benefit: On occurrence of Accidental Total and Permanent Disability, all the future premiums payable will be waived off for the respective life on whom this cover has been opted. The policy will continue with the other coverage options that have been opted for.

iSelect Star Term Plan by the Canara HSBC Oriental Bank Of Commerce is one of the best term life insurance plans that offer riders to enhance your term insurance plan as per your financial goals.