IPPB customers aged 18-65 years can avail these two policies for one year by paying the required premium.
Post Office 399 Insurance Scheme
India Post Rs. 399 premium insurance plan
The Rs 399 premium plan offers you cover for one year. It promises you Rs 10 lakh in case of accidental death or permanent total disability, permanent partial disability and accidental dismemberment and paralysis. Accidental medical expenses can also be claimed in IPD up to Rs 60,000 in case of accidental medical expenses in OPD and Rs 30,000 in IPD.
If you are hospitalized, you will get Rs 1000 per day for ten days.
India Post Rs. 299 Basic Insurance Scheme
Its Rs. 299 as part of the basic insurance plan, IPPB in case of accidental death or permanent total disability, permanent partial disability and accidental dismemberment and paralysis of Rs. 10 lakhs coverage is offered. However, this policy premium is Rs. 399 does not offer benefits like education benefit, hospital daily cash, family transport benefits and funeral benefits offered under the scheme. However, Rs. 299 plan, in case of accidental medical expenses in IPD Rs. 60,000 and in case of incidental medical expenses in OPD Rs. 30,000 offers.
India Post Payments Bank (IPPB) has come up with an accident insurance plan that will surely please the customers. Annual for premium version is Rs. 399 for the basic version and Rs. 299, the plan will protect customers in case of accidental death, disability or financial loss. The group accident insurance plan offered by IBPB provides coverage for one year in case of any unforeseen event, with benefits for medical expenses, education and more.
Post Office Rs. Key Benefits of 399 Insurance Scheme
Accidental Death: It covers death due to accident within 365 days of the date of accident. The coverage limit is 100% of the sum assured.
Accidental Amputation and Paralysis: It covers amputation which is permanent in nature and occurs within 365 days of the date of accident. Paralysis is the loss of the ability to move (and sometimes feel anything) in part or most of the body as a result of an injury.
Education Benefit: Full sum assured is payable in case of accidental death / permanent total disability. Benefit payable to an eligible child who is a full-time student in any institution.