Savings Plans

The Definition of Disability

• Total Permanent Disability means when the insured is totally, continuously and permanently disabled and meets either of the two definitions below:
• 1. Unable to Work:
  Disability as a result of injury or accident and is thereby rendered totally incapable of being engaged in any work or any occupation or employment for any compensation, remuneration or profit and he/she is unlikely to ever be able to do so.
• 2. Physical Impairments:
  The life assured suffers an injury/accident due to which there is total and irrecoverable loss of:
  • The use of two limbs; or
  • The sight of both eyes; or
  • The use of one limb and the sight of one eye; or
  • Loss by severance of two or more limbs at or above wrists or ankles; or
  • The total and irrecoverable loss of sight of one eye and loss by severance of one limb at or above wrist or ankle.
  The disabilities as stated above in Part (1) and (2) must have lasted, without interruption, for at least 6 consecutive months and must, in the opinion of a medical practitioner (as defined below), be deemed permanent. The benefit will commence upon the completion of this uninterrupted period of 6 months. However, for the disabilities mentioned in (d) and (e) under Part (2), such 6 months period would not be applicable and the benefit will commence immediately.
  
  Once a claim has been accepted and the regular monthly benefit starts, the rider coverage expires.
  
  A Medical practitioner is a person who holds a valid registration from the medical council of any state of India and is thereby entitled to practice medicine within its jurisdiction; and is acting within the scope and jurisdiction of his license but excluding the Practitioner who is:
  • Insured/Policyholder himself or an agent of the Insured
  • Insurance Agent, business partner(s) or employer/employee of the Insured or
  • A member of the Insured's immediate family