SBI Shagun Coverage - Private Accident Coverage
August 26, 2020
SBI Shagun is a brand new and distinctive private accident coverage by SBI Normal Insurance coverage. This coverage is often known as “Shagun – Present an Insurance coverage”. This coverage might be gifted to household or non-family members.
SBI Shagun gives monetary safety to the insured towards sudden unintended dying or complete disabilities because of an accident. This coverage additionally gives hospital confinement allowance in case of hospitalization because of accident harm. The premium of this plan may be very low from Rs.501 to 2001. This implies it’s a superb gifting choice as a substitute of giving an envelope of cash you possibly can present this coverage. Listed here are the important thing options and advantages of the SBI Shagun Coverage.
SBI Shagun – Key Options
Shagun is a Private accident coverage that gives full monetary safety to the insured individual towards uncertainties reminiscent of unintended dying and partial/complete disabilities, everlasting in addition to short-term disabilities ensuing from an accident.
- This coverage might be bought as a present. The present may very well be for household, buddies, prolonged household, and home helpers reminiscent of cook dinner, driver, caretaker and many others.
- The Present receiver must be within the age group of 18 to 65 years.
- The coverage interval could be as much as 1 12 months.
- The nominee must be an instantaneous member of the family. The gift-giver can’t be the nominee beneath this coverage.
- The present receiver can cancel the coverage. The refund will likely be given based mostly on time interval of danger protection. The refund quantity will go to the present giver. The refund is topic to no declare.
| Coverage Interval on Threat | % of Annual Premium Refundable |
| Not Exceeding 1 Month | 75% |
| Exceeding 1 month however not exceeding 3 months | 50% |
| Exceeding 3 month however not exceeding 6 months | 25% |
| Exceeding 6 months | NIL |
- An accident ensuing from Suicide tried suicide or psychological dysfunction is excluded from the coverage protection.
SBI Shagun Coverage – Protection
#1 Unintended Loss of life (AD) – The nominee will obtain a sum assured quantity in case of the unintended dying of the insured individual.
#2 Everlasting Whole Disablement (PTD) – In case of everlasting disablement of physique half sum assured proportion will likely be paid. Moreover, beneath may also be paid –
- Training Profit – 1% of the Sum Insured or Rs. 50,000, whichever is decrease is paid in the direction of training good thing about as much as a most of two youngsters
- Adaption Allowance – 1% of the Sum Insured or Rs. 25,000, whichever is decrease is paid in the direction of the price of modifying home or car
#3 Ambulance Cowl – Ambulance protection quantity as much as 10% of the Sum Insured topic to a most of Rs. 100,000 will likely be paid in the direction of bills incurred for availing an Ambulance Service (Together with air ambulance) to switch the Insured Individual to a Hospital from the situation of Accident or Harm or from one Hospital to different Hospital or from hospital to put of residence in case of Unintended Loss of life or Everlasting Whole Disablement.
#4 Hospital Confinement Allowance (HCA) – Each day Profit for every Day insured stays in a Hospital because of Harm or Accident topic to most protection for 15 days for the complete coverage interval will likely be paid.
Premium Quantity
| Premium Quantity | Protection – Metro | Protection – Non-Metro |
| Rs.501 | AD + PTD +PPD – Rs. 480,000 HCA – Rs. 1,000 per day as much as 15 days, Ambulance – Lined | AD + PTD +PPD – Rs. 500,000 HCA – Rs. 2,000 per day as much as 15 days, Ambulance – Lined |
| Rs.1001 | AD + PTD +PPD – Rs. 995,000 HCA – Rs. 3,000 per day as much as 15 days, Ambulance – Lined | AD + PTD +PPD – Rs. 1,075,000 HCA – Rs. 2000 per day as much as 15 days, Ambulance – Lined |
| Rs.2001 | AD + PTD +PPD – Rs. 2,080,000 HCA – Rs. 2,000 per day as much as 15 days, Ambulance – Lined | AD + PTD +PPD – Rs. 2,235,000 HCA – Rs. 1,000 per day as much as 15 days, Ambulance – Lined |
Methods to buy SBI Shagun Coverage On-line?
The steps to buy SBI Shagun Coverage On-line are given beneath.
- Go to SBI Normal web site and go to Shagun Coverage Web page.
- Click on on Purchase Coverage Button. You can be taken to a brand new web page asking for numerous particulars. In step one, it’s worthwhile to give Present Giver particulars.
- The subsequent step is to offer Present particulars and Present receiver particulars.
- After that, it’s worthwhile to choose plan particulars and supply nominee data.
- As soon as you’re accomplished it’s worthwhile to make a web based fee for getting this coverage.
Do you have to present this coverage to somebody?
key options and profit it appears to be an excellent present choice. You might be gifting monetary assist to somebody. Will probably be certainly useful in case of an accident. The great half is the coverage additionally covers minor accidents and disablement.
No fee is payable because the coverage is bought immediately with out an agent and the premium quantity can be low. Nevertheless, you’ll not get any tax advantages for paying a premium of this coverage.
Do you assume it is sensible to present SBI Shagun to your beloved as soon as?
Do share your views within the remark part given beneath.
