Indian Overseas Bank

FAQs on IOB Suraksha

Q. - What is IOB Suraksha policy in Indian Overseas Bank?

Ans - IOB Suraksha is an accidental insurance plan which provides Personal Accidental Insurance coverage of Rs. 5 lacs/ Rs. 10 lacs /Rs. 20 lacs under Plan A/ B/ C respectively in case of accidental death of subscriber.

Q. - What is the premium for Plan A / Plan B / Plan C?

Ans. -

Q. - What is the age criteria for availing IOB Suraksha?

Ans - Entry age is 18-70 Years; renewal can be done lifelong.

Q. - Whether only death is covered due to accident or any other coverage is also there with this policy?

Ans. - Plan A & Plan B -Only accidental death is covered, however Plan C offers additional coverage such as Permanent Total Disabilities; funeral expenses; ambulance including air ambulance charges; lifestyle modification charges and children education expenses etc.

Q. - What are the claims admissible over and above Rs. 20 lacs in case of accident?

Ans. - The following claims are admissible under Plan C over and above Rs. 20 lacs in case of accident:

Q. - Whether only death is covered due to accident or any other coverage is also there with this policy?

Ans. - The policy offers sum insured of Rs. 20 Lacs in case of accidental death as well as following coverage is also available with the policy:

Q. - Whether hospitalization due to accident is also covered under this policy?

Ans. - No, hospital expenses caused due to accidents are not covered under this policy.

Q. - I have already purchased other accidental insurance policies. Can I avail IOB Suraksha from Indian Overseas Bank now? Will I get additional cover in such case?

Ans - Yes, this cover will be in addition to other accidental insurance schemes availed by customer.

Q. - Whether I will be entitled to get PMSBY / Rupay Card personal accidental insurance even after purchase of this policy?

Ans. - Yes, this cover will be in addition to other accidental insurance schemes availed by customer including PMSBY / Debit Cards or any other such accidental insurance policy.

Q. - I have already purchased SBI PAI / Niva Bupa PAI  from your bank / branch. Will I get double accidental insurance if I purchase SBI PAI?

Ans. - Yes, this cover will be in addition to other accidental insurance schemes availed by customer. Customers can have all 3 PAI policies i.e. IOB Suraksha, Niva Bupa PAI & SBI PAI and in such case claim will be paid by all 3 companies in case of unfortunate event happens to customer.

Q. - What are the major exclusion under this policy?

Ans - Natural Death, Suicide, death due to HIV, War, Ionizing radiation, adventurous sports, participation in military / air force / naval operations, air travel other than passenger, biological or chemical explosion, missiles, bomb, grenades, etc and person under the influence of intoxicating liquor / drugs.