If accident insurance taken through a Savings Bank account from one bank for 2 lakhs and again taken/available through another Savings Bank account with ANOTHER BANK for 2 lakhs again and when premium charges debited by both banks in the respective accounts, do we get coverage for total of 4 lakhs or 2 lakhs only especially when the cover providing company is the same.

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  • If accident insurance taken through a Savings Bank account from one bank for 2 lakhs and again taken/available through another Savings Bank account with ANOTHER BANK for 2 lakhs again and when premium charges debited by both banks in the respective accounts, do we get coverage for total of 4 lakhs or 2 lakhs only especially when the cover providing company is the same.
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If we are given knowledge on this we can decide to have one savings bank account only or have 2 or more accounts with different banks

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RLK Posted by RLK (Questions: 2, Answers: 0)
Asked on January 4, 2018 2:54 pm
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Personal Accident Insurance is a Fixed Benefit policy. Hence fixed benefits can be claimed by you under both policies in the event of an accident. The Fixed Benefits are : (1.) Death, (2) Total Disablement , (3) Partial Disablement. In the above cases the claim will be paid by both policies. Only in case like ambulance charges, etc. where the claim payable is on actuals, the policies may share the costs. Trust this clarifies the matter.
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AnswersAnonymousUser Posted by sriraviiyer@gmail.com (Questions: 1, Answers: 1)
Answered on January 11, 2018 4:49 pm
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Dear Sir/ Ma’am,

Greetings from India Elder Connect!

Thank you for posting your query.

Your question has been forwarded to expert, Kindly wait for the answer.

Regards,
Team IEC.

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Indiaelderconnect_admin Posted by India ElderConnect (Questions: 0, Answers: 60)
Answered on January 8, 2018 10:49 am
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