Personal Accident and Critical Illness policy

[Veerendra]

Personal Accident Insurance
You can buy IFFCO-TOKIO’s ‘Individual Personal Accident Insurance Policy’ or New India’s ‘Personal Accident Policy’).

IFFCO - Tokio’s PA policy also covers following additional benefits -
1.Education Benefit
2.Employment Benefit
3.Ambulance Benefit
4.Cumulative Benefit
You can also cover following extra benefits on payment of extra premium -
1.Medical Expenses
2.Cost of Supporting Items
3.Cost of Travel
More info check here -

I saw this text on the webpage you mentioned:

Education Fund
In the event of death, permanent total disablement
i.e. 1 to 4 of “Table of Benefits” of Insured Person,
we will approve compensation towards Education
Fund for dependent children as below:
a) For one child upto the age of 23 yrs.

b) For more than one children upto the age of 23
yrs.
-10% (Ten percent) of C.S.I Subject to a maximum of Rs.
5000/-
-10% (Ten percent) of C.S.I Subject to a maximum of Rs.
10000/-
E. Loss of Employment
In the event of accident leading to loss of
employment as a consequence of 2, 3 and 4 of
Table of Benefits.


- Rs. 15000 or 1% of CSI whichever is lower.


From preliminary analysis at least the education fund is maximum Rs. 5000/- or Rs. 10,000/- which can hardly be called a compensation.

It perhaps is a marketing gimmick.

I seek the opinion of experts on this point.

Regards,

Veerendra