Micro Insurance Policies offered by Insurance Companies:
| Jan Sewa Bima Yojana | Janata Suraksha Bima Yojana | |
| IFFCO – TOKIO | IFFCO – TOKIO | |
| Features | Can be offered to individual/group. | Can be offered to individual/group. |
| Eligibility | All household contents, For PA age 5 to 70 and proposer age 18 to 70. For Section I(Fire) & Section II(Burglary) Coverage is on fire loss basis with SI 50% if SI is found less than 50% of total value at risk underinsurance charged. | Same as left. |
| Sum Insured | Option 1: Under section 1 and 2, Rs.1,00,000 SI, Under section 3A: PA & 3B: Education Protection cover Rs. 50,000 Option 2: Under section 1 and 2, Rs.50000 SI, Under section 3A: PA & 3B: Education Protection cover Rs. 2,00,000 |
Section 1 (Five options): – Fire building(12500, 25000, 30000, 100000, 200000) Fire contents (12500, 25000, 30000, 100000, 200000), burglary (12500, 25000, 30000, 100000, 200000). Section 2 (Five options): – PA (15000, 30000, 50000, 150000, 200000) |
| Cover | Fire & Allied perils, Burglary, housebreaking, robbery and dacoity, death/PTD, Education protection cover in case of PA claim admitted. | Section 1: – Dwelling against fire perils. Household contents on 50% first loss basis against fire and burglary perils. PA cover to insured and spouse on a floater basis. Death and PTD. |
| Add on | NA | NA |
| Deductible/Excess/Maximum Liability | NA | NA |
| Depreciation | NA | NA |
| Clause/Endorsements | NA | NA |
| Policy Term | 1 year | 1 year |
| Premium | Option1: Rs. 275 Option 2: Rs.348 (Excluding Service tax) |
For 5 options (Rs.87 Rs.175 Rs.225 Rs.500 Rs.870 ) (Excluding Service tax) |
| Discounts | NA | NA |
| Exclusions | Wear and tear, consequential loss, confiscation, pre existing damage, matching of items. Damage caused to fences & gates, House remains unoccupied for more than 30days unless informed. Rest same as left column. | Wear and tear, consequential loss, confiscation, pre existing damage, matching of items. |
| Basis of settlement | As per sum insured | For section 1 market value basis. |
| Jan Suraksha Bima & Mahila Suraksha Bima Yojana | |
| IFFCO – TOKIO | |
| Features | Designed for members of various groups, particularly targeted to the economically weaker section of society, |
| Eligibility | Individual or group of people |
| Sum Insured | Minimum SI per person per annum: Rs. 10,000; A higher Sum Insured can be chosen in multiples of Rs 5,000 subject to a maximum of Rs.1,00,000. |
| Cover | Death, Loss of two limbs two eyes, or one limb and one eye, Loss of one limb or one eye, Permanent Total Disablement from injuries other than those named above (PTD). |
| Add on | NA |
| Deductible/Excess/Maximum Liability | Not mentioned |
| Depreciation | Not mentioned |
| Clause/Endorsements | Not mentioned |
| Policy Term | Not mentioned |
| Premium | This class of business is non-tariff The standard premium shall be charged @Rs 0.60% on the group Sum Insured, with Group Discount allowed depending on the group size. |
| Discounts | Not mentioned |
| Exclusions | Self injury, venereal disease intoxicating liquor, child birth disablement, criminal intent, aviation, dangerous sports variation of HIV or AIDS, War and allied perils, Nuclear perils |
| Basis of settlement | Lumpsum Benefit |
| GRAMEEN CARE-MICRO INSURANCE PRODUCT | |
| RELIGARE | |
| Features | When group members along with their families are covered then it will be on floater basis(max up to 5members) When group members covered on Individual basis without families coverage is provided on Individual basis only |
| Eligibility | Adults (including primary insured member): 18 years to 70years Child: 1day to 24 years Adults (other than primary insured member): lifelong |
| Sum Insured | Benefit 1: Rs.50,000 Benefit 2: Rs. 25,000 to Rs. 1 lakh (in multiples of Rs. 1,000) |
| Cover | Benefit 1: Hospitalization Expenses: Inpatient care, Daycare treatment, Pre & Post medical expenses, Maternity expenses, Reinstatement of SI. Benefit 2: Personal Accident: Death, PTD |
| Add on | NA |
| Deductible/Excess/Maximum Liability | Not mentioned |
| Depreciation | Not mentioned |
| Clause/Endorsements | Not mentioned |
| Policy Term | 1year |
| Premium | Not mentioned |
| Discounts | Direct sourcing discount: 15% of premium |
| Exclusions | Any claim in respect of any Insured member for, arising out of or directly or indirectly due to any of the following shall not be admissible unless expressly stated to the contrary elsewhere in this document: Any condition or treatment as specified in list of non-medical items (Annexure II) Treatment taken from anyone who is not a medical practitioner or from a medical practitioner who is practicing outside the discipline for which he is licensed or any kind of self-medication. Any claim related to hazardous activities |
| Basis of settlement | Indemnity & Lumpsum |
| Micro Insurance Policy | |
| SBI General Insurance | |
| Features | This is a package cover catering to the insuring need of insured in respect of asset, Personal accident and health. organisations, who render services to persons falling under the low income segment, such as Banks, Micro Finance / Micro Credit institutions, Cooperatives, Non Governmental Organisations (NGOs) and Self Help Groups (SHGs). |
| Eligibility | 18 yrs to 65 years.; 6months and children covered only if either of the parents are concurrently insured with SBI General (except in the case of Hospital Cash and Critical Illness); Renewable up to: 70 yrs |
| Sum Insured | Coverage Sum Insured Limit Personal Accident (Compulsory) – Rs.10,000 to 50,000/ per person Critical Illness (Optional) – Rs. 10,000 to 30,000/ per person Hospital Daily Cash (Optional) – Rs. 250 per day for 60 days or Rs. 250 per day for 90 days Asset Insurance (Optional) – Maximum Rs. 30,000/ |
| Cover | Personal Accident (Compulsory) Hospital Daily Cash (Optional) Asset Insurance (Optional) Critical Illness Benefit (Optional) |
| Add on | Yes, Critical Illness, Hospital Daily Cash & Asset Insurance |
| Deductible/Excess/Maximum Liability | Not mentioned |
| Depreciation | Not mentioned |
| Clause/Endorsements | Not mentioned |
| Policy Term | |
| Premium | Not mentioned |
| Discounts | Not mentioned |
| Exclusions | Nuclear risk, mentioned sports activity , War and allied perils , Genetic disorder and stem cell implantation, mental or nervous disorder, treatment with alternative medicines , Self injury |
| Basis of settlement | Indemnity & Lumpsum |