An Insurance For Adventure Sports Has Got Introduced For The First Time In India

Tag : adventure, rafting

 How about an insurance policy for the adventure sports you are planning to experience in Goa? Can’t believe right? Last week, Bajaj Allianz General Insurance launched an add-on adventure sports cover with its Global Personal Accident Plan and became the sole insurer to do so. Now you can go for rappelling and bungee-jumping with an insurance plan covering the risk. Say it; whether for an escape, or craving to experience adventure sports, we try to explore one new adventure sports at our holiday destination. Now, you can experience the same fun without the fear of risk as the insurance plan is right there by your side.

"The traditional products available in the market are 40-year-old and fail to cover the new-age risks associated with the changing lifestyle requirements of Indian customers. The new personal accident insurance plan is trying to break the traditional norm of a one-size-fits-all product strategy by allowing the customer the flexibility to choose the terms of their policies based on their requirements," stated Abhijeet Ghosh, head, health administration, Bajaj Allianz General Insurance. Not only this, but there are other plans which offers atypical add-ons like  EMI payment cover, fracture care and loan protector cover for an accident.

For now a monopoly, there is no competition to be faced by the Bajaj Allianz General Insurance. And so, if you are planning for an extra-ordinary sport in India, Bajaj Allianz is the only option for your rescue. But, if you are planning for a sport in abroad, you may find multiple options as globally, adventure sports cover is not something new.

Merits and Limitations:

The Bajaj Allianz insurance policy acts as a benefit as it covers the risks of accidents. Rs 1 crore can be covered under the plan to insure death or any replicas de relojes permanent disability. It does not cover a partial disability or temporary injuries (losing a toe or a finger and payments for the hospital bills)

This policy acts as an addition for the cover of complete permanent disability if one holds a Life Insurance policy along.

Another limitation is that the maximum payout under this plan is Rs 1 crore. So, even if you hold 3 crore sum insured in the policy  and have opted for a 100% payout for the adventure sports cover, you only avail the cover of Rs. 1 crore under the base policy of death or permanent disability.

Consideration:

The Bajaj Allianz is the only insurer of such policy in India. And for risky adventure sports, it is better to have some protection rather than having none of it. But, if you are planning to experience an adventure sport abroad, you have alternatives so inquire with the organization that is facilitating the sports and compare.

News Source ::: http://goo.gl/hQmQJJ

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