This add-on cover is a lump sum benefit policy covering death, or permanent disability transpired while involving in extreme sports. This cover is linked to the base life cover allowing you a benefit up to Rs.1 Crore with three payout options — 25%, 50% or a 100% of the sum insured. However, there’s a capping on the maximum payout. It is up to Rs.1 Crore, irrespective of the sum insured and the percentage you choose.
The premiums are mostly based on the payout rate you want — You'll have to pay an additional Rs.4,300 for 25% payout towards death benefit for a Rs.1 crore sum insured. Similarly, Rs.8,600 for 50% and Rs.17,200 for a 100% payout. While the gender or age do not influence the premium, they are mainly based on your profession. This logic may sound quite irrational as the occupation, and comparative pricing may be relevant in the case of the standard personal accident cover but not for adventure sports add-on.
As in all insurance plans, this add-on protection also has limitations on its scope of coverage. Firstly, it's strictly for non-professional pursuits where the policyholder involves in activities for leisure only conducted under the supervision of a trained professional. Secondly, it does not cover any partial disability or temporary injuries such as an injured ankle or a bruised toe.
Every insurance plan is unique, so do review your adventure sports cover thoroughly before buying to ensure it covers what you require, including all of the activities you intend to do. If your vacation involves the slightest risk to your life, this cover is a smart move. After all, a holiday of your dreams clubbed with complete peace of mind is a perfect blend!
