Jan Sewa Bima Yojna | IFFCO Tokio General Insurance Company in India
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    Jan Sewa Bima Yojna from IFFCO Tokio

     

    The aim of Jan Sewa Bima Yojna is to offer a single fixed cover and fixed price package insurance primarily to rural and semi-urban householders. Through this policy, you can avail comprehensive insurance protection for your entire assets, interests, liability and self.

    Few main features of Jan Sewa Bima Yojna are:

    • Coverage for Fire and Special Allied Perils.
    • Coverage against Burglary, housebreaking, robbery and dacoity.
    • Coverage for Personal accident claims
    • Coverage for financial support to the dependent children

     

    The scope of Cover:

     

    This rural insurance policy in India comprises of 3 sections.

    • Section 1 provides insurance for household contents against Fire and Special Allied Perils.
    • Section 2 provides insurance to household contents, against housebreaking, robbery and dacoity and burglary.
    • Insurance cover for contents under Section A and B shall be on a 50% first loss basis only.
    • Section 3 provides Personal Accident insurance cover that results in death or permanent total disability. Proposer between the age of 18 to 70 years and proposer’s family member between the age of 5-70 years can benefit from this cover.
    • Section 3B provides financial aid to your children in case of death due to an accident. This claim, up to the amount mentioned in the policy schedule, can be put forward only once a claim has attained payable status under Benefits 1,2 & 4 of the Table of Benefits under sub-section 3(A) namely, Personal Accident. The insurance cover amount shall be payable to the named child/children of the deceased as mentioned in the insurance policy.

     

    Sections Option-1 Option-2
    Section 1: Fire - Contents Rs.1,00,000 Rs. 50,000
    Section 2: Burglary Rs.1,00,000 Rs. 50,000
    Section 3A: Personal Accident Rs. 50,000 Rs.2,00,000
    Section 3B: Education Protection Cover Rs. 50,000 Rs.2,00,000
    Premium (Excluding Tax) Rs.275/- Rs.348/-

     

     

    Points to be kept in mind

     

    1. The insurance coverage offered under Section 1 & 2,i.e. Fire and Burglary, is provided only on a First Loss Basis, with the insured amount representing 50% limit of total value at risk. Underinsurance would be applicable in case the value at risk exceeds twice the sum insured.

    2. The proposer’s age limit is 18 to 70 years

    3. The age limit for insured persons, besides the proposer, shall be 5 to 70 years

    4. This policy is a non-floating cover, meaning only the named insured person(s) shall be covered under the policy.

    5. This rural insurance insurance policy can be sold on an individual or group basis.

    6. Personal accident claims are to be settled on the basis of the table of benefits only.

    7. In case of death of the insured, the total amount payable under section 3(B) shall be deposited in a Scheduled Commercial Bank’s account as per the child’s preference, which may be expressed via his/her guardian. Withdrawal from the same can be made as per annualized instalment which is as explained below: -

    • Education Protection amount shall be payable only by means of equated annual instalments. The difference between the child’s actual age at the time of the claim and 21(twenty-one) years of age shall determine the total number of instalments permissible. For instance, if under personal accident, the child’s age is 14 (fourteen) at the claim’s time, then 7 (seven) annual instalments shall be payable up to the amount of insured sum.
    • Education Protection insured sum shall be equally divided in case there are two or more children. The difference between each child’s actual age at the time of the claim and 21(twenty-one) years of age shall determine the total number of equated annual instalments payable to each child. For instance, if a child’s age is 18(eighteen) years and another is of 12 (twelve)years, then the latter would receive 9(nine) equated annual instalments whereas the former shall receive 3 (three) equated annual instalments.
    • Or, the entire amount payable to the child shall be transferred to his/her account at the time of claim, and if the child/guardian so desires, the said amount may be withdrawn once the child attains 21 (twenty-one) years of age.
    • In the absence of a child in whose favour the said payment may be made, the total amount payable under this section shall be paid to the nominee as mentioned under the insurance policy.

     

    Claims Management

     

    Documents/information required for a claim settlement is as follows: -

    Fire Claim 

    • Properly filled and signed the claim form
    • A List of damaged contents or items
    • Newspaper cuttings/Fire Brigade report/Panchnama
    • Photographs of the damaged site and/or goods
    • An estimation of the insurance claim
    • The insurance policy copy
    • Any other additional or relevant information that the insured may like to submit.

     

    Burglary Claim

     

    • Properly filled and signed the claim form
    • FIR of the burglary
    • Burglary proof in the form of photographs
    • The insurance policy copy
    • Any other additional or relevant information that the insured may like to submit.

     

    Personal Accident claim

     

    • Properly filled and signed the claim form
    • The insurance policy copy
    • FIR of the accident & in case of a death claim, a Post-mortem report
    • In case of a disability claim, a doctor’s certificate
    • Certificate of Death

     

    Policy cancellation:

     

    We may cancel this Policy by sending 15 days’ notice in writing by Regd. A.D. to You at Your last known address. You will then be entitled to a pro rata refund of premium for the unexpired period of this Policy from the date of cancellation, which We are liable to repay on demand. You may cancel this Policy by sending a written Notice to Us. We will then arrange a refund after retaining the premium based on the following Short Period scale.

    Cancellation Period Refund
    Within One Week of inception of cover 25% of premium
    Beyond One Week of inception of cover but within 15 days of inception of cover. 12.5% of Premium
    Beyond 15 days of inception of cover NIL
    Scope of Cover:
    The Policy consists of 3 sections.
     
    1. Section 1 covers household contents against Fire and Special Allied Perils.
    2. Section 2 provides coverage to household contents, against Burglary, housebreaking, robbery and dacoity.
    The coverage under Section A and B shall be on 50% first loss basis.
    3. Section 3 provides Personal accident cover to the proposer/family member resulting in death or PTD. The age limit for this section in case of other then proposer is 5-70 years and age limit for proposer is 18 to 70 years
    4. Section 3B provides financial support to the dependent children’s in case of death of the Insured person (Parent) due to accident. 
    The claim under this sub-section, up to the amount as shown in the policy schedule, will trigger only after a claim has become payable under Benefits 1, 2& 4 of Table of Benefits under sub-section 3(A) viz Personal Accident. The amount shall be payable to the named child/children of the insured as mentioned in the policy schedule
     
    Sections Option-1 Option-2
    Section 1 :: Fire - Contents Rs.1,00,000 Rs.50,000
    Section 2 :: Burglary Rs.1,00,000 Rs.50,000
    Section 3A :: Personal Accident Rs.50,000 Rs.2,00,000
    Section 3B :: Education Protection Cover Rs.50,000 Rs.2,00,000
    Premium (Excluding Tax) Rs.275/- Rs.348/-

     

    Points to be kept in mind:
    1. The coverage under Section 1 & 2 ie. Fire and Burglary, is given on First Loss basis, with Sum Insured representing 50% limit of total value at risk. If value at risk is more than twice the sum insured underinsurance would be applicable.
    2. Age limit for proposers  shall be 18 Years to 70 Years
    3. Age limit for Insured other then the proposer shall be 5 to 70 Years.
    4. It is a non floating cover i.e only the named insured person is covered.
    5. The policy can be sold to individuals as well as groups.
    6. Claims under the personal accident section shall be settled based on table of benefits provided for this purpose.

    1. Total Amount payable under section-3(B), in case of the death of the Insured person, shall be deposited in a Bank Account in a Scheduled Commercial Bank of the Child’s choice (expressed through a guardian). Withdrawal can be made from the said account on the basis of annualized installment as described below.
    a) Education Protection amount shall be payable in the form of equated annual installments. The number of installments shall be determined by the number of years difference between actual age of the child at the time of the claim and 21 (twenty one) years of age. That is to say if the age of the child at the time of claim trigger under personal accident is 14 (fourteen) years, then 7(seven) annual installments shall be paid up to the amount of Sum Insured.  
    b) In case there are two or more children, then the education protection amount shall be equally divided between/amongst them. The number of equated annual installments payable for each child shall vary depending upon the difference between actual age of each child and 21 years. That is to say if one child's age is 12 (twelve) years and another is 18(eighteen) years, then in case of the former there would be 9(nine) equated annual installments and for latter there would be 3 (three) equated annual installments.
     
    2. Or, We shall pay the entire amount to the child’s account as mentioned above at the time of claim, and if the child/guardian so desires, the amount may be withdrawn after the child attains the age of 21 years.
     
    In case there is no child in existence in whose favor this payment may be made, the amount payable under this section shall be paid to the nominee declared under the policy.
    Claims Management
    Following documents/information is required for settlement of a claim:
     
    Fire Claim
     
    • Duly Filled and signed claim form
    • List of contents damaged
    • Fire Brigade report / Panchnama / Newspaper cuttings
    • Photographs
    • Claim Estimation
    • Policy copy
    • Any other relevant information, which Insured may like to submit
     
    Burglary Claim
    • Duly Filled and signed claim form
    • FIR
    • Photographs to prove the event of Burglary
    • Policy copy
    • Any other relevant information, which Insured may like to submit
     
    Personal Accident claim
    • Duly Filled and signed claim form
    • Policy copy
    • FIR & Postmortem in case of death claim
    • Doctor’s certificate in case of disability.
    • Death certificate

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