What is GAG Policy?
India Post Payments Bank (IPPB) offers various insurance plans in India to provide financial security and risk coverage for its customers. Among these, Group Accident Guard (GAG) Policy is one of the best accident insurance policies in India, a policy offering comprehensive coverage with affordable premiums and convenient terms. This policy helps a policyholder and his family to get financial support at the right time when they are struck due to unplanned events like accidents, fires, crimes and natural disasters.
Why wait for unexpected risks? Explore the benefits of the GAG Policy and take a step towards financial peace of mind by getting the GAG today!
What is the GAG Policy?
The IPPB Accident Insurance – Group Accident Guard (GAG) policy – provides structured and high-quality comprehensive accident coverage in India to financial customers. It is used to safeguard policyholders from financial losses that may arise from accidents, theft, fire or natural disasters.
Besides these, there are government schemes such as Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) that provide affordable accident insurance policy at low premiums and extensive benefits.
GAG Insurance Premium Options
GAG Insurance Premium Option 1
Coverage | Benefit Amount |
Accidental Death | Rs.10,00,000 |
Permanent Total Disability | Rs.10,00,000 |
Permanent Partial Disability | Rs.10,00,000 |
Accidental Dismemberment and Paralysis | Rs.10,00,000 |
Accidental Medical Expenses (IPD) | Rs.1,00,000 or actual claims, whichever is lower |
Evacuation Benefit | Rs.5,000 |
Education Benefit | 10% of SI or Rs.1,00,000 (for max 2 children) |
In-Hospital Daily Cash (Accident Only) | Rs.1,000 per day (max 10 days, 2 days deductible) |
Family Transportation Benefits | Rs.25,000 or actuals, whichever is lower |
Repatriation of Remains | Rs.5,000 or actuals, whichever is lower |
Funeral Benefits | Rs.5,000 |
Coma Benefit | Rs.1,00,000 (one-time) |
Terrorism | Covered |
Teleconsultations – General | Unlimited via TATA AIG app |
Post Tax Premium | Rs.520 |
GAG Insurance Premium Option 2
Coverage | Benefit Amount |
Accidental Death | Rs.10,00,000 |
Permanent Total Disability | Rs.10,00,000 |
Permanent Partial Disability | Rs.10,00,000 |
Accidental Dismemberment and Paralysis | Rs.10,00,000 |
Accidental Medical Expenses (IPD) | Rs.50,000 or actual claims, whichever is lower |
Evacuation Benefit | Rs.5,000 |
Family Transportation Benefits | Rs.10,000 or actuals, whichever is lower |
Repatriation of Remains | Rs.5,000 or actuals, whichever is lower |
Funeral Benefits | Rs.5,000 |
Coma Benefit | Rs.50,000 (one-time) |
Terrorism | Covered |
Teleconsultations – General | Unlimited via TATA AIG app |
Post Tax Premium | Rs.320 |