Recently, you heard about 399 Post office scheme. Do you know what is post office scheme 399? If not, then you have to read this post to learn recently launched post office insurance scheme 399.

India Post office department has launched an insurance scheme for people. We can get insurance up to 10 lakh by this insurance scheme for just 399/- & 299/- rupees premium only.

399 post office scheme details

399 Post Office Scheme details

It is a group accident Insurance scheme that provides us accidental coverage for our life. We know that our life is essential. Sometimes, bad events occur in our lives and we can't get various benefits without an insurance plan. So, we have to purchase a group accidental insurance plan.

Right now, after a collaboration of TATA AIG insurance and Post office department, India Post Payments bank launched a new Group Accidental insurance plan. It is also known as 399 Post office scheme.

Only IPPB account holders can get a 399/- post office insurance scheme. So, first of all, you have to open an IPPB account and then get a new post office insurance scheme.

 

Eligibility criteria for post office group accidental insurance plan

India Post office department fixed basic eligibility criteria for 399/- post office scheme. You can check it out below.
  • First of all, the customer must have an IPPB account.
  • Customers should age between 18 years to 65 years.

Post office insurance scheme 399 features and benefits

We know that Post office group accidental insurance plan has a lot of benefits, which makes it India's best insurance scheme in 2022.

The main and basic features and benefits are listed here for a quick overview. 
  • When a death occurs within 1 year, it provides a 100% coverage limit of the sum insured.
  • It also covers permanent disability and partial disability coverage within 365 days.
  • It also covers Accidental Medical Expenses and hospitalization expenses due to accidents for a period of more than 24 hours.
  • It also provides educational benefits to the child of an insured person in case of accidental death or permanent disability.
  • It provides family transportation benefits. When an insured person is hospitalized due to an accident and his immediate family comes to meet him at the hospital, all expenses for this journey are claimed.
  • It also covers OPD expenses when an accident happens.
  • It also provides per day benefit to an insured person for the period of hospitalization due to an accident.


Post Office Insurance Scheme 399 plan details

Post Office Group Accidental Insurance has two types of plans. These are as under-
  1. GAG Insurance Basic Option Plan
  2. GAG Insurance Premium Option Plan

01. GAG Insurance basic Option Plan

It is the basic plan of Group Accidental insurance plan. The premium of this plan is 299/- . 

Accidental Death

10 Lakh

Permanent Total Disability

10 Lakh

Permanent Partial Disability

10 lakh

Accidental Dismemberment and Paralysis

10 Lakh

Accidental Medical Expenses IPD

Fixed up to Rs 60,000 or actual claims whichever is lower

Accidental Medical Expenses OPD

Fixed up to Rs 30,000 or actual claims whichever is lower

Policy Premium

299



Post office 399 insurance policy details

02. GAG Insurance Premium Option plan

It is the premium plan of Group Accidental insurance plan. The premium of this plan is 399/- . 

Accidental Death Coverage

10 Lakh

Permanent Total Disability coverage

10 Lakh

Permanent Partial Disability coverage

10 Lakh

Accidental Dismemberment and Paralysis coverage

10 Lakh

Accidental Medical Expenses IPD

Fixed up to Rs 60,000 or actual claims whichever is lower

Accidental Medical Expenses OPD

Fixed up to Rs 30,000 or actual claims whichever is lower

Education Benefit

10% of SI or Rs 100000 or Actual whichever is lower for maximum 2 eligible children

In-Hospital Daily Cash

Rs 1000 per day up to 10days (1 day deducible)

Family Transportation Benefits

Rs 25000 or actuals whichever is lower

Last Rites Benefit

Rs 5000 or actuals whichever is lower

Policy Premium

399/-



399 post office scheme features


Post Office Insurance scheme 399 plan online Apply

If you are already IPPB customer, then you can easily apply for 399/- post office scheme. Just follow the below procedure to apply for it.
  • First of all, you have to visit your nearest IPPB branch.
  • Tell bank staff, you are an IPPB customer and wants to get 399 post office insurance scheme (accidental)
  • Bank staff will check your basic detail and he will apply for 
  • After that a confirmation message will receive on your registered mobiel number contains insurance policy number and other details.

399 post office accidental insurance plan not covered?

The below-listed situation/death/accident will not be covered. These are as under-
  • Suicide
  • Military services or operations
  • War
  • Illegal act
  • Bacterial Infections
  • Disease
  • AIDS
  • Dangerous sports

My thought

Today I explained about 399 post office scheme and their features. You can also check here How to apply for post office insurance scheme 399. You have to purchase a 399 post office insurance policy to protect yourself under accidental coverage.

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