Portaplan accident insurance provides financial protection in the event of an accidental death or specified injuries resulting from an accident. You must have at least one unit of term life insurance in order to apply for this coverage.
Coverage and Premiums
The maximum coverage available is the equivalent of your term life insurance coverage. The benefit payable for loss of life is in addition to the death benefit under your term life insurance.
The monthly premium is $0.45 per unit of coverage. The value of each unit is as follows:
|Schedule of Benefits|
|Age of Policyholder
on Renewal Date
Benefits under this insurance are payable when death or covered injuries occur within 365 days of an accident. The accident must be the sole cause of death or covered injury in order for the benefit to be paid.
The following schedule lists benefits payable for any loss or the permanent and total loss of use. Loss of use must be total and irrevocable and must be continuous for 12 months after which the benefit for loss of use is payable, provided damage is determined to be permanent.
|Table of Covered Losses|
|Life||100% of benefit amount plus Loss of Life Benefits|
|Paraplegia, quadriplegia or hemiplegia||200% of benefit amount|
|One hand and one foot; both hands or both feet; sight of both eyes; one hand and sight of one eye; one foot and sight of one eye; speech and hearing in both ears||100% of benefit amount|
|One arm or one leg||75% of benefit amount|
|One hand or one foot; sight of one eye; speech or hearing in both ears||66 2/3% of benefit amount|
|Thumb and index finger on one hand or at least four fingers of one hand||33 1/3% of benefit amount|
|Hearing in one ear; all toes of one foot||25% of benefit amount|
If, as a result of the accidental injury, you suffer a covered loss, you may be eligible for the following additional benefits:
- Family Transportation Benefit
- Home Alteration and Vehicle Modification
- Hospitalization Allowance
- Rehabilitation Benefit
Loss of Life Benefits
Other benefits that may be payable in the event of your accidental loss of life include:
- Child-Care Expenses
- Children’s Education Expense
- Seatbelt Benefit
- Spousal Occupational Training Benefit
- Repatriation Expenses
- Waiver of Premiums
Limitations and Exclusions
Any loss must be the result of an accident, occur within 365 days of the accident and be complete and irrecoverable. Payment will be made only for one loss, the greatest sustained by the policyholder as the result of any one accident.
No benefit is payable for any loss directly or indirectly related to suicide or self-inflicted injury, whether the person is sane or insane.
Termination of Coverage
Accident coverage terminates when one or more of the following occurs:
- The term life insurance is terminated.
- The required premiums are not paid when due.
- The accident insurance coverage is cancelled.
- The attained age of the policyholder on the renewal date is 90.