Among the private general insurance companies, the game of one up manship is hotting up. In concert with KARVY, Cholamandalam has introduced in June '05 a combo product by name Parivar. The salient features of which are as follows.

• It is a combination of personal accident (PA) and health insurance.
• Floater facility is offered both on PA and health covers. Under one single sum, benefit can be availed of by any one or all covered in the policy for the sum opted. So far no other general insurance co. has offered floater facility on personal accident and only one company has given floater on Health Insurance.
• There are 3 plans: plan I for 2 Adults, plan II for 2 Adults + 1 kid, plan III for 2 Adults + 2 kids. Under personal accident, sum insured is available for Rs.5/10/15/20/25 lakhs. For health policy it is Rs. 2/3/4/5 lakhs. Combination of any sums under personal accident and health by customer as per need and budget can be opted.
• Maximum age at entry is 45 years.
• No pre medical tests are insisted. Declaration of good health by proposer is accepted in good faith.
• Income Tax benefit under Sec 80D is available.

• Compensation ranging from Rs.5 to 25 lakhs basing on sum chosen, in case of accidental death or permanent total disability.
• Huge lump sum benefits in the event of permanent partial disability.
• For temporary total disability due to accident, compensation is payable to compensate loss of Income for the disablement period.
• In case of permanent total disability due to accident, reimbursement of expenses for modification of residential accommodation or motor vehicle.
• In the event of fracture due to accident, under broken bones coverage, compensation is payable. This benefit is not offered by other insurers.
• If children are not able to attend school/college due to accident, compensation payable for private tuition fee.

• Hospitalization expenses for accidental injuries or sickness/disease.
• Cash free hospitalization.
• Pre and post hospitalization expenses for 60 and 90 days respectively.
• About 150 minor surgeries covered under day case expenses requiring less than 24 hr hospitalization, subject to pre-authorization.
• Hospital daily allowance.
• Re-imbursement of cost involved in external aids and appliances.
• Home nursing care allowance.

Parivar policy is subject to exclusions common to PA and Health Insurance offered by any insurance Company.

One private operator has recently come forward to cover pre-existing diseases under health insurance. If one goes in detail, the cover is subject to time excess, amounts offered are too meager (regardless of sum insured under the policy) and inadequate to meet the expenses. Therefore it loses the attraction.

Considering the floater facility, wide coverage and benefits offered at very competitive premium rates, Parivar policy is worth taking for every family.