Post Office Accident Insurance Scheme: ₹15 Lakh Coverage for Just ₹62/Month

Are you aware that for just ₹62 a month, you can secure accident insurance coverage of ₹15 lakh through India Post Payments Bank (IPPB)? If you're someone who thinks insurance is expensive, this plan will completely change your mind.

In a country where road accidents and medical emergencies can shake a family's financial stability, having an accident insurance plan isn’t just optional — it’s essential. And thanks to IPPB, protection is now affordable, accessible, and reliable.

Let’s explore how you can benefit from this low-cost, high-benefit insurance scheme from the Indian postal system.

Table of Contents

1. What is this ₹15 lakh accident insurance policy?
    
2. How much do you pay, and what do you get?
    
3. What’s included in the coverage?
    
4. Additional ₹10 lakh plan for just ₹299!
    
5. Who can apply and how?
    
6. Final thoughts: Is it worth it?
    

What is this ₹15 Lakh Insurance Scheme?

This is a Group Accident Insurance Policy offered by India Post Payments Bank (IPPB) under the name ‘Health Plus Accident Insurance Plan’.

• Insurance Coverage: ₹15,00,000 (15 lakh)
   
• Annual Premium: ₹755 (equivalent to just ₹62/month)
   
• Insurance Partner: Generally tied with reputed insurers like Tata AIG (Check latest tie-up at your local branch)
   

You must hold an IPPB account to purchase this insurance.

What Do You Get for ₹755 Per Year?

Here’s a complete breakdown of what’s included:

Benefit Type	Amount Covered
Accidental Death Benefit	₹15,00,000
Permanent Disability (full/partial)	Covered under same sum assured
Accidental Hospitalization Reimbursement	Up to ₹1,00,000
Daily Hospital Cash	₹1,000/day for normal ward
ICU Cash Benefit	₹2,000/day for ICU stays
Bone Fracture Compensation	Up to ₹25,000
Marriage Assistance (in case of accidental death)	Applicable under some policies

No Medical Test Required
Coverage for Individuals Aged 18–65 Years

What’s Covered Under This Scheme?

This policy offers complete personal accident protection, especially valuable for:

• Road accident victims
   
• Accidental falls or trauma
   
• Hospital expenses due to accidents
   
• Disabilities due to workplace incidents or daily life mishaps
   

Unlike many other plans, this policy also provides daily cash benefits during hospitalization, which can be used for:

• Medicines
   
• Nursing charges
   
• Food and transport for family members
   

Bonus Option: ₹10 Lakh Plan for ₹299 Only

Want even cheaper insurance?

IPPB also offers a basic accident insurance plan for just ₹299/year, which covers:

• Accidental Death
   
• Permanent Disability
   
• Paralysis
   

Coverage: ₹10,00,000
No daily hospitalization or medical reimbursements included.
This is ideal for someone who wants pure risk cover at the lowest premium.

Eligibility & How to Apply

To apply for either of these policies:

1. Open an account with India Post Payments Bank (IPPB) at your local post office.
    
2. Provide your Aadhaar and PAN for KYC.
    
3. Choose between the ₹755 plan (₹15 lakh coverage) or the ₹299 plan (₹10 lakh coverage).
    
4. Pay the premium and receive your digital insurance certificate.
    

All details and documents are processed at your nearest post office or IPPB service counter.

Important Notes

• Both plans are valid for one year and must be renewed annually.
   
• Claims must be made within the stipulated timeline as per the insurer’s guidelines.
   
• The actual insurer (LIC, Tata AIG, etc.) may vary based on your region and plan version.
   

Final Thoughts: Why You Shouldn’t Miss This

In a world where accidents are unpredictable but common, having accident insurance for just ₹62/month is a no-brainer. Whether you're a salaried employee, a daily wage worker, a homemaker, or a student – this policy provides a financial safety net for you and your family.

Plus, it’s being run by a trusted national institution – India Post – with nationwide accessibility and transparency.

Quick Recap

Feature	₹755 Plan (Health Plus)	₹299 Plan (Basic Risk Cover)
Coverage Amount	₹15,00,000	₹10,00,000
Hospital Cash	Yes	No
Fracture Benefit	Yes	No
Annual Premium	₹755	₹299
Daily EMI Cost	~₹62/month	~₹25/month