faq_on_iob_suraksha

Last Updated:29/01/2026
FAQ on IOB Suraksha

Indian Overseas Bank

FAQs on IOB Suraksha

Q. - What is IOB Suraksha policy in Indian Overseas Bank?

Ans - IOB Suraksha is an accidental insurance plan which provides Personal Accidental Insurance coverage of Rs. 5 lacs/ Rs. 10 lacs /Rs. 20 lacs under Plan A/ B/ C respectively in case of accidental death of subscriber.

Q. - What is the premium for Plan A / Plan B / Plan C?

Ans. -

Plan Sum Assured Premium

A

Rs. 5 Lacs

Rs. 150 +GST

B

Rs. 10 Lacs

Rs. 300 +GST

C

Rs. 20 Lacs

Rs. 900 (including GST)

Q. - What is the age criteria for availing IOB Suraksha?

Ans - Entry age is 18-70 Years; renewal can be done lifelong.

Q. - Whether only death is covered due to accident or any other coverage is also there with this policy?

Ans. - Plan A & Plan B -Only accidental death is covered, however Plan C offers additional coverage such as Permanent Total Disabilities; funeral expenses; ambulance including air ambulance charges; lifestyle modification charges and children education expenses etc.

Q. - What are the claims admissible over and above Rs. 20 lacs in case of accident?

Ans. - The following claims are admissible under Plan C over and above Rs. 20 lacs in case of accident:

Q. - Whether only death is covered due to accident or any other coverage is also there with this policy?

Ans. - The policy offers sum insured of Rs. 20 Lacs in case of accidental death as well as following coverage is also available with the policy:

 
Nature of Claim Amount Admissible

Funeral Expenses

Upto Rs. 5000

Carraige of Mortal Remains

Upto Rs 10000

Ambulance Cover

Upto Rs. 10000

Air Ambulance

Upto Rs. 5,00,000

Lifestyle Modification

Upto Rs. 50,000

Child Education cover

Upto Rs. 50,000
Basic Cover % of Sum Insured

Accidental Death

100%

Disappearance (Un-traceability of insured person for continuous 365 days)

100%

Permanent Total Disability - Loss of

  • Sight of both eyes
  • Both Hand & Both Feet
  • One Hand and One Foot
  • Either Hand or Foot and Sight of One Eye
  • Speech
  • Lower Jaw
  • Total Paralysis
  • Third degree burn
  • Compound Fracture of Skull with damage to brain tissues
  • Permanent & incurable insanity
  • Total brain-dead cases
  • Permanent total loss of thoracic or abdominal organs

100%
 

Q. - Whether hospitalization due to accident is also covered under this policy?

Ans. - No, hospital expenses caused due to accidents are not covered under this policy.

Q. - I have already purchased other accidental insurance policies. Can I avail IOB Suraksha from Indian Overseas Bank now? Will I get additional cover in such case?

Ans - Yes, this cover will be in addition to other accidental insurance schemes availed by customer.

Q. - Whether I will be entitled to get PMSBY / Rupay Card personal accidental insurance even after purchase of this policy?

Ans. - Yes, this cover will be in addition to other accidental insurance schemes availed by customer including PMSBY / Debit Cards or any other such accidental insurance policy.

Q. - I have already purchased SBI PAI / Niva Bupa PAI  from your bank / branch. Will I get double accidental insurance if I purchase SBI PAI?

Ans. - Yes, this cover will be in addition to other accidental insurance schemes availed by customer. Customers can have all 3 PAI policies i.e. IOB Suraksha, Niva Bupa PAI & SBI PAI and in such case claim will be paid by all 3 companies in case of unfortunate event happens to customer.

Q. - What are the major exclusion under this policy?

Ans - Natural Death, Suicide, death due to HIV, War, Ionizing radiation, adventurous sports, participation in military / air force / naval operations, air travel other than passenger, biological or chemical explosion, missiles, bomb, grenades, etc and person under the influence of intoxicating liquor / drugs.