Veer Account Terms and Conditions

1. Personal Accidental Death Cover on Salary Account - Covers accidental death resulting within 12 months from bodily injury due to accident only (including Mob fury / Riots / Encounter /  Terrorist attack / Bomb Blast / Homicidal / Counter Insurgency) .The insurance cover is not applicable for whose death is caused by suicide or attempt to suicide, for Bodily Injury or Sickness  occasioned by Civil War or Foreign War and for cases mentioned in Annexure I and all coverage of insurance are as per terms and conditions mentioned in the insurance policy, as per sole  discretion of the insurance company. All the correspondence related to claim will then be directly taken up between the Insurance Co and the claimant with HDFC Bank Ltd acting as a facilitator

Eligibility: Cover provided only to the primary account holder. On the event date, the account holder

  • Is a bonafide employee (aged less than 70 years) of Indian Defence Personnel
  • Is holding a Defence Salary Account under the Corporate Salary Account Program with HDFC Bank and has received salary in HDFC Bank account in previous 3 months to the date of death
  • Should have carried out at least one purchase transaction using the Debit Card, within 6 months prior to the date of loss
  • In case of International Air Accidental Death claim ticket should have been purchased using Debit Card linked to Salary Account


Terms and Condition of Permanent Total Disablement and Permanent Partial Disablement

Permanent Total Disablement - The bodily injury, which is direct cause of permanently, totally and absolutely disabling the person insured from engaging in being occupied with or giving attention  to any employment or occupation of any description whatsoever

Permanent Partial Disablement - The bodily injury which is the sole and direct cause of total and irrecoverable loss of use of or the actual loss by physical separation permanently incapacitating  the Insured Person to the extent of 40% or more in aggregate

Basic Eligibility for Permanent Total / Partial Disablement

Cover provided only to the primary account holder.

On the event date, the account holder,

1. Is a bonafide employee (aged less than 70 years) of Indian Air force

2. Is holding a Salary Account under the Corporate Salary Account Program with HDFC Bank and has received salary credit in HDFC Bank account in previous 3 months

3. Should have carried out at least one purchase transaction using the debit card, within 6 months prior to the date of loss

4. Covers permanent disability resulting within 12 months from bodily injury due to accident only


Permanent Total Disablement & Permanent Partial Disablement

If such injury shall within Twelve (12) calendar months of its occurrence be the sole and direct cause of the total and Irrecoverable loss of

TABLE OF BENEFITS – TABLE (D) 

The Disablement Compensation Expressed as a
Percentage of Total Sum Insured
1) Permanent Total Disablement 100%
2) Permanent and incurable insanity 100%
3) Permanent Total Loss of two Limbs 100%
4) Permanent Total Loss of Sight in both eyes 100%
5) Permanent Total Loss of Sight of one eye and one Limb 100%
6) Permanent Total Loss of Speech 100%
7) Complete removal of the lower jaw 100%
8) Permanent Total Loss of Mastication 100%
9) Permanent Total Loss of the central nervous system or the thorax and all abdominal organs resulting in the complete inability to engage in any job and the inability to carry out Daily Activities essential to life without full time assistance 100%
10) Permanent Total Loss of Hearing in both ears 75%
11) Permanent Total Loss of one Limb 50%
12) Permanent Total Loss of Sight of one eye 50%
13) Permanent Total Loss of Hearing in one ear 15%
14) Permanent Total Loss of the lens in one eye 25%
15) Permanent Total Loss of use of four fingers and thumb of either hand 40%
16) Permanent Total Loss of use of four fingers of either hand 20%
17) Permanent Total Loss of use of one thumb of either hand:  
a) Both joints 20%
b) One joint 10%
18. Permanent Total Loss of one finger of either hand:
1.Three joints
2.Two joints
3. One joint		 5%
3.5%
2%
19) Permanent Total Loss of use of toes:  
a) All – one foot 15%
b) Big – both joints 5%
c) Big – one joint 2%
d) Other than Big – each toe 2%
20) Established non-union of fractured leg or kneecap 10%
21) Shortening of leg by at least 5 cms. 7.50%
22) Ankylosis of the elbow, hip or knee 20%


DEPENDENT CHILD EDUCATION BENEFIT

  • If during the Period of Insurance an Insured Person sustains Bodily Injury which directly and independently of all other causes results in death within twelve (12) months of the Date of Loss,  then the Company agrees to pay the education fees for the Insured Person’s surviving Dependent Child up to the amount stated in the Schedule. 

Specific Conditions 

  • To receive benefits under this Section, the Dependent Child must be in full time education at an accredited educational institution.
  • ​​​​​​​The Total Sum Insured is the total amount payable for all Dependent Children combined, not per person.

DEPENDENT DAUGHTER MARRIAGE BENEFIT

  • If during the Period of Insurance an Insured Person sustains Bodily Injury which directly and independently of all other causes results in death within twelve (12) months of the Date of Loss, then  the Company agrees to pay the Marriage Benefit for the Insured Person’s surviving Dependent unmarried Daughter (Age more than 18 Years) up to the amount stated in the Schedule. 

Specific Extensions 

1. Disappearance: In the event of the disappearance of an Insured Person, following a forced landing, stranding, sinking or wrecking of a conveyance in which such Insured Person was known to  have been travelling as an occupant, it shall be deemed after twelve (12) months, subject to all other terms and conditions of this Policy, that such Insured Person shall have died as the result of  an Accident. If at any time, after the payment of a benefit under this Section, it is discovered that an Insured Person is still alive, all payments shall be reimbursed in full to the Company. 

2. Exposure: Death as a direct result of exposure to the elements shall be deemed to be Bodily Injury. 

2. Personal Accidental Death Cover on MoneyBack Debit Card/ Millennia debit card:

Please refer to Debit Card T&Cs.

https://www.hdfcbank.com/personal/pay/cards/debit-cards/debit-card-terms-and-conditions 

3. Zero Liability on fraudulent Point of Sale usage on lost and stolen cards. Cardholder will receive the credit, with a hold marked for the disputed amount within 5 days of the  submission of the required documents, ie,

Please refer to the T&Cs under Debit Card

https://www.hdfcbank.com/personal/pay/cards/debit-cards/zero-liability 

4. Personal Accidental Death Cover on Salary Family Account – Covers accidental death resulting within 12 months from bodily injury due to accident only.

Eligibility: Cover provided only to the primary account holder.

  • On the event date, the primary account holder Is aged less than 70 years Is holding a Salary Family Account by virtue of his/her  relationship with the salary account holder and such salary account is a zero balance account and has received salary credit in HDFC Bank Salary Account in prior 3 months 
  • Should have carried  out at least one purchase transaction using the debit card linked to family account, within 6 months prior to the date of loss In case of Air Accidental Death claim ticket should have been  purchased using Debit Card linked to Salary Family Account
  • In the event of death of the account holder, the beneficiary to inform the insurance company (through the bank) within 90 days of death and all supporting documents related to the claim needs to be submitted to the insurance company within 180 days from the date of death 

5. The lounge benefit on debit cards will undergo a change effective January 1,2024. 

Effective January 1,2024, customers can continue to enjoy complimentary airport lounge access per quarter on their HDFC Bank Debit Card, only if  they spend Rs.5000 or more in the previous calendar quarter. 

For instance, if they spend Rs.5000 or more using their HDFC Bank Debit Card from October 2023 -December 2023,they can enjoy complimentary airport lounge access from January 2024 to March 2024 and as on

6. Premium Banking Programmes – Entry into the programmes is at the sole discretion of the Bank. HDFC Bank reserves the right to change the benefits/services offered as part of the  programme. 

7. Loans – Conditions Apply.  

Final credit approval at the sole discretion of HDFC Bank Ltd. Loans. 

* - conditions apply 

** - Top 6 cities - Transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad ATMs  For Fees & Charges – Please visit our website “www.hdfcbank.com”

Annexure I 

Below are the exclusions for Personal Accidental Death Cover and Disability Cover 

Particular Exclusions in personal accidental insurance cover & Disability Cover
General Exclusion clause on war Damage directly or indirectly occasioned by or happening through or in consequence of war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, Rebellion, revolution, insurrection, military or usurped power, confiscation, nationalization, civil commotion or loot or pillage in connection herewith
Deliberate Exposure to
Dangerous Activities		 Bodily Injury or Sickness due to willful or deliberate exposure to dangerous activities (except in an attempt to save human life), intentional self-inflicted injury, suicide or attempt thereat, or arising out of non-adherence to medical advice
Under influence of Alcohol. Bodily Injury or Sickness sustained or suffered whilst the Insured Person is or as a result of the Insured Person being under the influence of alcohol or drugs or narcotics unless professionally administered by a Physician or unless professionally prescribed by and taken in accordance with the directions of a Physician.
Criminal Act Bodily Injury sustained whilst or as a result of participating in any criminal act.
Gradually Operating Cause Bodily Injury due to a gradually operating cause.
Sports Bodily Injury sustained whilst or as a result of participating in any sport as a professional player.
Intentionally Provoking Bodily Injury or Sickness caused or provoked intentionally by the Insured Person.
Participation in competition Bodily Injury sustained whilst or as a result of participating in any competition involving the utilization of a motorized land, water or air vehicle.
Hazardous Sports Bodily Injury sustained whilst or as a result of active participation in any hazardous sport such as parachuting, hangliding, parasailing, off-piste skiing or bungee jumping.
Travel other than the fare paying route Bodily Injury whilst the Insured Person is travelling by air other than as a fare paying passenger on an aircraft registered to an airline company for the transport of paying passengers on regular and published scheduled routes.
Pregnancy Within 26 weeks Bodily Injury or Sickness resulting from pregnancy within twenty-six (26) weeks of the expected date of birth.
AIDS/HIV Bodily Injury or Sickness caused by or arising from the conditions commonly known as Acquired Immunodeficiency Syndrome (AIDS) or Human Immunodeficiency Virus (HIV) and/or any related illness or condition including derivatives or variations thereof howsoever acquired or caused. The onus shall always be upon the Insured Person to show that Bodily Injury or Sickness was not caused by or did not arise through AIDS or HIV.
Venereal Disease Bodily Injury or Sickness caused by or arising from or due to venereal or venereal related disease.