There is no uniform regulation on the rate of accidental injury insurance for borrowers. In the industry, life insurance companies that operate accidental injury insurance for borrowers generally set the product rate between 0.2% and 0.3%. This kind of insurance needs to be purchased every year, and the minimum amount is 2% of the loan amount.
The compensation standard for borrowing accident insurance is that if the insured suffers from an accident, and within 180 days (including 180 days) from the date of the accident, the company will pay the accident disability insurance according to the proportion shown in the table. "
It can be seen that the insurance liability of borrowing accident insurance fully conforms to the definition of life insurance in the Insurance Law, and the products shown in its name belong to "personal accident insurance", so borrowing accident insurance is life insurance.
Extended data:
Insurance liability Article 4 If the insured suffers accidental injury during the insurance period, resulting in death or disability, the insurer shall pay the insurance money according to the following agreement:
(1) Accidental death During the insurance period, if the insured suffers an accidental injury accident and dies within 180 days from the date of the accident, the insurer shall pay the death insurance money according to the insurance amount specified in the insurance policy, and the insurance liability for the insured shall be terminated.
If the insured suffers an accidental injury accident and his whereabouts are unknown from the date of the accident, and he is later declared dead by the people's court, the insurer shall pay the death insurance money according to the insured amount.
However, if the insured returns after being declared dead, the beneficiary shall return the insurance money paid by the insurer within 30 days from the date when he knew or should have known that the insured was alive. If the insured has received the insurance money in Item (2) of this article before his death, the death insurance money shall be the balance after deducting the insurance money already paid. ?
(2) Accidental Disability If the insured suffers from an accidental injury and causes one of the disability degrees listed in the Table of Proportion of Accidental Injury, Disability and Insurance Payment (hereinafter referred to as the Payment Table) within 180 days from the date of the accident, the insurer shall pay the disability insurance money by multiplying the payment ratio listed in the table by the insurance amount contained in the insurance policy.
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