It’s always advisable to be safe rather than sorry. This is particularly true as you can never predict if you would face any kind of an accident in your life. Even if you take all the precautions and are safe all the time, there are chances that some accident may befall you. You might ask, “is there a way I can protect myself in case of an accident?” The answer to this question is Personal Accident Insurance, which is a type of health insurance. Read on to know more about this cover!
What is Personal Accident Insurance?
With personal accident insurance, you are financially protected in case of any accidental injury, disability, or death due to an accident. The treatment for injury is not only expensive but sometimes these injuries might leave you temporarily out of action or even permanently disabled which could affect your future earning ability. This is why it is important to get a personal accident insurance policy that can at least help reduce the financial sting of such traumatic situations.
Types of Personal Accident Insurance
Group Personal Accident Insurance:- This type of personal accident insurance is generally taken by business owners or employers as the insurance company provides discounts depending upon the nature of the organization and the size. This also acts as an incentive for employees to work for the organization.
Individual Personal Accident Insurance:- Individual personal accident insurance is taken by individuals to protect themselves against financial damages due to any accidents. This
Benefits of Personal Accident Insurance
1. Stress-free and security
Getting personal accident insurance ensures that you and your family are taken care of in case of an occurrence of an accident in the future. The insurance company is liable to pay 100% of the compensation to your family in case of accidental death. This insurance helps in providing you with financial security so that you can have peace of mind.
2. No pre-medical checks
When you buy a health insurance policy, you need to undergo a pre-medical check-up that assesses your health condition. Based on the results of this check, the premium amount that is payable is decided. When you opt to get personal accident insurance, no such check happens.
3. Easy claim process
The process of filing for a claim under personal accident insurance is easy and not cumbersome at all. You will have to file a claim with your insurance provider along with the required documentation and you will receive the claim amount. You can do this both online and offline.
4. Worldwide coverage
Most of the existing health insurance has a geographical limitation on the coverage. This means that you will not be compensated if you file a claim for something that happens outside India. But in personal accident insurance, this geographical limitation does not exist. This means that even if the accident happens outside India you will be eligible to file a claim and get compensated.
It is important to think and plan for your future as well as your family’s future in case any accident occurs. With personal accident insurance, you can be prepared for any accidental death or permanent disability and ensure that your family is taken care of. But you should be aware of the inclusion and exclusion as well as the terms of the policy before you sign the policy documents.
To know more about personal accident insurance, click here!
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