Accidental Health Plan To Protect You Against Unusual Incidents

What is a personal accident insurance policy?

Personal accident insurance is a type of insurance policy that provides coverage during major accidents that may lead to loss of life, permanent or temporary disability or hospitalization. If the insured dies in an accident, then the nominee gets 100% compensation from the insurer.

Accidents can occur at any time. It can happen while commuting to work, or when you’re simply running errands. Having personal accident insurance gives you a sense of assurance that if something untoward occurs or if you become a victim of an accident, you could rely on the insurance policy.

In India, reports suggest that more than 1200 accidents happen every day. This number is both alarming and concerning. It only establishes the fact that a Personal Accident Policy is vital for all. 

What factors decide the premium of Personal Accident Plan?

Different policies take different factors into account to determine the premium amount. Some of the critical factors include:

The insurance company usually review the income, health condition, age, lifestyle, while deciding the premium.

Additionally, risk exposure, employment and the chances of the individual meeting with an accident are taken into account here. The income and age group is not emphasised as much as it gets emphasised in a health or a life insurance policy.

What are the benefits of Personal Accident Insurance Policy?

Accidental Death Coverage –

If the insured dies an untimely death because of the accident, then the nominee will get the benefit for financial security.

Permanent Total Disability Cover –

If the accident leads to the total disability of the insured, then he/she will get a benefit payout from the insurance company.

Permanent Partial Disability Cover –

If the accident leads to partial disability of the insured making him/her not to be able to earn a regular income, the insurance company will offer the insured a payout.

Temporary Total Disability Cover –

Temporary disability implies that the insured cannot be mobile for a while but can eventually be cured with medicines. This means that even if the accident makes the insured temporarily disabled the insured will still be eligible for a payout.

Dismemberment Coverage –

If an accident happens that leads to the insured losing any body part, the insurance company will pay a specific ratio of the benefit.

Burn Coverage – 

This is mostly offered as extra coverage. If the insured dies or gets severely injured due to fire, suffers from chemical burns etc. then the treatment money is given to the policyholder.

Additional benefits of Personal Accident Insurance Plans:

Personal Accident Insurance plans offer some additional benefits too at a nominal fee. It is advisable that you include the features too:

Carrying the dead body –

If the insured passes away in the accident, the accidental health plan pays for the transportation of the dead body to the home. It also includes the funeral charges.

Education grant –

If the insured passes away because of the accident, then the tuition fee of the insured’s children will be given by the insurer.

Ambulance charges –

This is an important coverage, in the event of an accident, the accidental insurance plan pays for the transportation of the injured to the hospital.

So, if you are the only breadwinner in your family or feel that you are exposed to the hazardous and dangerous situation every day. You must get this policy.

Read more about the features and benefits of personal accident insurance plan online