THE IMPORTANCE OF A PERSONAL ACCIDENT INSURANCE POLICY.
The importance of a personal accident insurance policy cannot be overstated. Accidents can occur at any time, and they can have serious consequences. Whether it’s a road accident or an accident at work due to unsafe infrastructure, the impact can be both physical and financial.
While most people are familiar with the need for life insurance to cover the risk of death and health insurance to handle medical expenses, personal accident insurance often goes overlooked. Personal accident insurance is designed to provide coverage in the event of an accident that results in death or disability. This coverage is offered by all general insurance companies and is a crucial addition to your insurance portfolio.
Here are some key reasons why you should consider purchasing a personal accident insurance policy:
Financial Support for Disability
A personal accident policy offers financial support to the policyholder if they become disabled as a result of an This support can be crucial in helping the individual and their family cope with the financial impact of the disability.
Coverage for Various Accidents
Personal accident insurance covers a wide range of accidents, regardless of their Even minor accidents like falling off a bicycle and breaking an arm or fracturing a leg while playing football are covered by the policy.
ACCIDENTAL INSURANCE COVERAGE
Permanent/Total Disability Cover
If an accident leads to permanent disabilities or lifelong total impairment, such as the loss of both limbs, the policyholder receives a specified sum insured amount.
Permanent Partial Disability Cover
In cases of permanent partial disabilities resulting from bodily injuries, a certain percentage (up to 100%) of the benefit is paid to the insured.
Temporary Total Disability
When the insured person experiences temporary total disabilities and is unable to work, the insurer provides a weekly allowance to compensate for the loss of income. This claim amount can also be used to cover expenses like loan EMIs if there is a loss of earnings.