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Family Cover and death coverage
Most of the companies gives the best accident insurance personal insurance policy for the entire family so that the spouse and the children can also get the desired o. In case of the death of the life insured, 100% of the sum assured is given to the nominee of the insured person.
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Here's Why You Need To Get a Personal Accident Insurance Policy
What does a personal accident insurance policy cover? Although there are numerous accident insurance policies offered by a plethora of private companies, most of them would provide your dependents – wife/husband and children – 100% of the sum insured in the event of your demise due to an accident. If you are permanently or even temporarily disabled due to a personal injury caused by an accident, a portion of the sum insured will be given to you. Benefits of Accident Insurance There are different benefits of purchasing a personal accident insurance policy. The most important ones are highlighted below: Accidental death : If the policy holder dies in an accident, the nominee is liable to get 100% of the sum insured from the insurance company. Permanent total disability : If the policy holder has a personal injury that leaves them partially disabled from an accident, they can get up to a 100% of the sum insured. Permanent partial disability : If the policy holder dies in an accident, the nominee is liable to get 100% of the sum insured from the insurance company. Temporary total disability : If the policyholder is left temporary disabled from an accident, they can get up to a 100% of the sum insured. This can happen if, say, the policy holder gets a fracture that demands him or her to convalescence at home. The personal accident insurance policy can provide a sum that covers the medical expenses and the loss of earnings. Personal Accident Insurance vs. Health Insurance Health insurance only covers the medical cost associated with an injury but fails to account the potential loss of earnings arising out of hospitalization and recuperating from injuries at home. Moreover, no medical checkups are required with a personal accident insurance policy and there is no waiting period for this type of insurance. Insurance companies don’t usually advertise about personal accident insurance policies since the premiums are low. However, an accident insurance policy should be a part of your insurance portfolio.