Insurance Savvy
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Personal Accident Insurance – Protect You and Your Family!
Accidents can happen anywhere, to anyone!
Contrary to popular belief, accidents can occur not only on roads but also at home, while travelling or in the office. While we are all aware of the physical, mental and emotional impact of an accident, it can also leave a person drained financially.
While on the one hand the hospitalization/medical treatment expense needs to be met, on the other hand income is disrupted during the period of recuperation. Not all are however fortunate enough to recover completely from an accident and continue with their lives as in their previous condition. A lot of people go through partial or total disablement, which might permanently hamper the chances of their getting back to active employment.
This is the reason a Personal Accident Insurance Policy is important.
A Personal Accident Insurance policy covers any bodily injury that is caused due to an accident. This policy covers an individual against the following contingencies:
- Death
- Permanent Total Disability
- Permanent Partial Disability
Above all this policy has a worldwide cover. Any person aged between 5 to 70 years can take this policy. However, the age of the proposer should be between 18 and 70 years. Most insurers offer a family discount of 10%, if the person buys this policy for more than 3 family members.
Most companies also offer a no claim benefit. If you purchase the policy today, and after one year at the time of renewal if you have not made any claim, your major benefit levels (accidental death and accidental disability) will be increased by 5 per cent. This benefit will apply for each consecutive claims-free year, up to five years.
Exceptions to this policy…
There are certain instances which are not covered by this policy. For instance, suicide, self-inflicted injury, pregnancy or childbirth, pre-existing physical or mental defects and infections are not covered. Also, people working under/exposing themselves to various dangerous situations and sports aren't covered.
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