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Why get an Accident Insurance along with your Health Insurance Plan

07 August, 2017


Why do I need an accident insurance?

 

In order to ensure total health care protection for you and your family, it is essential to avail for a personal accident policy along with your health insurance plan. A comprehensive health insurance plan will provide financial cover for you and your family in case of hospitalization, and protect you from rising medical costs. It will provide financial cover for the insured for nearly all medical costs and post-treatment expenses, including vaccines and drugs. However, it often falls short to cover for loss of income due to personal accidents. There is a significant gap between medical and non-medical costs after an accident and that gap is usually not addressed by most health insurance policies.

 

How will it benefit me?

 

That is essentially why it is beneficial to get accident insurance which will take care of crisis situations that lead to disablement/death of the insured. Disablement or loss of sight, whether partial or total, can change one’s life completely. An individual and their loved ones are forced to recover and survive in severe situations that put a huge strain on one’s bank account. With an accident insurance policy in place, the insured receives total health care protection and financial security to ensure a stable and secure future.

 

Accident Insurance: An Overview

 

Ø  Accident: An “accident” can be defined as any unexpected external and visible event that causes bodily injury leading to permanent loss of facility, disablement or death of the person involved.

 

Ø  Accident Insurance Policy: An accident insurance policy is a benefit policy that provides a cover for the insured in the event of an accident, no matter if it’s at home or outside.


A personal accident policy provides more than death benefits and also compensates the insured for loss of income in case of permanent or temporary disablement either of total or partial damage. For partial loss, the compensation is determined by the extent of loss and should be read carefully under the terms and conditions of the policy.

 

Ø  Types of Accident Insurance Policies: You can avail an individual accident insurance policy or opt for a Family Package that covers the proposer, spouse and the children under one single policy. Every policy can be tailored according to your needs and requirement, as well as your paying capacity.

 

If you haven’t availed yet, you can still get yourself a personal accident insurance to complement your health insurance scheme. There are additional benefits and riders also available that vary from company to company. However, it is vital to read the insurance policy literature thoroughly to avoid discrepancies later. 

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