Accidents occur without any warning and can become a nightmare for your family. It affects a family in many ways, especially financially if the only earning member of the family gets disabled. In such situations, personal accident insurance can become the only life-saver. It is offered in two different types – group personal accident insurance and individual personal accident insurance.
Let us have a look at some advantages of having health insurance covering accident expenses.
An accident may result in a temporary or permanent disability. If you have personal accident insurance, you can claim compensation for any kind of disability caused due to an accident. The insurance company will also compensate for any kind of loss incurred due to such an accident.
Hospitalization and other expenses
When an accident occurs and there is a need for hospitalization, the insurance company will provide all the expenses incurred for hospitalization and other medical care. Your personal accident insurance also covers other miscellaneous expenses such as repatriation charges, ambulance charges, funeral expenses in case of the death of the policyholder, and likewise.
Expenses covering home alteration and vehicle modification
The aftermath of an accident may cause some disability that may compel you to take support for the rest of your life. You may need a wheelchair. Also, to continue your daily activities, you will need a vehicle with suitable modifications for your comfort. All these expenses will be covered under your personal accident insurance plan. Furthermore, your health insurance will also provide expenses required to carry out alterations in your room such as installing ramps.
In case an accident results in the death of a policyholder, the personal accident insurance policy will compensate his or her family. Moreover, if the policyholder has any child, the health insurance company will provide funds for his education. It may be 10% of the total sum insured or the tuition fee charged by the institution, whichever is lower. The insurance company may also pay the entire sum insured to the family members.
If the accident takes place in a different city and the family of the policyholder has to travel to that city, the insurance company will cover all such travel expenses. Your personal accident insurance covers all the transportation costs required to reach the accident spot or the hospital.
Apart from these, mentioned below are some other advantages of personal accident insurance.
Minimum documents required
Accident insurance requires very little paperwork with minimal documentation. You just have to provide all the basic details mentioned in your application form and you can get the insurance.
No need to undergo medical tests
Unlike in other health insurance plans, you do not have to undergo any medical tests while applying for personal accident insurance.
While other health insurance plans have a geographical limitation, personal accident insurance does not contain any such limitation. Here, you can claim the benefit irrespective of the place of occurrence of the accident, that is it provides worldwide coverage.
Easy claim procedure
Accident insurance comes with an easy claim process. Irrespective of the type of policy, you just have to submit an application to the insurer for claiming the benefits. The insurer will verify your claim before paying you.
Personal accident insurance will provide your family with financial security in case of an accident. Even if death occurs, it will provide 100% compensation to your family thus, you can have that peace of mind that your family will be financially stable even after your demise.
Bajaj Finserv’s personal accident insurance policy covers accidental death, temporary or permanent total disability, permanent partial disability, and hospitalization expenses. Under this plan, you are entitled to receive a daily allowance of Rs 1000 for a period of up to 30 days of hospitalization. You will receive 40% of the total claim amount or medical bills, whichever is lesser, as compensation for medical expenses.
Many accident health insurance plans come with a total permanent handicap benefit. In other words, in case an accident leaves you incapacitated for life to earn income, then your nominee will receive 100% of the sum assured. Bajaj Finserv’s personal accident
31 Replies to “Personal Accident Insurance: Why Is It Important?”
buy cialis for sale purchase cialis for sale top rated ed pills
cost cefadroxil 500mg buy lamivudine generic finasteride over the counter
buy estradiol generic estradiol 1mg sale buy minipress pills
buy diflucan 200mg for sale diflucan 200mg usa cipro 1000mg cheap
buy mebendazole online cheap order tretinoin generic order tadalafil 10mg sale
brand metronidazole 200mg cephalexin 500mg brand cephalexin 250mg tablet
order cleocin 150mg online cheap sildenafil without prescription fildena 100mg price
indocin cost terbinafine online buy suprax 200mg cheap
tamoxifen 10mg for sale order ceftin 500mg sale cefuroxime 250mg pill
generic amoxicillin 250mg amoxicillin without prescription clarithromycin usa
order catapres generic buy catapres 0.1mg pill buy tiotropium bromide online
purchase careprost pill desyrel 100mg sale order desyrel generic
order minocycline sale minocycline 100mg tablet purchase pioglitazone online cheap
buy generic sildenafil 50mg buy suhagra no prescription buy sildalis online cheap
isotretinoin 20mg brand cheap isotretinoin buy zithromax 500mg generic
arava 10mg tablet cost sulfasalazine cheap sulfasalazine 500mg
buy tadalafil 5mg sale tadalafil online buy cialis 20mg pills
buy generic azipro over the counter buy azipro 500mg generic buy gabapentin 100mg online cheap
order lasix 100mg sale albuterol cost albuterol online order
levitra cost vardenafil 10mg usa order hydroxychloroquine online
ramipril 10mg for sale glimepiride 4mg generic order generic etoricoxib
levitra without prescription buy tizanidine 2mg online cheap hydroxychloroquine 200mg oral
buy mesalamine 800mg generic azelastine price irbesartan buy online
buy olmesartan 10mg pills buy depakote generic buy depakote 500mg for sale
buy clobetasol generic temovate sale buy cordarone pill
buy coreg cheap brand aralen 250mg buy aralen generic
acetazolamide pill purchase acetazolamide pill azathioprine 25mg usa
buy digoxin 250mg generic order telmisartan 20mg sale buy generic molnupiravir over the counter
buy naproxen 500mg pills naproxen 500mg brand order lansoprazole generic
cheap norvasc 10mg purchase norvasc pills oral prilosec
buy adalat for sale purchase perindopril generic buy allegra 180mg sale