What should you know about personal accident insurance?

Living in today’s unstoppable world comes with its ups and downs. The unpredictable and sudden events may lead your loved ones and you in situations that none of us want toexperience. Thus, ensuring your family’s happiness and financial safety is important. A personal accident insurance policy ensures you and your family receive adequate financial help during such trying times.

As much as buying personal insurance is important, knowing more about personal accident insurance will help you buy the right policyfor you.

What the policy cover?

Personal accident policies covertemporary, partial, or permanent disability and death due to the accident. The personal accidental policy also covers the medical expenses needed for the treatment of accidental injuries. Having personal insurance for the accidentwill take care of the expenses during the time of your need.

How much coverage is enough?

Although the coverage amount depends on your regular expenses and lifestyle, you should get the policy that ensures coverage at least 8-10 times your annual salary. This number is suggested by the financial experts and is enough to cover medical costs and hospital expenses along with the other liabilities you have at the time. However, the more coverage amount you can fix, the better.

Personal insurance benefits

  • No Medical Check-ups needed for personal accident policies
  • High coverage at a lower amount of premiums
  • Double indemnity of death and disability cover including the compensation for personal injury while traveling through public transport
  • Provides life support benefits
  • It provides child education benefits in case of the insurance holder’s accidental death.
  • Personal accident insurance offers flexible plans wherein you can buy the policy either for yourself or to financially safeguard your family.
  • Personal accident policies safeguard your returns against the growing healthcare costs and rate of inflation to cover your hospital costs and other expenses. So, you or your family won’t have to worry about the expenses in a difficult time.

An accident can lead to terrifying and uncertain events in one’s life. And the situations become worse and trying especially if you are the sole bread earner. Having a personal accident policy in place will help you protect against the financial burden and debts and help your family meet the daily needs whilst you focus on getting better.

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