Personal Accident Insurance Policy
There has been a rise in the number of fatal accidents leading to death or disability that are occurring in India in recent years. A personal accident insurance policy though not preventing the accident from taking place provides a soft cushion for the insured. This is because it provides benefits in case of partial and total disability, as well as death benefits. It also caters for ambulance and hospitalization costs and repair costs for damaged property and vehicles.
The best personal accident insurance policy protects you and your loved ones from various types of accidents such as:
• Road accident
• Rail accident
• Aircraft accidents
• Mutilation and impairment due to burns among other situations.
As per terms of the policy, it protects your family from any uncertainties that may arise by providing compensation in case of death or short-term impairment that may limit income generation.
Key personal accident insurance plan features
1. An online personal accident insurance policy is easy to purchase and with the vast options available one can find a policy that is affordable.
2. A personal accident insurance policy protects a policyholder and their partner from the financial concerns that occur due to sudden death and income loss such as loss of income and medicinal expenses that sudden accidents lead to.
3. Online personal accident insurance policy comparison is stress-free as insurance agent bias does not mislead you into the purchase of an insurance scheme that you do not require.
4. Personal accident insurance quotes are available online with minimal hassle in a convenient manner away from agents
5. Personal insurance plans can cover either an individual or a family depending on the option desired. A family covered under one plan provides for the most cost-saving among other benefits.
6. As you consider a personal insurance plan, compare personal accident insurance plans available for your family; consider the age limits provided by the insurer. Although there isn’t minimum entry age most insurers consider the maximum entry age.
7. Online personal accident insurance comparison also allows you to compare the sum assured by the various insurance companies available. A higher sum assured is always preferable but this should be considered against the premiums that you can comfortably pay without fail.
8. Accidental death benefits that an insurance company provides can be acquired by placing a request for a personal accident insurance quote. These benefits are calculated as the value of the sum assured plus the bonuses with the highest bonus provider being the better option.
9. The best personal accident insurance plan provides for permanent and temporary disability benefits. The more the options provided on disability factors the better as chances of losing out on your claim are reduced.
10. A good insurance plan caters for the medical and ambulance expenses incurred in cases of an accident. This mostly takes place at the nearest medical facility which may not be covered by a health insurance provider.
Compare personal accident insurance providers for bonuses such as medical cover for dependent children involved in an accident. Ensure the benefits provided are of value to you and your dependents
How to claim?
You can make a claim under a Health insurance policy in two ways:
1. Cashless basis
2. Reimbursement basis
What are the benefits of personal accident insurance?
• Cheap premium rates: For a general insurance personal accident plan, the premium rates are low. So you can easily afford the insurance plan.
• No age limit: The best general insurance personal accident plan does not have any age limit. The rates of the premium are the same for all ages.
• Premium depends on job nature: In the insurance companies certified by IRDA, the premium for accident insurance is decided by your job, income and other conditions.
• Covers your family: Under a single personal accident insurance, you can include your family and children too. So this option can benefit your entire family and cover them during accidents.
• Accidental Death benefit: The general insurance personal accident quote also gives compensation in case of death caused by accidents. This makes your family financially secure.
• Accidental disability benefit: You may suffer a permanent or partial loss of body parts after an accident. The policy also covers such losses for you.
• General benefits: General insurance personal accident plan also covers educational expenses and home allowances. It includes funeral expenses, hospital charges and ambulance charges.
• Transportation benefit: Some insurance companies take care of the transportation benefits too. This helps you and your family members to reach the hospital under the insurance coverage itself.