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 • Drowning • 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.
Types of accident insurance
There are two types of accident insurance cover • Personal Accident Insurance: This policy protects an individual policyholder and dependent in the event of an accident causing impairment or death. • Group Accident Insurance: As the term suggests, it is plan meant for employees of an organization.
Why buy insurance on InsureMile online platform?
1. Because enquiry about insurance quotes, buying of insurance and other transactions are simple, transparent and competitive on InsureMile platform. 2. Because InsureMile does not ask you for your phone number or email details, thus you are not harassed by unwanted calls or mail. 3. Because InsureMile will guide you, whenever you need any assistance.
The most important differentiator is InsureMile’s ‘Buy A Policy, Feed A Child’ mission For every policy you buy, InsureMile on your behalf contributes 10 meals to a child. You are thus becoming part of a Social Movement to eradicate hunger among children in India. There is no additional amount to be paid for the social cause. It is part of the premium. You can claim tax benefits for the donation you have made.
Protect unnecessary expenses with a personal accident insurance
What is a personal accident insurance? Accidents are unexpected and sometimes maybe fatal. In such cases, you will have to spend a lot to recover and come back to normal. That is why you will need a general insurance personal accident quote. A personal accident insurance is very different from life and health insurance. The general insurance personal accident plan covers you during a severe accident or physical illness. Life and health insurance cover only after your death or form medical expenses. Unlike that, the best general insurance personal accident plan will help you with expenses after an accident. You tend to go out every day and probabilities of meeting with an accident could be more. So an online general insurance personal accident plan is essential for unexpected situations.
Awareness about having insurance for personal accidents
In India, the awareness about this general insurance personal accident plan is low. This is because of the primary usage of life insurance and health insurance. This is categorized under general insurance by IRDA unlike the primary life and health insurance. You must know these things about personal accident insurance. • Only a personal accident insurance gives coverage against the accident-related expenses. Life and health insurance do no support this feature. • Accidents are highly unexpected. Such fatal risks can be compensated with the general insurance personal accident quote. • Most insurance companies have the compare general insurance personal accident plan for you to utilize. • This is as essential as the motor insurance you have for your vehicle. • However, injuries caused by wars, terror attacks and pre-existing disorders will not be covered by the policy. Injuries caused by the participation in adventures also will not be covered too.
Updated on Jan 25