THE IMPORTANCE OF PERSONAL ACCIDENT INSURANCE POLICY

WHY IS PERSONAL ACCIDENT INSURANCE SO IMPORTANT?

Everybody is definitely aware about health insurance and life insurance. However, personal accident insurance has not become popular off late.

The personal accident insurance policy covers the policyholder against death or disability caused by accident. Normally all the general insurance companies offer these policies but may not be interested in selling them to you; it has not gained prominence as the agents get a small commission on selling these low prized policies.

WHO NEED PERSONAL ACCIDENT INSURANCE?

There is no exception to personal accident insurance; it is necessary for everybody. However, it is more important for the salary of people living in urban places, keeping in view the fact that they travel more from their houses to their offices and vice versa, on a regular basis. As such, they are more likely to meet with accidents than falling ill.

WHAT IS THE NEED FOR PERSONAL ACCIDENT INSURANCE POLICY?

If anyone is physically disabled due to some accident, the challenges of meeting an accident would be very dangerous; it is where the life insurance comes into picture by way of helping the dependents only if there is the death of their beloved one. In addition to this, the policy will cover just hospitalization expenses to do away these circumstances; one has to buy personal accident insurance.

MAJOR REASONS WHY YOU NEED PERSONAL ACCIDENT INSURANCE POLICY :

DISABILITIES COVERED: Many disabilities may result due to an accident, for which the policyholder can claim compensation; for example, if an individual’s hearing capacity is impaired or vision is lost, he can put up a claim to make good the loss suffered. Also, these type of policies covers loss of speech, hearing, and eyesight.

MAJOR EXPENSES SORTED INCLUDING HOSPITILISATION:

In addition to hospital bills and medical treatment, the personal accident insurance policy covers other expenses like ambulance charges, repatriation charges, and funeral expenses at the event of death.

FAMILY TRANSPORTATION:

If the insured is hospitalized more than 150 km from his residence, his family members will find it difficult to reach him in such circumstances the insurer will provide a refund of transportation expenses.