Why you Should Choose a Personal Accident Insurance Policy?

Personal accident insurance policy has a number of advantages. Accidents are like unforeseen calamities and when they happen, not only does it cause distress and trauma, but it also adds to the financial burden of the family. Accidents can result in death, or in partial or complete disability. In case one has insurance, all these contingencies are covered. The insurance company pays for the disability, or in case of death, the amount is paid to the family members. The cover takes care of the expenditure that arises with the treatment. Accident insurance is different from a health insurance.

In fact, personal accident insurance cover premium are also extremely low compared to most health insurance plans. It is however, advisable to get a cover at least ten times the amount of one’s salary because in case an accident occurs, this is going to act as your source of income while one is in bed. One can get a cover of up to Rs 30 lakhs online and even higher when it is bought through insurers like Bajaj Finserv. It is also advisable to opt for this cover separately rather than getting it as an add- on cover because the latter would not has as many benefits or renewal options as a standalone cover, which has lifelong renewability.

These insurance covers are pocket friendly and those who drive or travel by public transport on a daily basis must opt for this cover. Claims are also easier and one does not have to go through any separate tests to make the claim. Informing the insurance agency on time and providing the doctor’s assessment, along with the location of the accident and a copy of the FIR, if any has to be provided for the money to be disbursed.

Additional Read: Personal Accident Insurance; Why Do You Need It?

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