5 Things You Need to Know About Personal Accident Insurance

People across the country should be duly educated about the benefits of having an insurance policy. The lack of knowledge leads to assumptions and fear, which is why we have listed the most important things you should know about a personal accident insurance policy.

To keep it simple, the insurance will cover various scenarios including death caused by accident, injury and medical expenses. It helps your family and safeguards them against mounting medical expenses during times of crisis.

Higher Disability Compensation

A loss of limb or the lack of motor skills to work again in an office can lead to long-term issues. Such disabilities will get you the highest compensation. Renowned lending companies offer 125% of the sum insured for such cases.

Hospitalization and Medical Expenses are Covered

If you ever meet with an accident, which we hope you don’t, you or a family member who is injured but covered by a policy can confidently get admitted in a hospital. With a vast range of network coverage, the personal accident insurance will cover all medical expenses, including room charges, doctor and medical fee, among others.

Higher Discount to Add Family Members

Companies offer medical insurance policies, and when you work somewhere, make sure to add your family members to get more discounts. They will also pay a considerable part of the insurance to protect your entire family.

Cumulative Bonus is Provided

When you don’t avail the medical insurance for an entire year, your investment is not wasted as a cumulative bonus is provided. It can range anywhere between 10% to 50% for claims that are not made.

It Covers Children’s Education

When you undergo treatment, your children’s education expenses might get delayed, which can also be covered in specific personal accident insurance policies. It helps ensure they continue studying even if you face long-term disabilities.

Read Also: 6 Exceptional Facts About Personal Accident Insurance

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