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What Is Personal Accident Insurance? Why You Should Have It?


Most people wonder what is the need of accident insurance when they already have themselves covered under health insurance. Most individuals are unaware that an insurance named- personal insurance even exists. If you are one of those people, then we are here to help you.

Accidental insurance policies are crucial and cheaper, yet there are very few people who are aware of what exactly those policies are. Read on to find out what is personal accident insurance, what does it cover, why should you buy a personal accident insurance and where to buy it?

Personal Accident Insurance


What Is Personal Accident Insurance?

Personal accident policies provides cover to the policy holder, against death and disabilities due to accidents. These schemes offer financial support to the policy holder and his family in case of loss of income and medical expenses resulting from an accident. While most of the policies depend on policy holder’s age, personal accident insurance is decided by the occupation of the person as well as the amount of risk involved in that occupation.

Why You Should Buy Accident Insurance?

Personal insurance is equally important, as health insurance, life insurance and car insurance among others. If you don’t have an accident policy yet, make sure you get one soon as it is the policy which will provide you and your family, a cushion against  death or disability due to an accident.

What Does Personal Accident Insurance Cover?

Accident insurance usually covers accidental death, dismemberment, disability (permanent, total, partial), medical expenses, burns, broken bones, daily allowance and child education support. The range of benefits covered and the premium to be paid, will differ from company to company.

Where To Buy?

There are numerous insurance agents who sell accident policies. Besides, banks and PSU insurance companies also offer accident insurances. You can also avail these policies online. Before buying a personal insurance, it is advisable to do some research. Make sure you do your homework by checking out with different policy providers, determine and compare the price and benefits, understand term and conditions, before you buy an accident insurance.

Also Read: Tax Benefits Of Health Insurance


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