Why Should you Consider Getting Personal Accident Health Insurance?

Driving on the Indian roads is becoming harder. Though the traffic police and the government have been doing a lot, the road conditions are still hard to improve. Also, the chances of getting into an accident are increasing with rising traffic. No matter how many precautions you take or how safe you drive, you might get into an accident. The word accident does not necessarily mean a big unfortunate event. It simply means an unintentional and tragic incident that may result in damage or injury.

Having a personal accident cover in these times gives you peace of mind. You can enjoy financial stability and leave everything on your insurance to cover the expenses of the injury or damage in the accident. Accidents can sometimes be fatal, and while most of the time, you can cover the damage, sometimes, they go well beyond your reach. In an accident, not only is the car damaged, but there are significant injuries to the person, and it can even lead to death. It can show the person to be bedridden for months. Personal accident insurance can cover income loss and provide a safe recovery space.

What are the benefits of a personal accident insurance - Finserv MARKETS

The top reasons to get personal accident insurance are:

Death Cover: The policy covers the family in the unfortunate event of death. The full sum insured is given to the family if the person dies during a road accident. Standard health insurance does not provide this critical support. In the case of young children, the insurer takes care of their education. For education, the insurer pays 10% of the sum insured or the institution’s fee, whichever is lower.

Disabilities: Accidents can sometimes lead to permanent or temporary disabilities. All the disabilities are covered in the policy and have different terms and conditions. The policyholder can file a claim and get compensation for the insurance. People can lose their hands, eyes, and hearing ability. Many things can happen in an accident, and they can file a claim for the same.

Income Support: In cases where the person cannot go to work due to the accident, accident insurance will cover the income loss. The person won’t get their salary once their paid leaves are exhausted. You will get a fixed compensation from the insurance side as a recovery for the income loss.

Hospitalization: Often, you may have to stay in the hospital for months to recover from the injuries. In these cases, the medical bills of the hospital can go soaring high. The insurance company covers all the hospitalization costs up to the sum insured. They will cover even the expenses of ambulance costs and other small costs that may occur.

Loan Benefit: If you have a loan to your name, it is in the middle of the tenure when you get into an accident. The loan burden will fall on your family in case of a serious accident. This is where the insurance will come into play and provide vital support to the family by helping with the principal amount to be paid. Compare health insurance plans with personal accident cover and get one now.