What Is An Accident Insurance Policy And How It Benefits You? Here’s Everything You Need To Know

 

Prevention is better than cure, but sometimes mishaps happen and no one person can be blamed for it. These are the times when you feel helpless and troubled. However, having a personal accident insurance policy can help during such times.

 

A personal accident insurance policy provides a lump sum compensation in case one suffers from a fatal accident, or if an accident leaves you disabled permanently. But it is not all that these accident policies have to offer. There’s more to it than meets the eyes. Read on to know more about how having a coverage of a personal accident insurance policy will benefit you.

Accident Insurance 

 Benefits of Personal Accident Insurance Policy

Here is a quick look at the coverage you can expect.

●     In case of the policy holder’s death, the beneficiaries will receive a financial aid, which will be discussed at the time of availing the policy.

 

●     If the policyholder is permanently disabled due to an accident after taking the policy, he or she will avail lump sum financial aid as decided at the time of taking the policy. Apart from this, the insurance policyholder will also get some grants to sustain their day-to-day life.

 

●     In the case of temporary disablement, the holder of the individual accident policy will get a certain amount of the insurance policy as compensation.

 

●     Apart from these benefits, expenses like ambulance cost, cremation cost, transportation expenses are reimbursed to the nominee. 

Additional benefits

 

●     In case the policyholder gets burned due to a fire hazard, they will receive a certain percentage of the policy amount.

 

●     A policyholder can avail benefits if they happen to get injured in a terrorist attack.

 

●     A fixed amount is also paid to the policyholder to cover their medical cost and hospital bills. 

 

 

Accident Insurance Policy Exceptions

 

However, there are some exclusions to the accident insurance policy that one needs to keep in mind. It means that the policyholder will not avail any benefits if they meet with an accident under the following conditions:

 

●     If a person is hurt before taking the insurance policy or is disabled before purchasing the policy, they will not be able to enjoy any benefits of the policy.

 

●     The insurance policy will not cover illnesses or health problems that are related to or caused by childbirth and pregnancy.

 

●     The insurance policy will also not provide coverage for illnesses and deaths that are caused due to self-harm, suicide, and intoxication.

 

●     The insurance policy will not provide coverage to a person who has been involved in a criminal act. This means that a criminal will not enjoy any benefits even if he is insured.

 

 

 

Insurance policies are the best way to get a sense of security and, thus, are highly recommended. We hope that you find this article informational and helpful. Please go through all the terms are conditions of your individual or family medical policy before signing up.