When working in the kitchen or when driving on the roads, it is possible to succumb to an injury. The result of such a situation is a heavy medical expenses or repair costs. That's why it is important to have a personal accident insurance policy. The policy will pay out in the event of a personal accident so that you can meet expenses and bring them down. The policy will not just pay out for minor incidents, but also in the case of serious situations that causes loss of life or permanent disability.
Why do you need personal accident cover?
A good personal accident insurance India policy will give a wide range of coverage which protects you against different types of accident situations. When you have two small dependent children this policy can come to your aid like nothing else. Imagine a small burn happening when using a home appliance, else a situation where you had to be hospitalized due to injury in a road accident. What will you do under such circumstances? You need to liquidate assets to pay for heavy hospital expenses or ask relatives for help. Personal accident policy saves you the trouble of doing this by paying for medical expenses else giving a lump sum in case of a serious situation.
Is it expensive and how to get it?
Personal accident cover is not expensive. There are many types of plans available from which you can select one that is suitable for your needs. There is no need to undergo any medical tests to avail the policy and neither do you have to submit any extensive documentation. Application for this policy can be easily done online.
There are so many different types of coverage offered personal accident insurance, thus giving all round protection and coming to aid when your life is affected by complex situations. Some important benefits that it offers are:
- Daily cash for the hospital
- Payment for legal expenses
- Payment for permanent or partial disability, temporary disability
- Education grant
- Payment for loss of life
- Gives double the amount if there is permanent disability or loss of life while traveling a public transport system
- Payment for loss arising from acts of terrorism
The coverage offered by personal accident policy is available not just when you reside in India but also when you go abroad. The policy can be taken as an independent one or a part of health insurance. It offers coverage for you, your spouse and two dependent children. Coverage is applicable only for one year, after which the policy has to be renewed. Renewal can be done online and continuous renewal entitles you to a discount through no claim bonus.
Kirti Saxena is a web enthusiast and a writer for different areas including insurance and banking and numerous other sectors. For more information visit: Personal Accident Insurance India and Personal Accident Policy .