No matter how we plan, certain things can happen unpredictably. You may be a very cautious cook or driver and still meet with an accident in the road. In such a situation, you will be faced with medical or repair cost which can be difficult to bear as they happen suddenly. If you have taken personal insurance cover, these costs will come down, enabling you and your family to cope with the situation.
What are the benefits offered by personal accident cover?
Personal accident plays out in the event of injury to the insured. It gives a lump sum in the event of loss of life or permanent disability to the insurer. It is easy to get a policy because you do not have to undergo any medical tests. There is no need to show any documentation also. It can be taken by anyone form age 18 to 65. It offers compensation so many different ways such as:
- Medical expenses that happens as result of injury
- Daily cash at the hospital
- Education grant
- Expenses for legal fees arising from third party liability
- Partial or permanent disability
- Loss of life
Coverage is available not just when you are in India but also when you are living aboard. The policy also covers for accident that occurs from acts of terrorism. Period of coverage is one year, after which you have to renew the policy. When policy renewal is done before the due date, you can make use of the 'no claim' bonus, provided no claim has been made against the policy in the previous year. There is a policy available for every budget, so you can easily find one that is suitable for your needs. Personal accident cover for fellow passengers can be added as a benefit to vehicle insurance. In such situations the policy will pay a lump sum if there is permanent disability or loss of life to passengers.
Why do you need to take personal accident insurance policy?
Personal accident policy is important for various reasons. If you happen to get into an accident which causes severe injury, the policy is most essential to pay for medical expenses. When such expenses arise suddenly, you simply cannot cope with them. Your family can face a financial strain. Coverage from the policy will help to mitigate expenses, so that you can take treatment and concentrate on recuperating. Money from the policy can be used to meet medical expenses and other sundry expenses needed to maintain the family.
How to get the policy?
You can easily get a personal accident policy by applying for its online Fill an application form in the insurance company's website and submit. You will get policy documents in a week's time. Claims and renewal can also be done online, which cuts down time and energy sent in this task.
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 Cover and Personal Accident Insurance Policy .