Personal Accident Insurance: Know Your Cover Better

HEALTH INSURANCE PLANS



Ranjana was driving to her home after finishing her meeting with a client. The moment she took a turn, suddenly there was a loud boom. A rashly driven truck banged into her car. Bystanders rushed her to the hospital immediately. The doctors informed her that she has got a fracture and recommended her bed rest for a month. Her co-worker, who came to visit her, asked her how she is going to manage the medical expenses. Ranjana told her that she is not worried as she already had opted for personal accident insurance. Her co-worker was surprised and was eager to know how it works? A personal accident cover provides financial aid to the insured against uncertainties such as accidental injuries, and partial/total disability caused because of the accident. Just like Ranjana, many individuals meet with an accident in daily life. Increasing road accidents are the most common causes of death in India, which is why it is essential to opt for accident insurance. However, it is advisable to know a health policy well before buying it. All plans come with certain inclusions and exclusions. Thus, the insured should know everything about an accident cover to understand how it is helpful for them.

Inclusions of the Personal Accident Insurance

  • Death caused by accident: The insurer pays the sum insured in case of the death of policyholder during the tenure of the health policy.
  • Permanent Total Disablement (PTD): If the accident results in permanent disabilities or lifelong impairments such as loss of sight of both eyes and both hands, then a specified percentage of sum insured is paid to the insured, subject to policy terms and conditions.
  • Permanent partial disablement (PPD): In this situation, the insurer pays a predefined amount to the insured, subject to policy terms and conditions, depending on the severity of the loss.
  • Fractures: If the insured experiences fracture, the insurer provides you coverage in a range of 30-100% of the sum insured, as per the policy terms and conditions, to recover.
  • Burns: If you suffer from burns because of an accident, you will get coverage between 10 to 100% based on the degree of the burns, subject to policy terms and conditions.

Exclusions of the Personal Accident Insurance

Mentioned below are some exclusions of the policy:

  • Any loss occurring because of war or terror
  • Any illness including pre-existing condition
  • Any self-inflicted injury, suicide or attempted suicide, and sexually transmitted disease
  • Any mental or nervous condition, insanity or depression
  • Any claim related to a hazardous activity
  • Nuclear, chemical or weapon attack
  • The insured serving in any branch of the military, navy or air-force

For any other details, you may refer the exclusions section mentioned in the prospectus and sales literature.

Why you must opt for Personal Accident Insurance?

A minor accident can disturb an individual temporarily, but a major accident can have a severe impact on an individual’s life. Therefore, it has become essential to opt for a personal accident cover. The purpose of an accident insurance cover is to give some compensation to the injured.

Personal accident insurance offers coverage in the event of death, injuries, and impairment caused due to an accident. Any type of accident, minor or major, may shatter an individual as well as his family.

If you are looking for a personal accident cover in India, you may opt for Secure by Care Health Insurance(Formerly known as Religare Health Insurance). This health cover allows you to survive through your tough times. Therefore, it is essential to prepare yourself for an unforeseen situation.