Have you ever though of accidents, most of the citizen of India loss their lives because accidents. Death of a family members makes emotionally weak , financially. When a family depends on single person income , it will be very difficult for them to survive.
If a person take Accident Insurance policy. There could be no tension, Just scroll down know about amazing benefits of Accident insurance.
What is Accident Insurance ?
Accident Insurance a plan that can help individuals, when they met with accident, This accident policy gives financial support needed. This policy can help to get medicine and also useful for permeant disability and in case of accidental death.
Accident insures has an option to select solo or you can add your family members. Benefits will vary , depending on policy.
Types of Accident Insurance Plans in India
Insurance companies offer different accident insurance plans. The most common plans include the following:
- Accident disability Insurance : This policy covers who are permanently disable or Partial disable due to accident. Some of Insurance pay lumpsum amount in some case like loss of eye , legs. Other Insurance companies pay as monthly bases.
2.Family Accident Insurance:
A family Insurance covers all members in a family. If unfortunately some one in family injurie husband / wife children some times patents are also covered in this plan.
3. Personal Accident Insurance :
In India, the most common and accessible type of accident coverage is personal accident insurance. Usually, it includes:
Accidental Death: In the event that an accident results in the insured’s death, a lump sum payment is made to the nominee.
4. Permanent Total Disability: A portion of the money insured is paid out if the insured person becomes incapable of carrying out everyday tasks, such as losing their vision or limbs.
Temporary Total Disability: This protects against income loss in the event that an injury prevents the insured from working for a predetermined amount of time.
Hospitalization Expenses: Pays for medical expenditures brought on by accident-related injuries.
Medical Reimbursement: Certain policies include coverage for costs such as prescription drugs, diagnostic examinations, and post-accident surgery.
5. Insurance for Group Accidents
Employers provide this kind of accident insurance to their staff members. A basic level of coverage for job-related accidents is usually provided by group accident plans, which may also cover accidents that are not related to work. Because of the collective structure of the coverage, these insurance have lower rates.
In India, why is accident insurance important?
One of the main causes of fatalities and serious injuries in India is accidents. The National Crime Records Bureau (NCRB) reports that a sizable portion of fatalities each year are caused by traffic accidents. Accidents are now a major worry for Indians due to the country’s expanding automobile population, inadequate infrastructure, and careless driving habits.
Its a good choice to take a insurance policy for your family. Selecting a best insurance policy adds financial support for your family. You can even save good money instead of paying hospital bills.
Though accident insurance is fundamental when making a financial plan, it is perhaps more crucial to identify the appropriate policy. Here are some things to note when purchasing an accident insurance policy:
Coverage Amount
Always make sure that the sum insured is sufficient, when it comes to medical inflation, your families financial obligations as well as loss of income. The amount of coverage must be enough to pay for the medical costs and the income that may be lost during recovery, along with any needs of your family’s finances.
Policy Terms
Policies differ in the adantages they provide like scope of coverage; how claims are made, and what gets excluded. Ensure you read the entire document, especially the fine print, to understand the limitations on types of claims (like having certain accidents or conditions) and the claim process.
Premiums
Completing a review or comparison of premiums between various insurers is important, as premiums differ between hourly coverage, the age of the insured person, and a variety of other different factors. Look for the policy that best suits your requirements without placing too heavy a burden on your finances.
Add-Ons and Riders
There are also optional family members coverage, as well as hospitalization expenses, critical illness add on, and riders offered by, that enhance the scope of coverage, thus the entire policy. These optional benefits have the ability in greatly improving the general protection of the policy.
Claim Process
Additionally, no claim bonus and enhanced cover days are also beneficial features offered by credit card companies to their clients. The reputation of the insurance company matters, as the entire claiming process must be straightforward and clear.
