Do You Really Need Personal Accident Policy?

Though people are primarily concerned about saving for the unfortunate times, not many are aware of the personal accident policy and the benefits it offers. Where life insurance provides multiple benefits on the death of the policyholder, not much can be benefitted during accidents or mishaps of any kind.

Do You Really Need Personal Accident Policy?

This is where personal accident insurance comes into play. An accident policy turns out to be of great help in such cases where the policyholder gets partially or completely disabled. He/she is benefited with complete coverage of the medical expenses along with financial support in case of any disability of the policyholder post-accident. Personal accident insurance can also be claimed in case of minor injuries like fractures, ligament tear, injury while playing a sport and several other incidents. And the best part? These policies are extremely cheap and affordable. Personal accident insurance policy can be availed for a minimum of fee hundreds annually which makes it the best one to be considered by people at large.

Advantages of Personal Accident Insurance Policy

Insurance policies are always beneficial because of the prime benefits they offer at times of distress. Where there are several types of insurance already proposed to you by the insurer or the agent, there are some irreplaceable benefits of personal accident policy.

Family Support

The benefits of an accident policy lie in between life insurance and health insurance policy. It provides the much-needed benefits in case the policyholder gets partially or completely disabled in an accident. From hospital expenses to financial coverage in case of death, personal insurance policy thoroughly caters to the needs of the people like none. Hence, the family of the deceased or the victim will always have something to look up to when the only earning member falls short.

Assured Sum Provided to Nominee

Personal accident insurance policy is mostly preferred as the assured sum is transferred to the hands of the nominee directly. Hence, people with children often opt for such policies which are both cheap and beneficial as well as hassle-free.

Dirt Cheap

A number of people consider term insurance as the cheapest, only until they have come across personal accident policy. Such a policy can be availed from as low as a few hundred rupees per year. However, the rates keep on increasing along with the list of benefits claimed by the owner.

Can Be Availed Easily

A personal accident policy can be easily availed from online websites. Though they are not much popular among the general, such policies are offered by almost every reputed insurer. Apart from this, accident policy can also be availed along with motor insurances without a hassle-free method altogether.

Though there are several benefits offered by personal accident insurance, one should not mistake them with tax benefits. Irrespective of the policy availed, such insurances do not provide any kind of relaxation or tax benefits to the policyholder. Apart from this, if the individual avails multiple personal policies or a bunch of accident policy, the benefits may or may not be the same. Personal insurance policies are planned to suit the needs and demands of the people belonging to diverse personality, profession and many more. Hence, before choosing or accepting any kind of personal accident insurance policy, one should verify and double check the information provided on them. The policyholder should be thoroughly satisfied with the benefits offered and agree on the fact that the policy complies to the needs and demands of the policy bearer.

Accidents cannot be prevented. No matter how much attentive and careful we are, the chances of accidents are both high and unpredictable. Where certain accidents rarely cause any harm, some of them can be very fatal and might lead to the death of the individual. This is where a personal accident policy becomes extremely necessary. Such accidents depend on a number of factors among which the profession of the policyholder becomes the most important. For people working in army, navy, construction sites, and other professions that involve a high risk to the individual, the chances of finding a suitable policy provided is fairly uncommon. Hence, do not forget to compare the policies online before availing the one that suits the best.