Life’s uncertainties are known to us all. While we cannot prevent the unforeseen events from occurring, we surely can keep ourselves, and our family protected against them financially. In the case of accidental death or disablement of the sole breadwinner of the family, the dependents will be pushed into a financial turmoil.
If you are the sole income earner of your family, you certainly would not want your loved ones to suffer in any way. That is when personal accident insurance may come in handy. Let us understand the personal accident insurance plan in detail.
The personal accident insurance plan reimburses the medical expenses incurred due to accidental death or disablement of the insured.
In other words, if you suffer from disability due to an accident, the treatment and hospitalisation expenses will be covered under the plan. Moreover, if you die in the accident, your family will receive compensation under the policy so that they do not face any financial crisis.
Besides paying a lump sum amount in the case of covered contingencies, the salient features of personal accident insurance plans in India are listed below -
The personal accident insurance plan covers the policyholder for the following things -
The policy provides a lump sum benefit to the dependent in case the insured dies in an accident.
If the insured is left with permanent total disablement due to the accident, the policy pays the entire sum assured amount to them.
If the insured suffers from permanent partial disablement, a specific percentage of the sum assured is paid to them.
The policy also offers weekly benefits to the insured for a temporary period in case the insured suffers from temporary total disablement.
As explained earlier, the personal accident insurance plan is known to cover the insured and the dependents against unforeseen events. Besides, the policy provides the following benefits -
If you are planning to buy a personal accident plan in India, note the following things about the policy -
Given the fact that the road accident rate is significantly increasing in our country, it is wise to have personal accident insurance under your name, even if you have a comprehensive health insurance plan. The policy mainly acts as financial security for your loved ones in case you die or suffer disablement in a mishap.
If you are looking for a policy that covers illnesses and hospitalization, you can buy a health insurance plan at Finserv MARKETS online. Here, you can also extend the coverage of your health plan to cover for hospitalization, treatment and more.
The health insurance plans available on Finserv MARKETS offer extensive coverage, cashless claim settlements, hassle-free renewals, reinstatement benefits, and so much more. If you are worried about the premiums charged on your chosen coverage and add-on benefits, use the health insurance calculator to determine the same.
So, why wait? Get a comprehensive health insurance plan at Finserv MARKETS, today!
You can also read about health insurance tax benefits by visiting Finserv MARKETS website.