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Jan. 10, 2019

Personal Accident Insurance: Factors Needs to Consider Before Buying

Imagine you are crossing the road and suddenly a car collides over. Next, what you see after you open your eyes, ceiling of a hospital room, some doctors ready to explain incurred expenses. Soon you realize about your fractured left leg and the worst part you are the only earning member of the family. Now, regretting will do nothing for the loss you will be going to pay. Again, imagine the same scenario, but this time you are not regretting why? The uncommon thing between both the situations is Personal Accident Insurance, a type of General Insurance Policy. It covers a person from accidental death and disablement. Whereas the disablements are permanent total disability, permanent partial disablement, temporary total disablement and more. 

To ensure your overall safety you should buy personal accident insurance cover that will help to reimburse all your medical expenses. Opting for a full-fledged comprehensive personal accident insurance policy is a wise decision you take.

There are certain factors you need to consider before buying personal accident cover - 

-      Premium: Premium is the calculated amount to be paid at the time of buying personal accident insurance. Also, it is to be paid on a regular basis in the form of renewal amount. The premium amount is based on the nature or scope of the coverage. You should go for the comprehensive package that provides complete coverage.


-      Policy coverage: While buying personal accident insurance dive into the complete knowledge to utilize every bit of insurance coverage. While selecting Personal Accident Insurance you have to be very particular about number of coverage it is providing. It covers Accidental Death, Permanent Total Disability, Permanent Partial Disability, Temporary Total Disability, Additional Benefit Transportation of Mortal Remains and Children‘s Education Benefit.


-      Insurer: It is important to connect with a trustable insurance company who is having a smooth claim settlement history. One of the advisable names is Shriram General Insurance that you can prefer. As the reputation of the insurer is equally matters that shows the trust of users. 

-      Benefits: One of the factors you need to keep in mind while purchasing Personal Accident Insurance is what kind of benefits like discount, coupons and more they are offering? If insurers providing you such facilities like Hospital Confinement Allowance, Accidental Hospitalization Cover, Medical Expense Reimbursement, Modification of Residential Accommodation and Vehicle along with additional benefits. Then you must go for it. They also provide benefits for your family members and friends as well.


Exclusions: Considering what is being covered under a personal accident insurance policy. It is important to pay careful attention to the excluded one. There are certain exclusions you need to keep in mind like pre-existing injury or self-harm

Final Words, coming to the conclusion you need to have personal accident insurance based on various factors you must consider. Therefore, for your safety and security, go for personal accident coverage also suggest others and let them know how precious their life is?  

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