"We won’t let accidents take down"
What is Accidental Insurance?
Accident insurance is a type of financial product that pays out a lump sum if you incur specific kinds of injury as a result of an accident. Similar to but legally distinct from health insurance, accident insurance complements disability insurance by allowing you to claim benefits even if the injuries you incur do not keep you out of work. Accident insurance may also complement health insurance if an accident causes you to have medical expenses that your health insurance doesn’t cover.
Features and Benefits of Accident Insurance Policy
Before you decide to get a personal accident insurance, it is useful to understand the key features and benefits of such policies. This policy provides cover in case of unfortunate event of death of the insured due to an accident. The nominee is entitled to the entire sum. The policy even provides cover for permanent total disability, permanent total disability, permanent partial disability and temporary total disablement. Another interesting feature of a personal accident insurance is that it also provides cover in case of temporary total disablement. Certain policies also provide cover the hospitalization due to any accident as well the cost of transportation of mortal remains in case of death.
In addition to the above, many policies also provide a cover for dismemberment of any kind that happens due to accident. Certain insurers have predefined percentages and ratios in which the benefit will be payable to policyholders who suffer dismemberment of any organ such as limbs, hands, eyes, ears etc.
Another optional coverage provided by certain insurers is the cover for the possible death or dismemberment on account of burns. Burns can be caused due to chemicals or fire, especially if the policyholder works with hazardous chemicals. If the policy holder suffers any burns, then the cost of the treatment of the burns will be covered under a policy for personal accident insurance.