• Single Accident Insurance: This type of plan is limited to an individual and provides coverage against accidental death, accidental loss of body parts accidental disabilities. • Team Accident Insurance: This type of plan is provided by the company to its employees as group insurance.
PERSONAL ACCIDENT POLICY
In our day-to-day lives we all are exposed to the risks of accidents. You bear the risk of accident despite all precautions which may result into disablement or loss of limbs or even death in some cases. Personal Accident Policy provides compensation in the event of insured sustaining injuries that is caused due to an accident. That is why we recommend you to buy a personal accident insurance policy..
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A personal Accident insurance policy provides full monetary security to the policyholder in case of unforeseen situations such as death due to an accident, major injury due to an accident, or permanent or temporary disability of the person. In case of death of the policyholder the nominee gets 100% compensation from the insurance company and also other compensation is provided for the damage of body parts. In today’s fast world people have become more prone to accidental death, major injury due to fatal accident, permanent or temporary disability of body parts and in times of emergency, it usually becomes tough to arrange funds for treatment if a person is from a middle-class background and thus in order to cater all these difficulties it is necessary to have a Personal Accident policy which will provide financial protection in the treatment of these unforeseen happenings which will not impose pressure on an individual for treatment.
Why is it necessary to choose Personal Accident Insurance?
There is no guarantee of life in today’s world and any unforeseen situation like an accident can happen to anyone at any time during an emergency the most challenging task is to gather funds for medication to bear high expenses for hospitalization. People belonging to middle-class families often face high challenges to arrange money in times of emergency and which leads to a financial crisis. Thus insurance plays a vital role in this situation as it releases pressure from the insured family as they will not be troubled in arranging funds and the policy will take care of every expense incurred in medication. Thus the need for an accident policy is very necessary as treatment costs are very high in this expensive world.
.F.A.Q
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WHAT ARE THE TYPES OF PERSONAL ACCIDENT POLICIES?
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WHAT ARE THE BENEFITS OF A PERSONAL ACCIDENT POLICY?
• Coverage against death due to Accident. • Coverage against everlasting disability of body parts. • Coverage against temporary impairment of body parts. • Tax benefit under section 80D of the Income Tax Act 1961.
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WHAT ARE THE ADVANTAGES OF A PERSONAL ACCIDENT POLICY?
• Security of the family from a financial crisis. • No pre-medical test is done before buying the policy. • Considerable coverage at a low-cost premium. • Availability of both single and family plans. • Quick and easy processing of claims. • The benefit towards child education. • Dual compensation if death occurs in public transport. • Availability of personalized plans. • Expenses are covered for a funeral.
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WHAT ARE THE DOCUMENTS NEEDED TO PRESENT FOR A CLAIM IN CASE OF DEATH OR DISABILITY?
• Certificate of Death. • Report of Post-mortem. • Report of FIR. • Medical documentation. • Pharmaceutical bills.