Four Key Reasons to Buy Personal Accident Insurance

Accidents happen without any warnings. While some are minor and do not involve major losses, some can prove to be deadly and fatal; affecting your life to an extreme level. In order to avoid the financial impact of the losses incurred due to an accident, it is recommended to purchase a personal accident insurance.

Insurance experts say that you require a comprehensive cover apart from the basic life cover or health cover offered by life or health insurance. In order to avail such comprehensive cover, it is recommended to subscribe additional covers. However, such additional covers can increase the premium amount significantly. Thus, to skip the burden of additional premium and to maximize benefits, it is recommended to buy a personal accident plan.

Here are a few reasons why you should get this plan apart from availing basic covers.

1. Additional Cover over Health Insurance

A single life plan will only offer death benefit to the insured. Very few plan offer combined benefit of death as well as permanent disability. In order to increase the coverage of this plan, experts recommend buying a personal accident policy.

2. Extended Cove over Health Plans

Any basic health plan will offer hospitalization benefit to the insured. However, if you plan to avail reimbursement for minor medical expenses, day care procedures, and other related healthcare spending, then do avail this policy for coping with such extensive expenses.

3. Injury due to Third-party Damage

Very few health plans cover the expenses of injuries caused by third-party damage. In order to avail reimbursement for such damage, it is recommended to buy a personal accident insurance plan. This will pay off the expenses incurred in treating such injuries.

4. Partial Disability Cover

No life or health policy will provide reimbursement for partial disability due to accidents. However, with personal accident insurance, you can avail reimbursement for such partial disability. It will not only take care of medical expenses, but will also provide periodic remuneration.