With the constant rise in population, metro cities are becoming increasingly crowded and claustrophobic. Moreover, the sheer increase in vehicles plying the roads in congested cities leads to an increase in accidents. All these reasons make having financial protection for yourself in case of an accident is a must-have. For this, personal accident insurance is the best choice of investment. Everything is taken care of with it, from major medical expenses to lost wages due to the injury itself.
Personal accident cover is a policy where you are insured against injuries sustained in any form of an accident. It helps you from any financial crisis caused by an unfortunate incident. It covers medical costs, loss of income, and other expenses associated with an injury or illness. The premiums for this cover are based on your age, gender and the amount of coverage you want. They’re calculated on a yearly basis and determined by the insurance company in question. Mainly death due to accident, disability, medical expenses and other expenses such as terrorism cover or education grant to the insured person’s children (under 23 years) are provided. Some of the exclusions of this policy are – self-harming activities, pre-existing injuries, injuries/death due to intoxication, childbirth, pregnancy, illegal activities, war and adventure sports.
Now, what is the difference between health insurance and personal accident cover? If you are a healthy person, health insurance will cover your medical expenses if you get injured or become ill. It can be purchased as an additional cover for your existing car insurance policy or even purchased separately from it. At the same time, personal accident cover pays for any injuries caused by accidents and does not require any treatment to be paid for by the insured person.
A personal accident insurance plan is critical in protecting you from any financial crisis caused by an unfortunate incident. The good news is that you can get a personal accident insurance plan in India, regardless of your age and health status. They are available as stand-alone products or part of existing health plans or even add-ons with other financial products or vehicle Insurance.
If you think that the cost of accidents is too high, then it is time to make a change. Personal accident insurance policies can help you save up to 80% on your medical bills, which will help you recover faster from an injury or accident. It also provides peace of mind that if something happens to us, we won’t have to worry about dipping into savings to pay for expenses because the insurer will take care of our medical expenses while we focus on recovering from our injuries or illnesses. Chola MS’s personal accident insurance cover provides all-around protection against life’s unexpected incidents. Click on the link to learn more about the benefits of this policy and how it provides the financial as well as emotional assistance in times of need.
