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Why Personal Accident Insurance Cover Is Required?

By Author: Saif Raza
Total Articles: 2

Accidents are often due to carelessness; but sometime it’s due to someone else’s mistake. However, be it carelessness or mistake an accident is an accident. Further, every accident results in physical loss, emotional trauma, and financial devastation. The best way to protect oneself from post accidental stress is to plan for a secure tomorrow. Secured future is though an absurd term, but to attain it is easy by opting for insurance cover.

Why insurance cover?

General insurance is not applied to accidental hospitalization or cases. Therefore, one must opt for personal accident insurance. Now, coming to the question why; simple reason is insurance cover give compensation for any accidental related issues.

Today, medical facilities are very expensive and further accidental traumas may get worsened due to financial crisis. It’s also witnessed that medical treatment often leads to exhaustion of financial savings. So, it’s always recommended to have a financial backup for such misfortune. The best backup is to opt for the insurance cover.

Will ever I be a victim of road accidents?

This is a complicated question to answer; as the answer can be both yes or no. Yes, because future is uncertain and data of road accidental cases are adverse. No, because you may be fortunate enough to get away with it. But, to be safe from accidents you’ve to be lucky every time. Therefore, why to take chance; when for a very low premium one can get covered against accidents. 

Road Accidents Statistics in India:

In India, every minute road accident claim 1 life; and every minute 4 suffers minor to major injuries due to accidents.
India ranks 1 in road accident cases around the world.
The primary reason for road accidents in India is due to driver’s fault, so the question of carelessness doesn’t arise. Further, in most of the cases the driver is convicted.
There’s no change in the proportion of death to injuries in road accidents. The data remained unchanged for last 5 years.
Road accidents leading to death will lead mortality due to HIV / AIDS and diabetes. The accidental deaths will reach its peak by 2030.      
The people between age group of 25 – 62 years are primary victims of accidental cases.
3% GDP direct loss is witnessed in Indian economy, all because of accidents, accidental deaths, and accidental damages of property.

Therefore, road accidents cover or insurance plan is essential. No one can guarantee whether they can escape the road accidental cases or not. But, by opting for personal accidental insurance you can guarantee security, safety, and timely assistance in time of crisis.

Features of Accidental Insurance:

Instant compensation for death due to accidents. The nominee of the insured member is compensated.
Any kind of reconstructive surgery arising due to road accidents and prescribed by a surgeon is covered.
Accident insurance plan also compensates for permanent partial disability and permanent total disability.  
It also covers child education in case of financial crisis.
It compensates for all fractures and burns caused due to accidents.
If the insured is disappeared, then after 1 year the nominee is compensated the sum insured.
The accident insurance covers all prosthetic devices like artificial arms, legs, eyes, orthopedic braces, and medical equipments.
Any kind of medical evacuation is covered and compensated.

Exclusions from the plan:

Pre-existing diseases or injuries are not covered
Self inflicted injuries, suicidal attempts, and suicide cases are not covered
Claim settlements related to hazardous activities will not be covered or compensated
Claims for mental illness, stress, and psychotic disorders are not covered

For more details on feature, exclusions, and procedures for claim contact the insurance company or discuss with insurance experts.

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