Accidents can occur anytime and without warning and personal accident insurance can provide financial protection when needed. The question is, what does a personal accident policy cover? Most of us know it is a valuable addition to an individual's insurance portfolio, offering support when unexpected events occur.
What are the Coverages Under Personal Accident Policy?
So, what is covered by personal accident insurance? PA insurance typically covers:
- Accidental Death: Provides a lump sum benefit to the policyholder's beneficiaries if the insured dies in an accident.
- Permanent Total Disability: Pays a lump sum benefit following a permanent total disability (PTD) to the insured that prevents them from working.
- Permanent Partial Disability: Offers a benefit if the insured sustains a permanent partial disability (PPD) from an accident, such as loss of limb, sight, or hearing.
- Temporary Total Disablement: Provides a weekly or monthly benefit if the insured cannot work temporarily following an accident-related injury.
- Medical Expenses: Reimburses medical costs incurred from treatment of injuries sustained in an accident. This can include hospital stays, surgeries, medications, and other necessary treatments.
- Ambulance Costs: This often includes insurance to cover the costs of taking the patient in an ambulance to the hospital following an accident.
- Child Education Benefit: If the insured’s death or permanent total disability is caused by an accident, this benefit will cater to the education of their dependent children.
Conclusion
Now, we are better positioned to answer the question, “What does a personal accident policy cover?” Personal accidental insurance can provide significant financial support in the wake of an accident. It covers various expenses to ensure your and your family’s financial protection. Furthermore, you can opt for a comprehensive health insurance policy to alleviate further stress stemming from additional financial duress. Here’s to a happy life ahead!
Disclaimer: The information provided in this blog is for educational and informational purposes only. It is not intended as a substitute for professional advice, diagnosis, or treatment. Please consult your general physician or another certified medical professional for any questions regarding a medical condition. Relying on any information provided in this blog is solely at your own risk, and ICICI Lombard is not responsible for any effects or consequences resulting from the use of the information shared.