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Why Should You Buy Personal Accident Insurance Policy in India?

  • 21 Jan 2015
  • min read

Reason 1: Startling Statistics -

India has a very high rate of road accidents. As per a recent report by Road Transport Ministry in India, accidents claim one life every 3.7 minutes in our country! More often than not, accidents occur due to negligent or rash driving. Even if you are a safe driver, you could be at risk due to someone else's callousness.

Whatever the case, families of such victims undoubtedly suffer an emotional loss and are subjected to traumatic conditions. A Personal Accident Insurance policy could lessen their hardship by providing lump sum monetary compensation, in the process averting any financial crunch.

Reason 2: Loss of Earning Capacity -

Certain accidents disable people leading to a complete loss of livelihood. A situation like that can be quite disconcerting especially if you have liabilities like a home loan, children's education or any other immediate financial obligation.

Availing an accident insurance policy can reduce your financial burden to a large extent in case you are permanently disabled.

Reason 3: Nature and Man-made Fury - 

Accidents can occur due to nature and man-made calamities too. Be it terrorist attacks, earthquakes, cyclones, etc., such calamitous events leave a trail of devastation. An accidental policy covers accidents that arise from all such eventualities.

Important Points to Know about Personal Accident Policy -

1. An accident policy doesn't cover expenses on account of an illness or a disease. The policy provides cover only against accidents.
2. The policy covers accidental Permanent Total Disability (PTD) on account of dismemberment of limbs, total loss of sight, etc.


Also read:

Reason 4: Other insurance is essential, not sufficient

You might have a life and health cover, but these do not compensate you for losing the ability to remain gainfully employed.


Reason 5: Hospital Expenses

Personal Accident Plans can also be made comprehensive. An additional cover that reimburses expenses related to accidental hospitalization like doctor fees, room charges, diagnostic tests, etc. can be availed. Besides, one can also opt for a daily allowance add-on to meet miscellaneous expenses during hospitalization.

Personal Accident policies are available without any health check up online, in a few easy steps. Opt for one to stay ahead of life's unforeseen challenges.


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