Precautions are better than cure! You should always be careful that you need never ever meet with an accident. But, accidents happen most accidentally. It is the most unexpected and undesirable incident that can occur in someone’s life. An accident can leave you disabled and dismembered which leads to additional medical expenses.You need to buy a personal accident insurance to handle these sudden financial puddles.
Personal Accidental Insurance policy covers accidental death or disability and gives financial stability.
Coverage- An insurance can safeguard you and your family as it gives high coverage. High coverage will include the sum assured should be 10 times the amount of your salary as it takes into account inflation and rising hospital cost. This insurance policy will give a balance between death and disability benefits.
Premiums- You have to pay regular instalments, monthly or quarterly or half-yearly or annual basis, to keep the policy valid. In case of life and health insurance premiums, it is dependent on the age of a person. Higher the age, the higher will be the premiums. But, in case of personal accident insurance policy, premiums are decided based on occupation and not age.
There are 3 categories of premiums-
To know more also read: Personal Accident Insurance Coverage Secrets to Know
Alisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health. She has in depth knowledge and has written more than 1200 blogs on topics related home and car insurance. She also provide you with knowledge about home improvement and cooking.