Insurance is a much-needed asset in today’s day and age but it can be confusing for a consumer to pick and choose among insurance companies. To make matters worse, your financial advisor might give you the wrong information that makes you chose a plan according to his or her wish.
As a result, you end up choosing a wrong plan that does not suit your needs and on top which you have to keep on paying regular premiums. It is better to take an informed decision than to be sorry later because buying an Ds Business Contract Hire insurance policy should benefit you and your family.
Just like any other plan, personal accident insurance also has hidden conditions and clauses that you should be aware of before purchasing them online.
Personal Accidental Insurance
Personal accident insurance is formulated to cover against accidental death and disability of the buyer. It is a variant of health insurance policy. There are two major types of VW Golf Personal Lease accidental insurance policies which are currently available in the market- Individual and Group Policy. Normally the coverage of these policies ranges from accidental deaths, disability to dismemberment and act of terrorism.
Major benefits for availing a personal accident insurance policy are as follows –
- Family Security
The accidental insurance policy guards the dependents like family or parents from any economic repercussions when any uneventful incidents such as disability or death occur to the policy buyer.
2. Coverage of various types of incidence
Personal accident insurance covers a range of incidence from accidental deaths, permanent partial disability to total disability and temporary total disability. Hence an individual can handpick among the choices or include all of them in his or her policy.
3. Highly customizable with Low premium
The accidental insurance policy can be customized as per an individual or group’s need and requirements. The policy can be handpicked for getting maximum benefits with low premiums.
4. Legal & funeral expenses included
The accidental insurance policy also comes with options where the legal expenses for the accident can be covered like public property damage or other expenses. The policy can also cover the funeral expense upon the death of the policyholder in an uneventful incidence.
5. Worldwide coverage
Majority of the accidental insurance policies covers any type of accidents you met on international grounds, hence international travel also gets secured.
6. Children’s Education support
Many of the accidental insurance policy covers for the education support of the children after the death of the policyholder along with daily allowances.
Although the accidental insurance policy covers a wide range of incidents, there are certain exclusions also which you need to be aware of before buying a policy. Few of these incidents are as follows –
- Pre-existing disability or injury
The accidental insurance policy does not cover people with disabilities from birth and does not account for them in the policy.
- Death during childbirth or pregnancy
Any death of the policyholder during the birth of the child or during pregnancy is also not covered by the accidental insurance policies and the incident is excluded.
- Suicide or self-inflicted injuries
In case the policyholder commits suicide or inflicts self-injuries, the accidental insurance policy does not cover any medical expenses nor provides monthly expense for this scenario.
- Influence of intoxicants
Death or injuries due to intoxication or overdose of drugs is also not cover since it does not fall under high-risk occupation listed under personal accident insurance.
- Participating in adventurous or daring sport activities
These are not included in the accidental insurance policy as most adventure or daring sports activities take consent of the participating adult before these activities.
- During commitment of criminal acts
Criminal acts are also not included as they are an act of treason and in most cases, the person committing the act is guilty of the deed.
- Suffering from a mental disorder
A person suffering from a mental disorder or illness is also not eligible to get covered under personal accident insurance policy.
The Bottom Line
As a personal accident policy is a subcategory of health insurance, the benefits and exclusions vary from company to company. In order to reap the maximum benefits and to have an insurance policy customised to their needs, it’s important to compare them on online portals and then make an informed decision.