Things You Didn’t Know About Personal Accident Insurance

There’s no telling when you might find yourself in an accident. But when you do, the next scary thing is financial security. That’s where Personal Accident Insurance comes into the picture. 

Sure, you can always take timely precautions. But considering the off-chances, health insurance is the only way you can safeguard this financial security. 

So, take a look at all the things you didn’t know about Personal Accident Insurance

What is Health Insurance?

The insurance covering all your medical expenses when you suffer from an illness or ailment is called health insurance. 

Here, the medical expenses could include anything from hospital bills to medicines and even consultation fee.

How does Health Insurance Work?

This plan is in the form of a contract that ties an insurer with the insurance policyholder. In such an arrangement, the policyholder makes a premium payment to the company. 

In return for that, the insurer takes care of the medical expenses that the policyholder might have to incur. 

Since different health conditions and ailments could stem from different causes, health insurance has its set of types as well. 

However, we will be looking specifically at Personal Accident Insurance for the time being.

What is Personal Accident Insurance?

As the term probably gives you an idea, Personal Accident Insurance helps you out in case of an accident. 

You might not even be responsible for the accident, but it hardly changes the situations you meet. And these “situations” could point towards anything from a minor injury to a major disability. 

In addition to that, surgeries and emergency rooms can be heavy on your pocket. And the story doesn’t end there because medication and consultancy fees follow soon after. 

In such cases, policies like ManipalCigna health insurance and others come in handy.

What Kinds of Accidents Does an Accident Insurance Cover?

Accident insurance takes care of a set of qualifying injuries. 

While they might differ from one to another, most of them have a basic outline. This outline encompasses damage or loss of a limb, severe degree of burns, tear wounds and lacerations, and even paralysis. 

In case the accident leaves the policyholder beyond recovery, the insurance money goes to their beneficiaries. Most of the time, the beneficiary is the family of the policyholder. 

Who is Eligible to Hold A Personal Accident Insurance? 

With every health insurance policy, the eligibility criteria changes. The terms and conditions that the insurer applies can also differ. 

However, here is a list of common criteria that makes you eligibly for a personal accident insurance policy:

  • For Individuals: if you fit within the age range of 18 to 65 years
  • For Dependent Children: if you fit within the age bracket of 90 days to 25 years, different clauses apply 
  • For Senior Citizens: if you fit within the age range of 18 to 65 years

Besides these requisites, most health insurances need you to fill out the bare minimum documentation for proof. This paperwork includes application forms, and such that register your sign. 

In case of an accident insurance policy, too, you will have to process your personal information and details. However, these details will only be for authenticating and verifying your application.

Health can be a tricky subject, even if you are a perfectly fit individual with no underlying conditions. Besides, you never know when you might find yourself in an accident. 

In such cases, Personal Accident Insurance helps you get out of swampy medical bills and expenses. After all, it is always better to have a safety plan for you and your close ones.


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