Younger people who drive through roads everyday are prone to accidents. This risk cannot be avoided but the better idea to deal any such case is to have a Personal accident insurance plan. It covers you against the high medical cost arising out of a medical emergency.
Personal accidents are not covered under your health insurance plan, so it is always better to be prepared for such unfortunate events in your life. Health insurance plan and personal accident insurance plan are two different products that provide financial assistance at the time of medical emergency. Health insurance plan covers the medical cost, in case of any health related problems but not when you got injuries due to an accident. For such accident, you need to be covered under a personal accident insurance, which takes care of the best medical care and financial need at the time of medical emergency. There are more than 100 accidental insurance plan and their providers in Indian insurance market. It might be possible that you get confused between these policies. This article is a perfect guide to buying the best personal accident insurance plan from the market. Now, read the benefits and coverage that you should consider while buying personal accident insurance plan: Death Coverage Consider a plan that offers full sum insured in case death occurs due to an accident. It is true that life insurance offers equal to sum assured to the nominee, in case of death caused due to accidental or natural. But personal accident insurance plan pays the sum assured only in case of accidental death. Coverage for Children Education Along with this death cover, the policy should also provide children education bonus. Consider this amount around Rs.5, 000 per child maximum for 2 children. This will help you to safeguard your children’s future after your life. Permanent Total Disablement Think of a situation that due to an accident if you become disabled for life, how you will earn your livelihood. Make sure your personal accident insurance plan offers total sum assured. Permanent Partial Disablement In case you met with permanent partial disability unlike permanent disability as mentioned above then your insurance provider must pay you the certain percentage of sum assured depending on the level of disablement. The percentage of total sum insured offered under the plan varies from policy to policy. Temporary Total Disablement For example, you met with an accident which causes minor injuries that need few days or week bed rest for recovery. Make sure your insurance provider pays a certain percentage of sum assured as a benefit. Again this percentage varies from policy to policy and company to company. Along with the aforementioned features, you should also consider some interesting offers from the insurers like a cumulative bonus for the claimless year, family discounts, medical treatment expenses, etc. Few Important Tips to Buy Personal Accident Insurance Plan Write Down Your Requirements It is very important and the first step you should consider while buying a personal accident insurance plan in the market. Make a list of your own requirements, for example, the coverage and benefits you wish to have under your plan. This will help you to buy the plan that will fulfil all your requirements. Compare Online Before finalizing any plan you should compare different plans available in the market. Comparing on the basis of its coverage, benefits, and premium amount will help you to buy the best accidental plan. Consider Lower Premium The lower premium will help you to avoid high expenses, to do so you should choose the coverage that is beneficial and use to you. Buy It Online Last but not the least is buying a personal accident insurance plan online. This will help to save your money and time.
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