What is accident insurance? Let's know

Personal accident insurance is very important for your safety. It not only provides medical expenses to the policyholder, but also benefits in case of loss of income, permanent disability and even benefits the family in case of death due to an accident. It covers uncertainties like accidental death, injuries and partial or permanent disability. In case of death, the sum assured is given to the nominee of the policyholder.

Accident insurance can be taken as a standalone policy or can be added to an existing insurance policy.

What is not covered

• Self-inflicted injury is not covered in it. Suicide and attempted suicide are also not covered in personal accident insurance.
• Injury or disability sustained before taking the policy is also not covered in it.
• Accidents occurring during pregnancy or delivery are not covered in it.
• Accidents caused by alcohol or drugs are also not covered in it.
• Accidents caused by breaking the law are not covered in it.
• You do not get the benefit of this if there is injury or death due to war, terrorist activity, criminal acts
•  Accidents occurring during adventures like skydiving, mountaineering are not covered in it.

How much coverage should there be

This insurance protects the insured person in accidents caused by drowning or collision while traveling by rail, air, road. Many insurance companies also cover ambulance charges, hospital expenses, loss of income and even the cost of education of the insured person's child. Experts say that working people, especially those who have many dependents, should take personal accident insurance at least 10 times their annual income. People involved in high-risk professions like construction, manufacturing and transportation should take special policies with advanced benefits.

Take care of these things

While evaluating the policy coverage, it must be ensured that it includes accidental death, disability and loss of income due to accident. Always remember that the insurance amount should be in accordance with your financial needs and lifestyle. Apart from this, you should also consider taking add-on benefits, which can significantly increase your coverage. Many personal accident insurance plans offer global coverage. This ensures that you remain covered even when traveling to another country.