Make traveling safer with personal accident insurance

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Personal accident insurance is highly underrated insurance in our country. On average hundreds of road accidents happen on a daily basis; despite that, not even half of them are aware of this nature of insurance.

In today’s time, when all members of a household are employed and travel to their workplaces and visit different venues for official purposes via different modes of transportation; everyone is exposed to the risk of accidents despite all precautions and careful traveling. Thus, personal accident insurance becomes a quite useful nature of protection to ensure that he/she is protected and secured to meet the medical arrangements needed for the treatment.

The personal accident insurance scheme provides financial compensation to the insured and its family at the time of the accident can lead to injuries, partial or total, permanent or temporary disabilities or unfortunate death.

While, under the personal accident insurance, the insured get compensation for the treatment undertaken to cure the injuries; but personal accident insurance also provides complete sum insured compensation to the family of the policyholder in case of death to support them financially.

Such plans are also liable to compensate for the partial or total disabilities whether permanent or temporary for instance- loss of vision, hearing ability, speech, hands or legs. Disabilities can also cause loss of income of the insured that can create a crisis for the family, thus, personal accident insurance also supports the insured and its family with the compensation of the income loss depending upon the plan and sum insured taken by the policyholder.

Unlike, comprehensive health insurance, personal accident insurance is quite convenient to buy, here is how.

Minimal documentation

While other nature of insurance plans comes with a prerequisite demand of a list of documents, personal accident insurance doesn’t stipulate any list of documents such as medical tests or certificates. One can get the personal accident insurance plan by filling the application form.

No medical test

Whether it is health insurance, term insurance, critical illness or any other insurance, the applicant has to fulfill a mandatory clause i.e., undergo a fresh medical check-up, especially after a pandemic, no insurance company provides an insurance policy without certified lab attested medical reports. However, with the given nature of this policy, a person looking for personal accident insurance doesn’t have any such mandate to fulfill.

Easy claim process

Claim settlement is a highly crucial factor that determines the relation between the insurance company and policyholder, it is very important to offer a sought-after claim experience to the policyholder. Personal Accident Insurance has a quite hassle-free claim process where the policyholder or its nominee can submit the claim either offline or online, once the insurance company verifies the claim, it gets cleared.

Worldwide coverage

Interestingly, personal accident insurance is not bound with any geographical limitations as it covers casualty occurred place anywhere and everywhere within the policy duration.

Transportation benefit

The risk of an accident taking place is higher when one is traveling to far-off places. In case an insured meets a mishap in a different city or state and gets admitted to the hospital there; the insurance company manages the traveling fund of the relative spent on the traveling to attend the injured policyholder.

Personal Accident Insurance is a must option for people with a frequent traveling job profile, be it any mode of transportation and any distance to ensure their safety and well-being with great benefits and easy premium.

(The writer is Founder & CEO, PolicyX.com. Views expressed are personal.)