Why A Personal Accident Insurance Policy is The First Insurance That You Should Buy?
Chances are high that you might have already bought term and health insurance policies and now you are happy that you have properly protected yourself.
But before you put your insurance planning on a back seat, it is necessary to find out the gap in your insurance portfolio.
If after an accident, you are in a hospital, your health insurance policy will take care of your medical bills up to a certain limit. However, in addition to medical expenses, you may have to experience loss of income as well.
Consequence: You will have to pay the remaining medical expenses along with making proper arrangement to recuperate from the financial loss that may arise due to loss of income.
Even after buying health and term insurance policies, a gap is there in your insurance portfolio, which you can fill with a personal accident insurance policy only.
Mainly covering all sorts of disabilities, here are some of the benefits of purchasing a personal accident insurance policy:
A basic accident insurance policy covers both accidental death and disability and can be further enhanced to get extra cover
From minor to major, a personal accident policy covers all types of accidents ranging from falling off a stair at home, fracturing an arm while playing football to getting hit by a vehicle
It is a useful policy as it offers coverage against partial, temporary, or full disability and even the loss of income
Some of the policies are bundled with extra features like child education allowance, coverage for injuries caused due to terrorism, transportation of mortal remains, etc.
Remember, while you can’t stop accidents from happening, you surely can protect it by having a proper safeguard in the form of a personal accident insurance policy.
By the way, I hope you have the answer of the question—why personal accident policy is the first insurance that you should buy?