Sunday, June 9, 2013

Accidental Insurance Financial Cover

The basic elements of accident insurance are applicable to you, in case you meet with accidental injuries where you have to be admitted to a hospital for treatment or in severe cases an untimely early death.

Various types of accident insurance

As a matter of fact there are many types of accident insurance. Some of them are described below: 

A. Personal accident insurance

This is the most widely used form of insurance and protects you from the expensive medical reimbursement in case you have met with an accident. It also covers partial or total disablement that arises out of accidents. Here a sum is assured to you based on your personal accident insurance policy and the premium that you had paid for it. The period chosen by you should be between one to five years and the age of the insured persons normally needs to be between 14 and 69 in most cases. In case of an early death due to accident the surviving family receives an assured sum.

B. Accident insurance for undertaken debts

In case you have undertaken a credit or house loan from a bank and meet with an untimely death there is no need for your surviving family members to panic. Your accident insurance debt policy will pay the entire credit amount if your death suddenly happens during the specified period

C. Accident insurance for athletes

In case the athlete gets injured or meets with an untimely death, the insurance policy would cover the medical expenses and a financial settlement would be given to the surviving family member. In case of a disability resulting from the accident, the athlete would receive a financial amount to help them meet their medical expenses and challenges of daily life.

D. Car accident insurance

Your car damaged in the accident is eligible for car repair and maintenance financial cover in exchange of the car accident insurance premium that you had paid for. This clever planning (when needed) leads you to enjoy its benefits.

Decoding the benefits of accident insurance

The advantages of having an accident insurance are really a lot and cannot be summed up in a few sentences. Some of them are:

1. In case of your sudden death, the people who depend on you are assured of a financial help. This helps them to carry on with the cost of daily life demands without being liable to anybody.

2. In case of sudden disabilities thru an accident, the financial support helps you to bear the medical expenses and get back to the normal everyday life.

3. A sudden accident or your death helps your children to continue with their education. They carry on the dreams that you wanted them to fulfill.

When buying an insurance you need to consider your current income, age and the period for which it would be taken.

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