What is personal accident insurance policy?
Personal accident insurance policy is an insurance that offers compensation when the policyholder suffers injuries, mutilation, impairment or demise from a hazardous, violent and visible event. The situations that are included under this cover are:
Injuries during air, road or rail travel
Injury due to a fall or collision
Drowning or injury from fire
The accident insurance policy also protects dependents of the policyholder from economic issues in case of an eventuality. A person should ideally buy a policy that provides reimbursements for all unprecedented situations such as short-term impairment to demise of the individual. Such a policy will protect the family’s future, and can be conveniently renewed through online portals.
A good accident insurance policy protects the policyholder and his family in a very significant way. Hence, it is important that people understand the advantages of purchasing such a policy. Accident insurance policies can be purchased online through the insurer’s website or, more efficiently, through neutral third-party financial websites. Even though Life Insurance policies provide personal accident coverage as an add-on, this might not be enough.
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