What are some of the benefits of an accidental insurance policy?
Life is an uncertain phenomenon, and predicting the next moment is something that is impossible for us. Sometimes, individuals do experience unpleasant circumstances, such as accidents, which could not only cause physical injury but also impact their hard-earned finances. As per recent government data, road accidents are responsible for the deaths of 1.5 million people along with several hospitalizations and disabilities in the nation. Therefore, the mishap can be a very traumatic experience for the victim and also for their near and dear ones. In a bid to negate the worst consequences, it is advised to have accidental insurance that will take care of your financial burden.
Accident insurance is an agreement between the policy buyer and the insurance company that is bound to compensate the holder if they meet with an accident that results in physical disability (partial or permanent) or death. While we cannot control the physical and emotional strain, one can surely prepare to overcome financial instability on the back of an effective accidental insurance policy. However, finding the right insurance plan can prove to be an uphill battle. This is where insurance advisors can offer their expertise and guidance to help people find a policy that is best suited to their needs, saving both their time and effort.
Benefits of Accidental Insurance
Accidents can occur randomly, regardless of the place and time. However, if you are someone who commutes daily or travels frequently, having accidental insurance can come in handy. Now, we have a lot of brokers in the market who are making righteous efforts to bridge the insurance gap in the nation. Policy Ensure, with its vast PHYGITAL distribution network, has ensured that accidental insurance reaches every corner of the nation. Therefore, an individual can now be stress-free with their insurance without compromising quality or credibility.
Now, let us look at how an adequate accidental insurance policy can help a person in a dire situation.
Financial Security for the family in case of an accidental death
If a person owns an accident policy and meets with an accident that results in his or her death, the nominee who has been selected by them gets the full compensation, which is 100% of the chosen insured amount. Having accidental insurance in such cases can help the family of the policyholder to negate the financial challenges. Furthermore, if the deceased person is the sole breadwinner, then the family benefits from the insurance.
Financial Security in case of permanent disability
In some cases, the accidents can be so dreadful that, despite getting all the medical aid, the person ends up having a permanent total disability. There may be loss of both feet, hands, eyes, and more. Furthermore, there may be cases where the individual loses their hearing ability or suffers vision loss. Therefore, an accidental insurance policy compensates the holder with an amount that depends on the nature of the disability. This ensures the victim is secured in the event of a permanent disability.
Financial Assistance in case of partial disability
If a person gets into an accident and loses one limb, an eye, a finger, or an ear, then in such a case, the accidental policyholder can claim compensation. This is a benefit, as you never know if that disability turns into a permanent one. Therefore, in order to remain secure and have financial aid at your disposal, it is evident that you choose the best accidental policy.
Covers transportation cost for hospitalisation
There can be certain situations when an individual meets with an accident at a certain place; however, he or she has been admitted to a hospital that is far away from the location of the accident. In such cases, the family of the victim may have to bear the transportation expenses of the ambulance. However, if you purchase an accidental insurance policy, it can cover this expense, and the family does not have to pay from their pockets.
Provides additional benefits
Apart from the benefits stated above, there can be other added benefits to having an accidental insurance policy. Other benefits include some of the hospital and ambulance charges that are being taken care of. The allowance received during hospital treatment and the post-hospitalization charges that are covered can act as much-needed relief for the holder. Furthermore, the individual can also get coverage in terms of education, employment benefits, and funeral expenses. Overall, the policyholder gets holistic coverage in which their expenses are covered so that they recover in a stress-free manner.
Conclusion
One thing is certain: nothing is more precious than your life for your near and dear ones. And if you are the sole bread-earner, you need to shield yourself and your family with security that will ensure you take care of your financial burden. With the best accidental insurance, the policyholder and the family reap the benefits in cases of partial disability, permanent disability, and death.
Insurance brokers such as Policy Ensure, with their unique Phygital business model, enable insurance access to reach the grassroots levels of the nation. People can now have access to insurance policies based on their requirements, in a hassle-free manner. While you may not be able to negate unforeseen events, you can be better prepared by leveraging the expertise and network of experienced brokers to find the right accidental insurance policy.
