Accidents can happen any day any time and anywhere. We cannot avoid the impending dangers, but we can decrease the losses and damages. Accident insurance can cover you and your family from financial loss due to an accident. Accident insurance is often referred to personal accident insurance. It also provides financial security against treatments, medical expenses, and hospitalization, caused by an accident. Accident insurance policies cover a person for any injury, caused by an accident. The policyholder will buy the policy while the insurance companies will pay off the medical and hospital bills in favor of the policyholder. In case of accidental death of the policyholder, the insurance company provides cash benefits to the members the policyholder's family. Insurance for accidents are applicable for 24*7.
Accident life insurance pays out a guaranteed cash lump sum if you die or suffer a dismemberment as a direct result of an accident. It's relatively inexpensive to take out accidental death life insurance and it provides a useful supplement to a level term or whole life insurance policy. It's useful for men and women who spend much of their working life traveling or who work in a dangerous occupation.
The Coverage
The coverage of the accident insurance varies from policy to policy. Hence, before choosing accident insurance, one must learn about the coverage of the policy in details. Accident insurance has following coverage features in general:
- Accidental Death
- Permanent Total Disablement
- Temporary Total Disablement
- Broken Bones
Accident insurance doesn't cover everything. There are certain professions which are usually not covered under accident insurance. Hence, one needs to check it before buying any accident insurance. Following professions may not be covered under accident insurance:
- Armed Forces
- Para-military Forces
- Merchant Navy
- Airline Pilots
- Hazardous Sports
- Offshore workers