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Accidental injuries can involve prolonged periods of treatment that can add to your financial burden. When buying a health insurance policy, it is crucial to understand its coverage. This will help ensure protection from all kinds of health complications.
Road accidents are unforeseen. They can lead to serious physical injuries and even loss of lives. The treatment of accidental injuries may also deplete your savings. Buying adequate insurance coverage can help you stay financially secure against such mishaps.
How can you financially protect yourself from accidental injuries? Does your health insurance cover accidents? Keep reading to know.
Does Health Insurance Cover Accidents?
When buying a health insurance plan, you may consider the sum insured, policy benefits, and policy inclusions and exclusions. However, it is equally important to understand if the policy covers accidental injuries.
Coverage against accidental injuries is part of most health insurance plans in India. However, it is not offered as part of the regular plan. You need to buy a personal accident cover as an add-on. This cover includes ambulance charges and hospitalisation expenses.
Some plans may also include daily hospital allowance, post-hospitalisation expenses, physiotherapy costs, etc. You can also buy a separate personal accident insurance policy for comprehensive coverage against road accidents.
What Is a Personal Accident Insurance Policy?
A personal accident insurance policy covers expenses and losses related to a road accident. In this policy, the insurance company is liable to compensate you if a road accident leads to permanent and total disability or death.
Personal accident insurance is available as a standalone policy. However, some insurance companies offer it as an add-on cover under regular health insurance, motor insurance or life insurance plans.
In all scenarios, you need to pay an additional premium amount to benefit from the comprehensive coverage.
Why Should You Buy a Personal Accident Insurance Policy?
Here is a list of benefits of buying a personal accident insurance policy:
Offers Coverage Against Accidental Death and Permanent Disability
Road accidents can be devastating. They can lead to permanent disability or even death of the victim. These unfortunate events can add more to the family’s misery if the victim is the sole breadwinner.
A personal accident insurance policy can offer respite if the breadwinner dies or gets disabled in a road accident. The lump sum amount as compensation can help the victim’s family manage various expenses.
Includes Optional Cover for Hospitalisation Costs
Personal accident insurance policy excludes hospitalisation costs. However, many insurance companies provide the option of adding them as an add-on cover. The add-on can help tackle hospitalisation expenses if you get admitted due to a road accident. In addition to this, you can choose other optional covers like daily hospitalisation allowance, post-hospitalisation expenses, etc.
Coverage Against Terrorism
Usually, health insurance plans do not cover injuries caused by an act of terrorism. A personal accident insurance policy can offer you this benefit. It includes medical expenses related to accidental injuries that occur due to an act of terrorism. However, not every personal accident insurance offers this protection. So, make sure you check the policy coverage before buying it.
Provides Worldwide Coverage
Most health insurance plans cover hospitalisation expenses within India. But when it comes to personal accident insurance, you get worldwide coverage from accidental injuries. It means if an accident happens outside India, causing death or disability, the insurance company will still provide coverage.
Wrapping Up
Personal accident insurance is essential to protect yourself and your loved ones from any unforeseen event. In most cases, health insurance covers accidental hospitalisation with an extra premium. You can also opt for an accidental death and disability rider with life insurance plans.
A comprehensive insurance plan with all the required coverage and features can protect your loved ones from potentially devastating financial losses if something unfortunate happens to you.
