February 11th, 2010

Facts About Personal Accident Insurance

Personal accident insurance offers a monetary cover to a policyholder when he or she experience damages resulting from an accident. Insurance aids a policyholder in paying off hospital and medical bills in case of accident injuries; it also gives monetary benefits to family members if the policyholder dies in the accident. This insurance, applicable 24 hours a day, 365 days a year, is also commonly referred to as personal accident insurance.

There are eight general types of personal accident insurance policies and they are:

Individual – can be taken by any individual and the benefits include dependents like children. However, an adventurous person will not enjoy this policy.

Children – it provides financial aid to the parent that are unable to work or if they acquire expenses as a result of accident.

Group – for company employees as the expenses related to accidents.

Self-employed – for a non company employees.

Team – organizers can look for cover for all the members of a sports team.

Professional – specific for self employed professionals, such as a sportsperson, actor, lawyer or doctor, who have special requirements.

Over 50- targets people over 50 years of age, as accidents can cause more grievous injuries to them.

Lastly, Travel accident – offers benefits in case the policyholder meets with an accident while traveling.

This entry was posted on Thursday, February 11th, 2010 at 9:03 pm and is filed under Communications.