Monday, 3 February 2014

Personal Accident Insurance Policy- Need of the Day

By on 16:22

Personal Accident Insurance
Accidents are the fact of life. Chances of mishaps happening to ourselves seem almost remote but they could happen at a time when you least expect it. The probability of you met with an accident in India or abroad is very high. ! In such situation  it is utmost important to ensure that your family doesn’t have to face additional burden of managing their day-to-day basic needs

A Good Personal Accident Insurance will give you peace of mind that will tide you through, if you meet with any big or small mishap. , you may have to undertake significant financial expenditure to get the care that you require.

A personal accident policy is a critical component in the investment plan of person who has dependents to support; whether it is children or aged parents, provides compensation in case of death & also bodily injury, total/partial disability or dismemberment caused due to an accident. However to be covered under this policy, the injury must have occurred due to an external, violent means

The personal accident insurance is a flexible policy that can be adjusted according to your needs and budget, Nowadays, wide range of accident insurance providers offer the option of customising the policy depending on specific events

In addition to the death or disablement benefits, the PA cover   provide reimbursement upto specified limits for Medical Expenses incurred for treatment following an accident.

It is all the more important for those who have taken loans (mortgage loan, vehicle loan, personal loan, etc.) to take the personal accident cover because this would offer protection towards Repayment of outstanding balances at the time of any accident affecting the repayment capabilities

Also bear the Education cost of dependent children is up to specified limits in case of accidental death or the permanent total disablement of the Insured

Modification of Residences / Vehicle is also provided by insurer In the event of permanent total disability, we reimburse the expenses incurred for modifying residential accommodation or own vehicle.

Some insurer provides the  benefits such as , Funeral Expenses in case of Death , Transportation  Allowance  of insured dead body or  disablement   from the place of accident to the place of residence. Burns in case of accident ,spital confinement allowance and purchase of supporting equipment, like crutches and wheel chairs,  Ambulance Expenses from accident site to hospital  , can also be availed.

it is a  low cost insurance policy, this segment is different from health policies in the sense that not only does it cover a portion of medical bills arising from an accident or injury, but also provides security against any temporary, extended or permanent loss of income due to the aforementioned

About Bajaj Capital Insurance

Bajaj Capital Insurance Broking Ltd.(BCIBL) is a IRDA approved composite broker and is a group company of Bajaj Capital which is serving customer since last 50 years.


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