While people are now beginning to understand the importance of health insurance, life insurance coverage is still almost unknown. However, if you are the only host of your family, you can not buy personal accident coverage for your loan portfolio.
No matter what stage of life you live in, you can now realize that life is uncertain. When you are out of the way, you can be a witness or be part of an unexpected accident. Although we do not like to think about getting involved in a traffic accident, it is an unavoidable fact. Personal accident coverage can provide the financial assistance you will need during this event.
What is the coverage of personal accidents?
Personal accident coverage provides financial assistance if you are involved in an accident that results in temporary or permanent injury or disability, or even death. It covers many things that are not covered by life insurance or health insurance or that are not adequately covered.
For example, if an accident causes serious injuries that can last weeks or months of bed rest, you will not be able to make a profit during this period, and this can put a lot of financial strain on you and your family. In such cases, personal accident coverage ensures that you receive the financial assistance you need.
What is included in personal accident coverage?
This policy covers all major and minor accidents. In addition to coverage of deaths, the policy also covers partial and total disability. It also provides temporary disability coverage that may prevent you from winning.
The policy is generally available to people of all professions, except for some occupations that may be prohibited by the policy provider. In addition, it is necessary to stay in the hospital for at least 24 hours, and it must occur only due to an accident, while the coverage of personal accidents is generally low, but the penetration in our country is minimal. Lack of awareness is one of the main reasons for the low penetration rate. But now that you know what personal accident insurance coverage is and what it is to include and exclude, you certainly understand its importance.