Online Accidental Insurance Coverage

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Online Accidental Insurance Coverage

Sanya was driving back to her office after meeting with a client. As the traffic signal turned green, she turned towards her office building. Suddenly, there was a loud bang. A speeding bus had rammed into her car. Sanya was trapped inside. Onlookers rushed Sanya to the hospital. There, the doctors informed her that her fractures required her bedrest till it heals completely. It meant to have one month off. The person on the bed next to her, confused by Sanya’s calm reactions, asked why is she not worried. Sanya told him that though the injuries are painful, that is all she has to worry about because she has good accidental insurance. The man, interested now asked how it works. “Accidental insurance coverage provides financial security to you and your family when faced with injuries, disabilities, or death,” said Sanya. Let’s dig deeper into the reason why Sanya was so comfortable even after facing such an unfortunate event and how can this “accidental insurance coverage” hell for you as well.

Accidents happen every day, and keeping the road and traffic conditions in mind, there is always a considerable risk of a crash. Sometimes, even when you are driving carefully, you can get involved in an accident due to another person’s fault. To cover the risk of a road accident, it is important that you have accidental Insurance Coverage

Apart from road accidents, misfortune can happen at the workplace too, especially if you work in a high-risk set-up like a factory where you may have to work with heavy machinery. If any mishap takes place, it can cause serious injury and even death is a possibility, in some cases. It is, therefore, recommended to have Accidental Insurance Coverage. It will help you get financial assistance in case of any accidents.  

There are two main categories of accidental insurance coverage:

  1. Individual accidental insurance coverage: This covers loss of vision, limbs, or the accidental demise of an individual due to an accident.
  1. Group accidental insurance coverage: This is normally offered by employers to the employees as they get these policies at a discounted rate, depending on the strength of the company. But these plans have limited benefits and are very basic in nature.

What Coverage Do You Get Under This Policy?

  1. Accidental death: If the policyholder dies in an accident then his/her nominee gets accidental death compensation. The family is financially safe in this situation. The compensation can vary according to different companies.
  2. Total disability in an accident: Sometimes, despite medical help, the victim becomes disabled for life. In that case, the insurance pays a certain amount depending upon the nature of the disability. The policy also covers loss of vocal cords, a trauma in both eyes, and hearing loss in both ears.
  3. Permanent partial disablement: This is applicable if a person has partially lost their hearing in one ear or suffered eyesight loss in one eye. Or, in case the policyholder has lost an index finger, a thumb, or even a hand. In all the above cases, the policyholder can approach the insurer for a claim.
  4. Transportation benefit: Some insurance companies grant a family transportation benefit as well. For instance, if the insured person is in a hospital outside 150 km of his home, the immediate family member will incur certain transportation expenses to reach the hospital. In this case, the accidental insurance coverage will reimburse these expenses up to a certain amount according to the company’s policies.
  5. Further benefits: The insurance also covers other factors like education and employment benefits and funeral expenses. One also gets coverage for hospital charges, including ambulance costs, etc. Some policies offer an educational grant and home or vehicle modification benefits.

Before you opt for any of this accidental insurance coverage, you must keep these things in mind:

Important Dates 

Accidental insurance coverage provides a free-look period. This gives you the allowance to cancel the policy within this period. There is a grace period as well that allows you for policy renewal.

Exclusions 

Accidental insurance coverage does not cover any loss arising out of acts of war or terror. It does not cover any claims regarding existing physical disabilities or pre-existing diseases. The exclusions also comprise mental disorders, HIV or AIDS, and inborn abnormalities. The insurer does not honor any intentional injury claims. Any injuries that emerge from participation in adventure sports come under exclusions as well. This includes activities like bungee jumping, mountaineering, river rafting, etc.

So, if your job requires you to travel and you’re always on the road, for the welfare of your family and yourself buying accidental insurance coverage is a must.

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