3 Reasons To Buy Accident Insurance Policy Smartly

3 Reasons To Buy Accident Insurance Policy Smartly

Personal accident cover is one of the main features offered by health insurance plans in India. It provides coverage for the medical expenses caused due to an accident. However, many people don’t know that they can get a separate accident insurance policy irrespective of whether they have already purchased a health insurance cover or not.

If you are interested in buying a personal accident cover separately or as an add-on cover for your existing health care plan, you need to be aware of some factors that determine how useful it can be after an accident. You should check whether a personal accident cover addresses both temporary and permanent health issues that might arise after or during an accident. Some of the main things that you must check in a personal accident cover are mentioned below:

Cheaper Premium

If you are interested in getting a personal accident cover remember that it should be far cheaper than a full-fledged health insurance plan. This is because the personal accident cover will only cover the injuries, disabilities, and other health conditions that an insured may suffer due to an accident. Buy a Home in Kolkata with the Help of Bajaj Housing Finance Home Loan

An insurance company decides the premium after analyzing various factors such as the sum insured amount that you expect, the risks that are linked to your workplace, etc. Generally, a large sum insured can be secured for a personal accident cover by paying a nominal premium every year. Therefore, do not forget to check the premium of the accident cover that you are planning to buy.


An accident insurance policy must provide enough compensation in case you suffer from a temporary or permanent disability after an accident. This is because you will need some time to recover from the injuries that were inflicted during the accident and may not be able to work for that period.

The financial stress that you may go through during this period can also affect your mental health. Therefore, look out for an accident cover that protects you from the disabilities and injuries that can affect your income both on a temporary and permanent basis.

It is important for you to subscribe to a personal accident cover that provides sufficient compensation during a permanent disability like limb loss or paralysis. Also, temporary disability caused due to a fracture or injury should be covered in a personal accident cover.

Injuries due to a medical condition or illness

You must be aware of the fact that an accident insurance policy provides coverage only for the injuries and disabilities caused due to an accident. However, the injuries resulting from a disease or medical condition will not be covered by it. It will not be included in the accident cover even if the source of the injury is associated with your nature of work.

An accident insurance cover includes compensation in the event of the death of the policyholder. However, you must remember that only the deaths that are resulted from a medical condition or injury that was inflicted during an accident are covered by such policies.

Once you evaluate these three factors carefully, you might be able to buy an accident cover that can protect you from the financial burden that might arise after an accident. Also, remember that the accident cover will also provide compensation to your family in the event of your death. Therefore, it is a wise thing to buy an accident cover that provides maximum coverage and benefits. To get the best accident cover or other add-on cover plans, you can visit the official portal of Bajaj Finserv. You will also come across health insurance plans of several insurance companies on their portal.


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