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Why Get an Accident Insurance Along With Your Health Insurance Plan

Published On Jan 04, 2021 5:30 AM By Gunjan Anand

Life is uncertain, any unfortunate accidents can happen to anyone at any time. Due to the competitive lifestyle today, we are leading a life full of stress. Hence, as a result, more and more people are now getting prone to health-related diseases these days. Moreover, there is also a sharp rise in the number of accidents happening every day due to the poor condition of roads.

In order to keep yourself and your family safe, it is highly significant to purchase a health insurance plan. With the help of health insurance, you can save yourself from the financial crisis that could arise due to any mishap or accident. Also, you can buy a personal accident cover alongside a health insurance plan to get extensive coverage. Both the plans are designed to meet the medical expenses that can arise due to injury/illness/disability or any other health condition.

Why Get an Accident Insurance Along With Your Health Insurance Plan

Health Insurance Plan V/s Accident Insurance

A lot of health insurance plans now offer coverage for various health conditions, but only a few selected insurers offer accident cover. Most of the insurers have a separate insurance product providing accidental cover, which is commonly referred to as personal accident insurance. These insurance plans are designed to offer coverage against complete disability and death caused by an accident.

Many such insurance policies also offer optional covers such as accident hospitalisation expenditure, daily allowance for hospital, and much more. Therefore, to simplify health insurance policies are not enough, you require an additional accident insurance cover to protect yourself against accidental injuries.

Accident Cover as Add-On

Many insurance companies also provide accident cover as an add-on alongside good health insurance plans. In case, you do not wish to purchase any separate accident insurance plan, you can consider buying accident cover as an add-on with your health insurance plan.

Other than accident cover, many insurance plans offer various add-on covers such as critical illness cover, top-up cover etc.

Advantages of Purchasing Personal Accident Insurance Plan

Highlighted below are some of the advantages of buying a personal accident insurance plan:

1. Provides Cover for Personal Disability and Accidental Death

Many severe accidents can cause either a disability or even death of the person. The situation can turn out to be worse if the individual is the sole bread earner of the family. Therefore, you should consider buying a personal accident cover as it provides much-needed financial assistance to your family in the vent of disability or accidental death.

2. Cover for Hospitalisation Expenditure

A lot of insurance companies provide optional hospitalisation cover. In case, an individual gets admitted to a hospital post-accident, through this cover the insurer would cover the person against hospitalisation expenses as well.

How to Choose the Correct Personal Accident Insurance?

While choosing a personal accident insurance cover, it is recommended to study various important factors regarding personal accident insurance such as the amount of coverage offered, time period of policy, network hospital, policy premium and many more. This is important as it would help you in choosing the best policy and make a wise decision.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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