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What Is Personal Accident Insurance
Personal accident insurance provides financial coverage against unforeseen events arising from accidents but also for loss of income because of the accident.
Any of the unfortunate events caused due to road, rail or air accidents, collision, fire, explosion and others are covered under this insurance. It also financially compensates for causing bodily injury, permanent partial disability or permanent total disability and accidental death.
Benefits of Personal Accident Insurance
Types Of Personal Accident Insurance
Individual Personal Accident
It is meant for individuals and offers more coverage compared to the group insurance type. It covers not only death due to accident but also short term and long-term disability due to the accident.
Group Personal Accident
This kind of insurance is provided by employers for their employees. Such plans offer basic coverage and does not include the benefits included under a standalone policy.