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Personal Accident Insurance

Posted At July 2nd, 2018

You should get a complete understanding and knowledge regarding the benefits of personal accident insurance coverage before purchasing one.

This way, you will understand what benefits you will receive upon purchasing the insurance product. The following are some information about the main coverages of personal accident insurance.

Accidental Death Compensation

The insured family member or the beneficiary is entitled to receive compensation if the insured passes away within 12 (twelve) months since the event of the accident, and if the insured is missing and unfound within at least 60 days since the event of the accident as a direct result of an accident covered in the policy.

Permanent Disablement Compensation

Permanent disablement risk as a direct result of an accident covered by the policy

·     Total Permanent Disablement

This covers the loss or loss of function of senses and other body parts such as eyes, arms, legs, and so on.

Total permanent disablement can also be interpreted as when the insured suffers permanent loss of sanity or total paralysis as a direct result of an accident covered by the policy.

However, this permanent disablement must occur within 12 (twelve) months since the accident takes place.

·     Partial Permanent Disablement

This covers the loss or loss of function to the insured body part, which is caused by viral or pathological bacterial infection through the wound caused by an accident that is covered by the policy.

The insured will also get partial permanent disablement coverage caused by a complication or the worsening of a diseases caused by an accident covered by the policy during treatment of medication performed by a doctor.

The right to this compensation is effective when the doctor confirms the partial permanent disablement.

Medical or Treatment Expenses

This coverage will be give the payment or reimbursement of treatment or medical bills for the attempt to cure or heal pain or injuries suffered by the insured as a direct result of an accident covered by the policy.

The right to this compensation is given according to the expenses paid by the insured but will not exceed the coverage value listed in the overview of coverage.

The types of coverage guaranteed by each insurance company surely differ from one another. Not every insurance product has the same benefits list.

Therefore, make sure you read and understand your insurance policy.

Who Is It Most Suitable For?

The personal accident insurance is most suitable for those at the most productive age, that is 25-60 years old. Those who have a job, and those with special profession whose incomes are the sole life support of themselves and their loved ones (spouses, children, families).

Therefore, in the event of an accident, they do not need to financially worry as they will be covered through the insurance policy.

Make sure you and your family are well protected.


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