Term Cover is Not Enough, Buy Personal Accident Insurance Cover Too: Experts

Term insurance has been a buzzword because of the safety net this insurance offers to loved ones in case of a policyholder's untimely demise. However, amidst the focus on term insurance, many individuals overlook another crucial aspect of protection: personal accident insurance.

A term insurance cover ensures financial stability for dependents in the event of death, and accident insurance provides critical support in case of accidents resulting in disabilities or injuries. If you wonder is personal accident cover mandatory accident cover, then it's not true. However, expert insurance agents often recommend policyholders integrate a mix of both in their policy coverage. Wondering why? This walk will provide the details regarding what is personal accident cover and whether it is worth applying for.

Personal Accident Insurance: An Introductory Guide

Personal accident insurance is a type of insurance coverage designed to provide financial protection to individuals during accidental injuries, disabilities, or death. This insurance policy offers various benefits, including coverage for:
 

• Medical expenses
• Income replacement in case of disability
• Lump-sum payments for permanent disabilities or accidental death
• Reimbursement for rehabilitation costs

Accident policy aims to alleviate the financial burden associated with accidents, ensuring policyholders and their families have support during challenging times. It is a crucial supplement to other forms of insurance, such as health insurance and life insurance, offering comprehensive coverage for unforeseen accidents and their aftermath.

Benefits of Buying Personal Accident Insurance Cover Alongside Term Cover

Buying accident insurance coverage alongside term cover offers numerous benefits that enhance financial protection and provide peace of mind. Below listed are some of them for you to explore:

Comprehensive Protection

Buying an accident cover alongside term cover offers comprehensive protection. While term insurance is essential for ensuring financial stability for dependents in case of the policyholder's death, accidents leading to disabilities or injuries can have equally devastating financial consequences. In these situations, accident policy steps in to fill this gap by providing financial assistance.

Medical Expenses and Rehabilitation

Accidents can cause a significant increase in medical expenses, including hospitalisation, surgery, and rehabilitation. These costs can dig a big hole in your savings and put a strain on your finances. Personal accident cover can help to mitigate this financial burden by covering medical expenses incurred due to accidents. Additionally, it provides financial support for rehabilitation services, including physical therapy and specialised treatments, aiding in the policyholder's recovery process without worrying about the associated costs.

Income Replacement in Case of Disability

Injuries due to accidents can lead to temporary or permanent disability, which can make individuals unable to work. The loss of income that arises due to this can have profound implications for the individual and their family, affecting their financial stability and future plans. Accident policy provides income protection by offering compensation for loss of earnings resulting from disabilities caused by accidents.

Customised Coverage

Personal accident cover, along with term cover, offers customisable coverage options tailored to the individual's needs and lifestyle. Policyholders have the flexibility to choose from numerous coverage benefits, including:

• Accidental death benefit
• Permanent disability benefit
• Temporary total disability benefit
• Medical expenses reimbursement
• Ambulance charges coverage.

This flexibility allows the policyholder to design a comprehensive insurance plan that addresses their specific concerns and provides adequate protection against unforeseen accidents.

Peace of Mind

By combining term cover with accident policy, individuals can achieve comprehensive protection that addresses both life and accident-related risks. This holistic approach to insurance ensures that policyholder's loved ones are adequately protected in all eventualities, offering reassurance and security for the future.

Get the Best Policy Cover Now!

While term insurance forms the foundation of financial planning, accident insurance is equally indispensable in ensuring comprehensive protection. By integrating both types of coverage into their financial portfolio, the policyholder can safeguard themselves and their families against the financial implications of death and accidents.

Now that details regarding what is personal accident cover, one can easily apply for customised term insurance from Niva Bupa and get their accident coverage included. Niva Bupa is the best health insurance company that offers Pan India a cashless network of 10,000+ hospitals. The cashless treatment with the best doctors ensures that the individual can get the best treatment whenever required without stressing about arranging the finances. Furthermore, the 24x7 dedicated customer service ensures that the individuals always remain protected. So, what are you waiting for? Visit Niva Bupa's website and apply for the best insurance policy.