Personal Accident Policies

We are always told that accidents happen, there is nothing we can do about it, and it’s simply something we have to deal with as a part and parcel of our existence. Do we know for sure if it will ever affect us? No. If we do meet with an accident do we know how it will affect our lives? We cannot. So what can we do in the face of all these variables? We can ensure our families future by obtaining a personal accident insurance policy.

What is personal accident insurance you ask? Like most other insurance policies it is an agreement that is reached by two parties, the insurer and the insured, where the insurance provider or insurer, agrees to provide the insured or his family with financial compensation. In the case of accidental insurance, this recompense is offered in case the eventuality that the insured passes away or is permanently disabled due to an accident by external and visible means.

There are different kinds of personal accident policies that are offered by a number of financial institutions and insurance firms. One type of policy is to provide the insured with cash to cover the expense of medical treatments caused by an accident. In some the cases it may even cover the cost of the period you are unable to go to work, thus allowing a normal environment at home. A number of policies also cover death caused by accident. This means that in the event that the accident causes the death of the insured, his beneficiaries would receive the pre-arranged sum. The third and final policy available is for disability caused by an accident. Here, if the insured is rendered unable to continue a job due to a disability caused by an accident, then the policy will provide him with a certain amount of his insurance amount every month as a kind of income.

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