People are constantly traveling to and from their workplaces on the roads in the morning and evening. Consequently, the bad news is accompanied by the lack of a reliable source of income.
There are 5 ways to keep you and your family safe.
Every day, thousands of accidents occur on Indian highways. According to the Ministry of Road Transport and Highways, 1.46 lakh people died in traffic accidents in India in 2015. This represents a 4.6% increase from 2014's 1.39 lakh casualties.
Even though these figures are significant, they do not provide the entire picture. What if the casualty is the family's breadwinner? In the morning and evening, the roads are congested with people traveling to and from work. Along with the bad news comes the lack of a consistent source of income. Their children's schooling may suffer as well. In many circumstances, doctors successfully save the victim's life, but the sufferer cannot work owing to disability. As a result, the family requires funds to care for them as well.
How do you safeguard your loved ones in this terrifying scenario? The answer is straightforward: health insurance and individual personal accident cover is your best bet. It is cost-effective, adaptable, and meets your family's needs.
Let us explain how health insurance plans with personal accident cover can assist you in these instances.
Disability insurance
Is the policyholder entirely or partially disabled as a result of the accident? This form of policy will then provide financial assistance. It is important to note that the coverage applies regardless of the sort of damage you have. In an accident, you could receive serious or minor injuries. You would still be protected.
Medical expenses for an emergency accident
Say you've been in an accident and require immediate medical attention. Then your policy will kick in. It covers medical expenses that are not the result of a pre-existing condition. This is in accordance with the policy guidelines.
Compensation for income loss
As previously stated, if a policyholder suffers a fracture or a handicap such as loss of vision, speech, or hearing. Insurance can assist them in this regard. Assume a person suffers from a momentary total impairment. The insurer will then pay a weekly benefit.
Advantages of Child Education
Personal accident cover will ensure that the education of the victim's children is not jeopardised. The insurance will pay an education benefit for the children in this case. This might be 10% of the covered principal amount or the actual tuition fee imposed by the university. The insurance will pay the lesser of the two amounts. Some plans provide Rs 5,000 for the repatriation of the insured's remains.
Benefits of home and vehicle modification
When a person is paralysed in an accident, he becomes wheelchair-bound. Many insurers take this into account. They compensate him for modifying his vehicle and residence. The modifications are required to accommodate his physical condition and needs. This compensation can be really beneficial.