KNOW THIS BEFORE HEALTH INSURANCE

Accidental policy-Need of the hour

According to data released by ministry of road and transport, nearly an average of 1.5 lakh people meet with accidents every year. According to the Ministry the loss incurred for GDP is 3% and roughly 55, 000 crore.

The various reasons for the accidents areas follows

1.Negligent driving by the driver

2.Drunken driving

3.Jumping Signals

4.riding without helmets for two wheelers

5.Driving without wearing seat belts.

Road accidents are more prevalent in cities rather thantowns and villages, Accident can happen at any time or to anyone.

Why must one buy accidental insurance policy?

The policy is designed to cover compensation in terms of accidental death , Impairment of the body or minor recoverable injuries.

1.Accidental death:

Sudden loss of ones loved ones certainly causes disturbances in the family, The pain can be crushing to the family psychologically and financially, In these cases during the policy period, the nominee holder of the insurance policy gets the entire amount mentioned in the policy.

2.Permanent Total Disability:

If the patient becomes permanently disabled due to the accident for a period of 12 months or more, This may be resulting in permanent loss of eyesight, loss of limbs. The policy holder gets 100% amount

3.Permanent Partial Disability:

In terms of partial disability, the insurance is compensated depending upon the extent of the disability of the victim and total amount is reimbursed.

4.Minor Injuries:

In case of minor injuries undergone by the victim, A weekly payment subjected to the maximum limit is given to the victim, until the person recover from his injuries and is able to go back to work again.

How to choose an accident policy?

There are various conditions given to choose insurance policy.

1.A Health insurance covers various aspects of the insurance, However having an accidental plan along with the health insurance gives the policy holder an advantage in terms of compensation coverage.

2. Variety of insurance plan:

The person can either get himself a personal accident or a family insurance plan, In terms of family insurance plan , the person may buy a plan which will safeguard the entire family against all the accidents if incurred.

3.Premium:

The best aspect of the premium should be the coverage of the insurance policy and should have reasonable price. There should be a balance between coverage offered and price of the premium.

Few of the insurance schemes are , Personal Guard-Accidental Health insurance by bajaj allianz etc

4.Policy Coverage :

An accident policy must cover the factor either permanent or partial disability, minor injuries which includes temporary disability, broken bones. unlike a simple accidental policy which covers only accidental death insurance

5.Additional Benefits:

The accidental riders are bulletproof the insurance policy and the include daily hospital expenses, child education, ambulance expenses, burns, broken bones etc. The addons vary from policy to policy and company to company

How to file an accident policy?

In case of death of the policy holder, These are the measures to be taken by the nominee for the insurance policy

1.An FIR report of the accident should be filed and documented

2.Death Certificate

3.Medical Certificate of the victim

4.Insurance policy number of the account holder.

Incase of Disability or Minor Injuries

1.Insurance policy number of the account holder

2.Date and time of the Incident

3.Medical Report

3.Detailed Incident of the accident, FIR if it is filed in the nearest police station

4.Contact number of the victim/nearest relative.

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