Accidental Insurance - must for everyone
Accident means an unexpected or sudden event which occurs by violent or external means and results in body injuries. It does not include prolonged illness or disease. It is unknown and can happen anytime, anywhere and by any means.
It is easier to obtain accident coverage for the self-employed individuals. There are various packages available in the market, with little effort and research the best suited package can be taken to ensure security to your self-employed operation. To get the best deal, collect quotes from different companies and compare them before purchasing an accidental policy.
Obtaining accident insurance is important and necessary as it protects small business owners and the self-employed from huge losses occurring due to unexpected casualties and accidents which are not covered under the normal self-employed insurance. Many benefits are provided to the family members as well. Applying as a family or group will help to get discounts. The benefits of accidental insurance increases if it is renewed without any break every year and if remains claim free.
Following Points describe the importance of getting accidental insurance:
It helps to easily pay hospital and medical bills.
Benefits are also given even if accident occurs outside the work.
It covers unlimited number of accidents occurring.
It also insures for loss or dislocation of limbs, fractures or even death.
It provides lump-sum payment to the surviving family of the victim and keeps them financially stable.
Burial or cremation expenses are good reasons to opt for such accidental policy.
For almost two years, a weekly benefit is provided if victim is unable to work.
Permanent total and partial disablement - 100% sum insured is provided in case of total disablement during an accident and may not be able to work in future. It also includes complete and irrecoverable loss of sight, hearing and speech
Education Grant - Some policies even include paying educational grant to the Insured parents’ dependent children who are in full term education.
Deciding accidental policies is very important to get maximum benefits out of it. It can be decided on the risk in doing the work by the Insured in the following manner:
Normal risk – This includes the people working in offices like banks, accountants, doctors and who are in administration functions.
Medium risk – This includes people working in the field as labor.
High Risk – This includes people who work in circus, mines etc.
Realizing Importance of accidental insurance:
A self-employed worker falls off the ladder while at work and breaks his arm. He is recommended bed rest and is unable to work for next 2 months. He has opted for accidental policy which pays him sufficient amount every week to meet his daily need. In case, if he didn’t opted for this, he would not have got a single penny and his living would have become difficult.
If any unfortunate accident happens, the main source of income is lost for the family. It is very important that the family members are not burdened financially, which will make their life uneasy and uncomfortable. The compensation will help the members to go through their hard days with some ease and money in hand. So, getting accidental coverage is no waste of money and opting it must be made compulsory.
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