Top 4 Reasons Why Personal Accident Insurance is a Wise Idea
insurance (Photo credit: Alan Cleaver)
Most of us know about the importance of insurance policies that deal with life insurance or health insurance. These are the big ones that everyone is advised to look into in order to protect themselves against hospitalisation and medical expenses or buffer the risk of death and liabilities arising due to it. But there is one sort of coverage that is often overlooked – namely ‘personal accident insurance’.
A usually inexpensive sort of coverage, personal accident insurance is offered by most leading insurance companies, Dubai insurance firms and the like.
Personal accident insurance and schemes in general are aimed to cover the policy holder from injuries, disability or death due to accidental reasons. Minor and major personal accidents are included in the coverage and it is a good policy to consider to complete you insurance portfolio. In many cases personal accident insurance premium is generally much cheaper than other forms like life insurance, so it is an affordable addition to keep yourself covered.
Let us take a look at some of the top reasons to consider personal accident insurance for yourself and / or your family members today –
- Well firstly, accidents happen; major or minor, life is unpredictable enough and unforeseen accidents add to the mix! It could be injuries you sustain when you fall of your bike or injuring your foot during a vigorous kick boxing class. It could be more major like injuries sustained when playing a sport or indulging in a physical activity that leaves you bed-ridden or a tragic disability due to a mishap. Personal accident insurance helps you financially through a temporary or permanent disability and provides a little support in the days after an accident. This becomes so important when you are injured and bed ridden with your pay cheque slowly getting docked or if a disability prevents you from going back to the profession you are in currently. Some policies also offer options for temporary disabilities and cover against loss of your earnings.
- Secondly, personal accident insurance is a good way to fill a hole when the accident in question is a little murky in the sense that you cannot ascertain who or if anyone was truly at fault for e.g. When you are walking through a building renovation site and some debris falls on you and injures you. You cannot always ascertain who was at fault here. Sometimes it is more clear cut like a car accident caused by rash driving on one driver’s part, but when it is not so clear cut your personal accident insurance cover will help tide you over financially.
- Thirdly, as mentioned earlier most insurance companies offer very affordable personal accident schemes that are not a big additional drain on the pocket. The slight increase with the premium payment may be well worth the peace of mind and cover it affords you. You can also find family schemes for personal accident insurance or packages that bundle it with other covers, offering a more attractive rate and further discounts.
- Policy holders like yourself opt for life insurance, home insurance and health insurance etc. to help protect themselves and their families, so why not look at something that will provide you with all more coverage and one that fills any possible gaps.
Talk to your insurance company about the personal accident insurance policies they offer. Most insurance companies look at factors like your occupation, lifestyle, working conditions and the like when ascertaining your premium rates.
Bio -Rasheed Akhtar has been an insurance agent in the UAE for the past 8 years. He is also and avid writer and contributes many articles on subjects like Dubai insurance, home insurance policies and health schemes for various publications.
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Category: Insurance
Life is unpredictable and the pace at which we live, we should all get insured surely. Today the work life is so stressful for most of the people, the personal life is filled with bills, duties, mortgages, etc. We cannot perform at all aspects of our lives. Insurance makes sure, that in case something, somewhere goes wrong, at least the family we leave behind gets compensated monetarily. The loss of the person is irreplaceable, but money does help to fill in as far the financial aspect goes.
Hi Jack. We usually just insure for those things that have a higher probability of occurring or are forced to by law, like car insurance. Other insurances like term life life insurance are cheap enough to be affordable. But disability and health insurance are just too expensive on top of all the other things we need to buy in our lives.
Many times we take it for granted that nothing will go wrong in our lives, but no one can beat destiny, bad luck or sheer negligence of humans. Beit because of either of the reason sometimes, somethings go wrong and we do not know what to do. A simple mistake on our parts or on the part of others, may leave us with a lifelong disability or even mortality. What can the family of the person involved in the accident do, besides crying if there is nopersonal accident insurance which we have taken from a reputed firm and not before it too late. Paying premiums for all those years can seem stupid and a bad investment, but it holds true when something actually goes wrong.