Personal Accident Policy: Coverage To Accidental Expenses
Print View | Html View
Written by: kamleshjat
Total views: 109 |
Word Count: 504 |
Date: Fri, 27 May 2011 |
0 comments
Due to a spate in accidents in recent times, a normal medical policy is ineffective in providing sufficient coverage. On the other hand, a personal accident insurance policy helps in covering your expenses from an accident, which may be caused by external circumstances. In such a case, the health insurance company shall pay to the policyholder or his legal heirs, as the case may be; the sum assured set forth in the insurance policy. The impact of accident can also lead to disablement and the insurance company will be liable to pay compensation on the basis of it.
Types of Disablement-
Permanent Total Disablement- It means, the policyholder is suffered from a permanent and irrecoverable disablement and he/she will not be able to engage in any gainful employment in near future. The example of permanent total disablement is paralysis.
Permanent Partial Disablement- In this, policyholder is suffered from a permanent disablement, which is partial in nature and can be recovered from. For example, loss of a limb.
Temporary Total Disablement- Here, the disablement is for a temporary period of time
Additional Benefits of Personal Accident Insurance-
Insurance company reimburses expenses, which are incurred for carriage of policyholder’s dead body to his residence.
Insurance company facilitate education fund for the dependent children, in case of policyholder’s death or permanent total disablement.
The earned cumulative bonus will be paid, if the policyholder renews the policy within 30 days after its expiration.
Some exclusions of Personal Accident Policy-
No compensation will be paid on death, injury or disablement of the policyholder, if:
It is intentionally done, as in case of suicide attempt.
It is under the effect of drugs or liquor.
Death is during a job in the armed forces.
It is resulted from the breach of contract.
It is resulted during pregnancy or child birth.
Few Popular Personal Accident Insurance Policies in India-
Chola Accident Protection Plan
Reliance Individual Personal Accident Policy
ICICI Lombard Individual Personal Accident Insurance Policy
HDFC ERGO health insurance, Accident Protection Plan Hospital Cash
Ratings Given to Different Occupations-
Insurance company rates varied occupations on the basis of risk factor involved in them. It is not feasible to fix a rate for every professional; therefore, occupations are categorized into groups.
Group I (less prone to risk)
It includes doctors, teachers, engineers, bankers and people working in administrative functions.
Group II (moderate risk involved)
It includes contractors, garage & motor mechanics, truck drivers, machine operators, engineers, builders, veterinary doctors.
Group III (more prone to risk)
It includes people working in underground mines, explosives, circus and similar hazardous jobs.
Apply for health insurance & policy online and compare HDFC Ergo health insurance including the information of your choice of policy.
Source: Personal Accident Policy: Coverage To Accidental Expenses
http://www.financebusinessarticles.com
Rating: Not yet rated
More articles in this Category
1 : Asia Pacific Reinsurance Market Outlook: Edition 2012 - Propelling Short-tailed Reinsurance Investments
Bharatbook.com introduces a report " Asia Pacific Reinsurance Market Outlook: Edition 2012 " this report covers the reinsurance market of countries such as Japan, China, Korea, India, Australia, Singapore, Taiwan and Thailand.
2 : Denver Mortgage Rate Tip: Simplify Your Savings with Seven Steps!
Simplify Your Savings with Seven Steps in order to get the best Denver mortgage rate. Denver mortgage rates can be lower the more money that you are able to put down, so saving money can really help you save thousands on your home loan in the long run. Saving cash doesn't have to become
3 : Danger Assessments in the Workplace Should be Managed
It is a great concept for any small business to undergo a danger assessment as claims for compensation from injured workers are becoming a lot more commonplace. Any good property management enterprise really should be capable of arrange a risk assessment of your workplace with all the minimum of fuss and paperwork.
4 : 5 Tips on how to Deal With Do Not Disturb Sign - Incoming E mail, Mobile phone Phone calls, and folks
Basex, a whole new York research organization, identified that staff worked on a challenge an average of 11 minutes previously currently being distracted. After interrupted, employees took 25 minutes to return to their unique activity, according to scientists Gloria Mark and Victor Gonsalez with the College of California at Irvine.
5 : Major Medical Health Insurance NZ Policies and Plans
In New Zealand health insurance policies tend to be one of two types: Major Medical Health Insurance and Comprehensive Health Insurance. Compare the health insurance quotes and policies with its types then go for buying most appropriate New Zealand health insurance.
6 : Property Managers - Not the Emergency Services!
Selling up or renting your home or apartment out - whether or not you are intending to do either of those you'll no doubt be thinking of how much you will be capable of get for your house.
7 : Selling up or renting your home or apartment out - regardless of whether you're intending to do either of those you may no doubt be thinking of how much you will be capable of get for your property.
If you are going to put your spot out as a rental property then it ought to be presented in the very finest condition, even if you're going to leave it to a property management firm.
8 : Getting a Welcoming Shop Front or Front Workplace is often a Crucial Shop Fitting Function
Psychology appears to be a crucial function behind what makes shop designers and shop fitters believe on the subject of shop front design. It is all inside the mind!
9 : The Cause for Expert Renovation
In case you have inside your mind the putting of the property having a property management organization to oversee its daily administration or possibly you were thinking of putting it in the marketplace, maybe you ought to also be considering carrying out any renovation work which has to be carried out also.
10 : Selling up or renting your house or apartment out - no matter if you're intending to complete either of these you might no doubt be thinking of how much you'll be capable of get for the property.
In case you are going to put your spot out as a rental property then it really should be presented within the pretty finest condition, even when you will be going to leave it to a property management corporation.
11 : Property Managers - Not the Emergency Services!
For anyone who is going to put your location out as a rental property then it need to be presented in the extremely most effective condition, even if you happen to be going to leave it to a property management company.
12 : How you can Get a very good Return on Your Managed Rental Property
When you have a purchase to let property or even a home or flat which you are thinking of renting out and managed by a good property management company, do not forget you are going to cut back on initial costs too as attract a substantially better class of tenant when you prepare your property well beforehand.
13 : Passive earnings is a word made use of to outline the sort of income gained from any sort of real estate which can be administered by a property management qualified.
The owner isn't expected to become present or take component within the activities which bring inside the revenue. This could contain rent collecting, common maintenance, and economic accounting for income received and payments created.
14 : Japan by Edwin Europe. Beautifully shot web video from artisan denim makers.
Arguably more art than advertising, this web video for Edwin Europe is a pleasure to watch an absorb. I feel smarter, more cultured and eerily refreshed just from having seen it Japan from Edwin Europe on Vimeo. Now not all online videos or television commercials need to be like this. This particular web video is
15 : Dentistry in New York
In every part of the world today, professional dentistry plays a vital role in improving the appearance and dental health of an individual.
