Personal Accident Insurance or accident only insurance is insurance protection which provides compensation in the event of injury, disablement, or death caused solely by violent, accidental, external and visible events. With today’s high deductible medical insurance, a personal accident policy can be a valuable gap filler, especially for a family with children. It is an inexpensive way to leverage your dollars to pay for accidental injuries, the only kind of policy that will pay you to visit the doctor in the event of an accident. Among available insurance policies, it is like the family fire extinguisher, something every household should have.
You can either take a PA policy for yourself or a group policy for your family, protecting you and them anywhere in the world, anytime of the day. PA insurance provides 24-hour worldwide insurance protection.
The scope of cover and scale of benefits differ between insurance companies and you should therefore ensure that you purchase a policy which meets your requirements. The types of coverage normally provided under a PA policy include:
- Accidental death
- Permanent disablement
- Temporary total or partial disablement
- Medical expense
- Corrective surgery
- Hospitalization benefit
- Funeral expenses