Accidents can happen any day any time and anywhere. We cannot avoid the impending dangers, but we can decrease the losses and damages. Accident insurance can cover you and your family from financial loss due to an accident. Accident insurance is often referred to personal accident insurance.
It also provides financial security against treatments, medical expenses, and hospitalization, caused by an accident. Accident insurance policies cover a person for any injury, caused by an accident. The policyholder will buy the policy while the insurance companies will pay off the medical and hospital bills in favor of the policyholder. In case of accidental death of the policyholder, the insurance company provides cash benefits to the members the policyholder's family. Insurance for accidents are applicable for 24*7.
The terms of conditions of the insurance policy may differ from one insurance provider to another. The insured person receives his cash benefits every month, if he meets with an accident. The cash benefits will continue coming to his account until he will fit enough to work after the accident. The cash benefits are not considered as taxable. The monthly cash benefit does not go beyond post-tax earnings minus state benefits of the policyholder. If the person dies due to the accident or an accidental injury, his cash benefits will be sent to his family in a lump-sum amount.
Accident insurance policy is a vital decision of your life. There are many policies in this category, offered by different insurance companies and bank. However, you should choose the one, which will suit your wants and needs. Moreover, choose a feasible policy, which you will not find the monthly premium difficult to pay off. There are many expensive policies, which cover all the risks, but these policies may not be suitable for you. For example, if you are going to a personal accident policy, which includes adventure sports, the policy will cost much higher than a general one. If you do not go for adventure sports, this policy would be wasted for you.
There are more than nine types of accident insurance available in the Indian market. Some of the most commonly availed policies are mentioned below:
Individual or personal accident insurance: This insurance policy can be opted by an individual. Generally, this policy covers spouse and children. However, several activities are banned under this policy such as adventurous sports.
Children accident insurance: The parents for their children do this policy. Those parents, who are unable to work for their children or faced an accident, buy these policies for their children.
Group accident insurance: This insurance policy has been taken up by the corporate houses for their employees to cover them against any accident.
Team accident insurance: This insurance policy can be taken up by a sports team. With a team accident insurance policy, an organizer can secure an entire team. This is feasible for the organization, since it does not have to pay for separate team members.
Professional accident insurance: Professional accident insurance is best suitable for the self employed professionals. There are many people, who are engage into business or self employment such as lawyer, sportsperson, actor, doctor, tutor etc. This policy is ideal for them.
Travel accident insurance: This insurance policy will protect the policyholder from any financial danger in case he meets with an accident during a vacation.
Some other important accident insurance polices are:
Over 50 accident insurance
Car accident insurance
Self-employed accident insurance
Some of the best accident insurance providers in India are:
ICICI Lombard General Insurance Co. Ltd.
Star Health & Allied Insurance Company Limited
The New India Assurance Co. Ltd
HDFC ERGO General Insurance Co. Ltd
The Oriental Insurance Co. Ltd.
United India Insurance Co. Ltd
Cholamandalam MS General Insurance Co. Ltd.
Apollo DKV Insurance Company Limited
IFFCO TOKIO General Insurance Co. Ltd.
TATA AIG General Insurance Co. Ltd.
Reliance General Insurance Co. Ltd.
National Insurance Co. Ltd.
Bajaj Allianz General Insurance Co. Ltd.
Royal Sundaram Alliance Insurance Co. Ltd.
source: http://business.mapsofindia.com/insurance/accident-insurance/
It also provides financial security against treatments, medical expenses, and hospitalization, caused by an accident. Accident insurance policies cover a person for any injury, caused by an accident. The policyholder will buy the policy while the insurance companies will pay off the medical and hospital bills in favor of the policyholder. In case of accidental death of the policyholder, the insurance company provides cash benefits to the members the policyholder's family. Insurance for accidents are applicable for 24*7.
The terms of conditions of the insurance policy may differ from one insurance provider to another. The insured person receives his cash benefits every month, if he meets with an accident. The cash benefits will continue coming to his account until he will fit enough to work after the accident. The cash benefits are not considered as taxable. The monthly cash benefit does not go beyond post-tax earnings minus state benefits of the policyholder. If the person dies due to the accident or an accidental injury, his cash benefits will be sent to his family in a lump-sum amount.
Accident insurance policy is a vital decision of your life. There are many policies in this category, offered by different insurance companies and bank. However, you should choose the one, which will suit your wants and needs. Moreover, choose a feasible policy, which you will not find the monthly premium difficult to pay off. There are many expensive policies, which cover all the risks, but these policies may not be suitable for you. For example, if you are going to a personal accident policy, which includes adventure sports, the policy will cost much higher than a general one. If you do not go for adventure sports, this policy would be wasted for you.
There are more than nine types of accident insurance available in the Indian market. Some of the most commonly availed policies are mentioned below:
Individual or personal accident insurance: This insurance policy can be opted by an individual. Generally, this policy covers spouse and children. However, several activities are banned under this policy such as adventurous sports.
Children accident insurance: The parents for their children do this policy. Those parents, who are unable to work for their children or faced an accident, buy these policies for their children.
Group accident insurance: This insurance policy has been taken up by the corporate houses for their employees to cover them against any accident.
Team accident insurance: This insurance policy can be taken up by a sports team. With a team accident insurance policy, an organizer can secure an entire team. This is feasible for the organization, since it does not have to pay for separate team members.
Professional accident insurance: Professional accident insurance is best suitable for the self employed professionals. There are many people, who are engage into business or self employment such as lawyer, sportsperson, actor, doctor, tutor etc. This policy is ideal for them.
Travel accident insurance: This insurance policy will protect the policyholder from any financial danger in case he meets with an accident during a vacation.
Some other important accident insurance polices are:
Over 50 accident insurance
Car accident insurance
Self-employed accident insurance
Some of the best accident insurance providers in India are:
ICICI Lombard General Insurance Co. Ltd.
Star Health & Allied Insurance Company Limited
The New India Assurance Co. Ltd
HDFC ERGO General Insurance Co. Ltd
The Oriental Insurance Co. Ltd.
United India Insurance Co. Ltd
Cholamandalam MS General Insurance Co. Ltd.
Apollo DKV Insurance Company Limited
IFFCO TOKIO General Insurance Co. Ltd.
TATA AIG General Insurance Co. Ltd.
Reliance General Insurance Co. Ltd.
National Insurance Co. Ltd.
Bajaj Allianz General Insurance Co. Ltd.
Royal Sundaram Alliance Insurance Co. Ltd.
source: http://business.mapsofindia.com/insurance/accident-insurance/
PLEASE HELP US SHARE THIS ARTICLE
0Awesome Comments!