Accident Insurance helps you prepare for out-of-pocket expenses that can add up suddenly after an accident. It covers emergency treatment, hospital stays, and medical exams, in addition to other expenses that can arise after an accident such as accommodation and transportation. If you are involved in an accident, accident insurance will provide you with cash benefits for any additional expenses that may not be fully covered by your major medical insurance. The cash benefits are sent directly to you and you decide how best to use them.
Various types of accident policies are available that will cover different types of accidents and provide different benefits.
- Accidental Death: In this plan, in case you die in an accident or if the injury in an accident results in death, the next of the kin, that is your nominee will receive death benefits.
- Air Travel Accident: This will give protection in case you die in an air crash. To be eligible for the claim, you should have traveled in a commercial flight. The flight should have been on the scheduled time and you should have paid for your ticket. Many credit card companies offer air travel insurance if you purchase your tickets on your credit card.
Having accident Insurance will give you the peace of mind in knowing that you will have the assistance to pay for those additional expenses that can arise, from initial emergency treatments to physical therapy or follow up. Since the benefits are paid directly to you, you have the power to allocate the funds where they are most needed.