Every parent’s responsibility is to ensure that his/her family does not have to face any negative impact from a probable break in income, especially in the unfortunate situation of an accidental death or disability. And while there are several forms of monetary security that they can be provided with, a good health care insurance plan is one such reliable solution.
One of the many types of health insurance plans that can make a big difference to securing the future of your family is that of a personal accident insurance policy. The biggest advantage of this type of health insurance policy is that it covers several accident related aspects, which would not be covered otherwise under a regular family health plan.
These days, with the rising number of accidents, it is crucial to have an insurance cover that takes care of your dependents in case of any misfortune arising from any such unforeseen situation. Most people drive to work on a regular basis, or use public transport. Innumerable mishaps on the road bring home a realization of the worth and advantage of a personal accident cover.
While a regular medical insurance plan will give you financial security in terms of illness or hospitalization, a personal accident cover can give you up to 125% of the sum insured, in case of a permanent total disability. Additionally, such a cover also includes any medical/hospitalization expenses arising from an accident.
What also matters largely in such situations is ensuring that your children are well taken care of, especially in terms of monetary provision for their education. The personal accident cover provides the dependents of the policyholder with a special bonus for children’s education. This feature covers up to a certain amount/percentage of their education, thus making it a worthwhile feature in an insurance plan.
It is a common misconception that we face about multiple types of health care insurance plans being an unnecessary expense. To understand the full worth of the money you would spend on it, consider this example.
A father, 35 yrs of age, has a policy with a sum insured of Rs. 10 lacs. A simple premium calculation for this amount would make you realize that the amount spent on the premium is less than Rs. 5 a day. Looking at the bigger picture, this would be the best 5 rupees anyone could possibly spend on a daily basis.
To learn more about the features of personal accident cover, click here.