Accidental insurance plans, as the name suggests, help buyers receive monetary compensation in case of an accident. Thus, accidental insurance helps buyers shield themselves from life risks and is useful for people who commute daily to work or travel frequently.
What is an accidental insurance plan?
Accidental insurances are policies that are meant to cover the policyholder in case of hospitalizations or death caused to the policyholder due to an accident. The policy compensates the beneficiary in case of partial or total disability, temporary disability, or death due to an accident.
Accidental insurance comes as a single policy. It can also be added as a rider benefit to your base term insurance plan or your health plan in return for a nominal cost.
What is health insurance?
It is insurance that secures you and your family members in case of a hospitalization. Thus, a health insurance plan provides assured coverage to meet the medical expenses in case the policyholder is diagnosed with an illness or meets with an accident that leads to hospitalization.
Benefits of an accidental insurance cover:
- Covers hospitalization costs
- compensates the nominee in case of death due to an accident
- monetary assistance in case of partial or total disability or temporary disability