Home is a place where we feel safe and secure. Away from the hustle and bustle of life, we find solace in the favourite corner of our homes. The love and security we feel at home is unparalleled. But what if some unfortunate incidence happens within the four walls of our home? Several mishaps can take place inside the boundaries of your house, such as- slipping on water and getting injured, getting shocked from electric appliances, etc. It's possible to fall prey to these accidents while doing your daily household chores. As we all know that misfortunes come unannounced and can strike anyone at any time. Likewise, while driving your car equipped with the best safety features, adhering to all traffic rules and staying fully aware of all safety instructions, it is possible to get into a crash. When such unfortunate incidences take place, a personal accident insurance policy is your real saviour. A personal accident insurance policy offers financial reimbursement in the event of bodily injuries leading to total/partial disability or death caused due to accidents
There are several misconceptions about personal accident insurance, and revealing the truth behind them can be tricky. But you don't need to worry! We're here to break the news to you. Listed below are three common myths about personal accident insurance-
Personal Accident Insurance is Expensive
Several insurance companies offer personal accident covers. Due to the high level of competition, the premium of a personal accident insurance cover is quite affordable. You can either buy it as an add-on cover or get an independent policy. With the minimum premium amount, you can assure your financial stability if you get injured or any untoward incidence happens in an accident.
Personal Accident Insurance is Avoidable
Do you know, not all life insurance policy covers you for costs incurred in an accident. Some personal accident policies even offer coverage against permanent disability and irrecoverable loss of limbs and sight but do not provide extra cover for accidental costs and the loss of income from a temporary disability. In case you meet with an accident or come down with a fracture and could not go to work for some time, then you have to shell out thousands of rupees from your savings to cover the cost of your treatment and loss of your income. A personal accident insurance policy comes to your rescue at this time as it financially covers you in case of hospitalization due to an accident.
Personal Accident Insurance Doesn't Offer Enough Protection
A personal accident insurance policy typically covers accidental death, partial/permanent or temporary disability. It also provide added benefits like worldwide coverage, reimbursement of accidental medical expenses, and education fund for children, if you are unable to provide for your family. A personal accident insurance policy lessens the financial burden on your family by protecting them from medical costs brought on by an untoward disaster.
Now that you are clear about the coverage offered by a personal accident insurance policy, you should buy one for you and your family even if you have a separate health insurance in place. It's better to be cautious than regret later.