A Shoppers Guide To Personal Accident Insurance

A personal accident insurance plan offers you protection for all the financial losses

you have suffered as a result of some serious injury or personal accident. It provides you cover for accidents resulting in hospital stays over 24 hours, permanent injury such as loss of limb, hearing or sight. The insurance policy covers all unforeseen events that prevent you to make income. Along with this, you are also entitled to receive hospital benefits in case you are admitted for two or more days following an accident. The insurance plan also pays you a specific amount for everyday up to a stay of maximum for 26 weeks.

An accident insurance plan is available in different coverage levels: silver, gold and platinum. Higher the level more is the coverage and greater are the benefits you can avail. The insurance plan also covers your spouse and children. All the benefits will be paid out in cash which are free from income tax under current legislation. However, they may subject to inheritance tax or any other taxation.

The insurance plan is available for all permanent UK residents who fall in the age bracket of 18 to 69. Children from 6 months to 23 years of age can also be covered if they are in full time education programme. The plan covers accidental death, permanent disabilities, paraplegia, permanent total disablement, loss of one limb, loss of two or more limbs, loss of sight in one or both eyes, loss of hearing in one or more ears, loss of use of an entire shoulder, elbow, knee, hip, wrist or ankle, loss of use of one entire thumb, forefinger, big toe or any other toe and hospitalisation for up to 26 weeks. It covers you against all accidents happening at home or work.

However, an accident cover does not include injuries and accidents resulting from sickness, disease or existing medical condition and reckless exposure to danger or carrying out of an unlawful act. Payments generally reduce to 50 percent if they result from a motorbike accident. An accident insurance plan is not an income protection plan; therefore, you must carefully understand the inclusions and exclusions of the policy before actually purchasing it. The insurance premium varies depending upon the level of cover purchased. The best part is that you do not need to undergo any medical examination to take up this policy. You simply need to select a reputed insurance provider and submit your requirements online by filling up a short form. You can then purchase an adequate cover to insure you.

by: Cruse Loyle

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