Personal Accident Insurance or PA Policy || Today we will talk about Personal Accident Insurance Policy and know What is Personal Accident Insurance, it has some kind of coverage and benefits, how is it different from other insurance, and also we will know what is Premium in it.
Insurance
A person takes many Types of Insurance to keep his family's financial system running smoothly in times of unexpected, such as life insurance, Health insurance, property insurance, insurance there
It is very necessary to take insurance for the financial security of your family. There are many types of insurance, one of which is important personal accident insurance.
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| Personal Accident Insurance or PA Policy |
What is Personal Accident Insurance / PA Policy.
Personal accident insurance is also called PA policy in easy language. In a personal accident insurance policy, there is a legal policy or contract between the insurance company and the individual person in which the insured person pays the premium from his salary every month. In return, the insurance company provides financial assistance to the insurance holder in case of an accident (in prescribed cases).
Life is very uncertain. We do not know what is going to happen in the next time. Sometimes time is also expensive, that means hospital expenses, operation expenses, ambulance expenses are very expensive in an accident. Even for small problems, hospital bills touch the sky. In this condition, only insurance is an economic support that comes out of the premium you have paid, therefore every person must take insurance.
According to a fact, there are about 72 road accidents in India every hour, in which many people die and how many people suffer from permanent disability.
Types of accident (PA policy)
Accident can happen to anyone, that's why an accident policy should be taken. Personal accident insurance policy proves to be the most useful in the economic crisis due to accident.
Personal accident insurance policy covers various types of accident such as road accident, rail accident, air crash, fall from stairs, fall from roof or collision injury, snake dog bite, drowning in water, burning in fire, etc. These accidents cover the personal accident insurance company.
A personal accident insurance policy never covers these things. - Due to accident while driving drunk, in case of involvement in criminal law activity, suicide, accident due to mentality, death due to poisoning etc.
Coverage and Benefit of Personal Accident Insurance
Personal accident insurance mainly covers four points from which the insurance holder can get a benefit in lieu of his premium which is as follows
- Accidental Death
- Temporary Disability
- Permanent Total Disability
- Permanent Partial Disability
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| Coverage and Benefit of Personal Accident Insurance |
Accidental Death
We know that the death of a person cannot be brought back at the cost of any insurance, only the financial condition of his family can be handled in the absence of that person. Under the "Accident Death Benefit", the family of the insured is paid the entire amount of insurance under the policy by the insurance company in case of death of the insured in an accident.Temporary Disability
This is a special cover of this policy that makes it different from other insurance. Most of the claims in personal accident insurance policy come from this. When a insurance holder is in a hospital due to medical emergency, the doctor gives him a bed rest due to the emergency, which makes him unable to go to his employment or service for some time. If the insurance holder's income stops due to the bed rest, then "Weekly Benefit Income" is given by the Personal Accident Insurance Company in this subject, in which compensation is given every week according to the policy. This means that even if you are not going to work, your income keeps going on.
In the insurance policy of twenty-five lakes, about five thousand rupees per week and maximum is provided for 100 weeks.
Permanent Total Disability
Permanent Total Disability means that when the insurance holder loses two main body parts in an accident such as both hands, both legs, both eyes etc. or any disability due to an accident whereby the insurance holder may not be able to work throughout his life. In this case the entire sum of insurance is given to the insured as per the insurance company policy.
Permanent Partial Disability
Permanent Partial Disability means that the insurance holder loses an important part of the body in an accident such as the hands, feet, eyes, or any other organ that make them become disabled. In such a situation, the sum assured is given according to the condition of the insured.
It has four main advantages, besides many other benefits such as Ambulance expenses, Hospital options, Medicine expenses, Child education fund, Daily case, buying blood, hospitalization expenses, etc.
Premium of Personal Accident Insurance
Premium of Personal Accident Insurance
In Personal Accident Insurance, the premium paid by the insurance holder is much lower than the sum assured received. For example, the cover of twenty five lakhes is only eight rupee per day, however there is a slight difference in premium depending on the company and coverage. Even then its premium is the cheapest and beneficial.
You can also include your wife and children by looking at a small extra premium in this policy.
This policy can be taken by anyone between 18 and 70 years of age.
Difference between personal accident insurance and other types of insurance.
Life insurance provides an insurance benefit after the death of the insured, although an accidental death and disability benefit rider is available in life insurance but the insured person or family benefits in the event of death or complete disability due to accident.
When it comes to health insurance, it fully covers the health related expenses but the insurance company does not help in any way when the income is closed due to accident.
So today we told you all the important things related to Personal Accident Insurance or PA Policy so that people become aware. Today's blog[ Personal Accident Insurance or PA Policy.], how did you like us, tell us through the comments and do not forget to subscribe to our email news feed
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