What is personal accident insurance?
Throughout the policy term, personal accident insurance provides financial protection against covered accidents occurring at any time, anywhere in the world, subject to the terms and conditions of the policy. It may provide cover for permanent disability and treatment resulting from an accident, while a benefit may be paid to the beneficiaries if the insured person dies as a result of an accident.
Why it matters in daily life
The risk of an accident is not limited to a particular occupation. It can arise at work, at home, during a journey or in the course of an ordinary movement during the day. The result does not have to be a permanent disability. A short course of treatment, time away from work or a journey cut short can also create a separate cost in the family budget. Which of these costs the policy addresses is understood from the lines of cover, not from a general statement of accident protection.