According to the World Health Organisation, approximately 1.19 million people die every year due to road traffic crashes. What’s top of that is 92% of the world’s road fatalities happen in low- and middle-income countries. India is also prone to accidents,
Accidents, Fatalities and Persons Injured From 2018 to 2022
| Year | Accidents | % change over the previous period | Fatalities | % change over the previous period | Persons Injured | % change |
| 2018 | 4,70,403 | 0.2 | 1,57,593 | 5.1 | 4,64,715 | -0.6 |
| 2019 | 4,56,959 | -2.9 | 1,58,984 | 0.9 | 4,49,360 | -3.3 |
| 2020 | 3,72,181 | -18.6 | 1,38,383 | -13.0 | 3,46,747 | -22.8 |
| 2021 | 4,12,432 | 10.8 | 1,53,972 | 11.3 | 3,84,448 | 10.9 |
| 2022 | 4,61,312 | 11.9 | 1,68,491 | 9.4 | 4,43,366 | 15.3 |
Hidden dangers of accidents: Risks you should know
Health insurance and personal accident insurance policies provide complete financial coverage to the insured. The policyholder gets financial benefits for accidental death, physical disabilities and body injuries due to the accident. Accidents can affect more than just physical health; their impact can ripple across different aspects of life.
1. Quality of life risks: God forbid, if someone loses a body part and you’ve total or partial disability, then your personal accident cover pays a pre-defined percentage of the SI per the severity of loss. In addition, personal accident insurance coverage will also cover the expenses of prosthetic devices like arms, eyes, and legs and medical equipment like hospital beds under Mobility Cover.
2. Psychological risks: Flashbacks, mood swings, and hopelessness are the psychiatric consequences of road traffic accidents. Post-traumatic symptoms are disabling and may lead to emotional disorders. The survivor may have to face horrific memories and strong emotions of the accident for a long time. Having any health insurance, or specifically accident insurance, provides security and stability when you need it. It ensures that the road to recovery is worry-free and easier.
3. Economic and financial risks: It is very painful to even think about it, but in case of accidental death of the insured, health insurance companies pay the total Sum Insured to the nominated family. We know that nothing can replace your loved one; it is just that you don’t have to worry monetarily, and you can begin your life again in an easier way.
4. Child education: Many personal accident insurance covers ensure children's educational needs are met even after the permanent disability or death of a parent. So, you can drop off the risks of your financially dependent child with an insurance cover.
5. Death of loved ones: This health insurance policy provides financial support to the family and pays the family member the sum insured for the tragic loss. It offers a financial cushion in case of a mishap.
6. Loss of a loved one abroad: In the unfortunate event of the demise of the insured, many health insurance plans repatriate the mortal remains of the insured. The company may pay the transportation cost of the insured person’s body from the place of death to your city.
7. Hospitalisation and diagnostic test expenses: In case of accidental injury, the company will pay for major diagnostic tests and hospitalisation costs. Also, the personal accident insurance policy may pay you the sum insured if there are specified second—or third-degree burn injuries.
More about personal accident insurance coverage
You can easily buy and customise a health insurance policy online according to your budget and the benefits required. Many policies offer worldwide coverage for accidents abroad. Here are key features:
- Coverage includes loss of limbs, burns, disabilities, and broken bones due to accidents.
- The right amount of personal accident insurance coverage should equal 5 to 10 times your annual income. It helps to ensure financial stability while covering unforeseen expenses.
- The coverage amount of an accident insurance policy depends on age, occupation, and medical history.
Documents required to raise a claim for personal accident insurance
To file a personal accident or any health insurance insurance claim, you'll typically need:
- Original policy documents
- Death certificate
- Beneficiary’s ID proof
- Policyholder’s age-proof
- Discharge form
- Medical certificate
- Police FIR (in case of unnatural death)
- Post-mortem report (in case of unnatural death)
Guard against life’s unseen turns
Personal accident insurance provides vital financial security against accidental death or disability. It can cover hospitalisation costs, ambulance expenses, education grants, loss of income, and adaptation costs from the insurance policy. Moreover, a personal accident policy may help you save tax under Section 80D of the Income Tax Act. Choose the best personal accident insurance plan and secure your financial future now!
FAQs
1. Who Can Buy Personal Accident Insurance Cover?
Any individual between 18 and 65 years of age can buy a personal accident insurance cover or a health insurance policy.
2. Can I claim multiple personal accident insurance?
Yes, you can buy multiple health insurance plans for extra protection.
3. What is not covered under personal accident insurance?
Natural death, pre-existing conditions, childbirth or pregnancy, suicide or self-inflicted injuries, and participating in war, riot, or unsafe sports activities; injuries due to consumption of drugs or alcohol are not covered.
No VCCircle journalist was involved in the creation/production of this content.
