Get Useful Tips About Insurance Topics - Discussed At Holdingcover.com

PERSONAL ACCIDENT INSURANCE

An individual may lose substantial sums of money which could have been earned had he/she not been incapacitated, if he/she meets with an accident and becomes disabled. Furthermore, if an individual dies as a result of an accident, his/her family would be deprived of further means of support.

Personal accident insurance helps alleviate such tragedies. For a small premium, an insured individual will receive some monetary compensation for disability and medical expense, and for loss of life due to an accident, his/her family will be compensated for the loss of their bread-winner. The personal accident insurance policy is designed to suit individual needs of the insured person where he can select the sum insured of his choice.

What it covers

The policy covers bodily injury caused solely and directly by accidental, violent, external and visible means resulting in the death or permanent disablement(eg. loss of arms, blindness, deafness)

The policy cover is on a 24 hours a day basis covering accidents during the cause of employment as well as at home or in the course of traveling to and from the place of work and during social or sports activities.

Temporary Total Disablement/ Temporary Partial Disablement

* Temporary Total Disablement

The insurance company will pay the amount insured per week if the insured is wholly and continuously disabled and prevented from performing each and every duty pertaining to his occupation.

* Temporary Partial Disablement

The insurance company will pay half the amount insured under Temporary Total Disablement per week if the insured is performing some but not all the duties pertaining to his occupation.

Medical Expenses

The insurance company will reimburse the insured the expenses incurred on medial or surgical treatment after the accident up to the sum agreed upon.

Exclusions

Personal accident insurance does not cover death or disablement or any other loss caused by or resulting from any one or more of the following:-

* Insanity; intentionally self-inflicted injuries, suicide (whether felonious or not) or any attempt thereat, while sane or insane; provoked assault
* Any bacterial infection other than bacterial infection occurring in consequence of an accidental cut or wound; venereal disease or any disease; hernia however caused
* Pregnancy childbirth, miscarriage notwithstanding that such loss may have been accelerated or induced by accident
* Accident occurring while the insured is in the service or duty with the police or armed forced of any country
* While operating or riding a motorcycle(whether as driver or passenger); professional boxing or wrestling, football, racing of any kind, other than on foot; polo, snow or water skiing, underwater activities involving use of underwater breathing apparatus, ski jumping, snow or ice sports(eg. ice skating), mountaineering, hunting, sky diving, hang gliding; while using wood working machinery driven by mechanical power or involved in timber or logging operations
* While the insured by mental unsoundness or by intoxicating liquor, narcotics or drugs is rendered less capable than usual of taking care of him/herself
* While committing and attempting to commit any unlawful act
* Declared or undeclared ware or any act thereof, invasion, act of foreign enemy, hostilities, civil war, rebellion, revolution, insurrection, military or usurped power, riot, strike or civil commotion
* While traveling in an aircraft as a member of the crew, except only as a fare paying passenger in an aircraft licensed for passenger service and operated by established airlines. For the purpose of this exclusion, the insured would not be covered if he is involved in any technical operation or navigation whilst in the aircraft
* Ionizing, radiations or contamination by radioactivity from any nuclear wasted from combustion of nuclear fuel solely for the purpose of this exclusion, combustion shall include self-sustaining process of nuclear fission; nuclear weapons material

Read more about insurance and safety for women drivers.

Read how car finance calculator can help to save money on car loans.