Does Health Insurance cover accidental Injuries

Have you invested in a Health Insurance Policy and wish to know whether it covers accidental injuries?

Therefore, to avail yourself of the benefit of accidental coverage, you have to add an accidental coverage rider along with your health insurance policies. However, the cost of the rider may vary depending on the insurer, and it may merely cost you up to INR/- 2,000 to 2,500 annually.

Remember that insurers do not provide personal accident coverage on basic health insurance plans. To avail of this cover, you’ve to opt for a personal accident insurance plan. It offers a lump-sum compensation in individual transactions to cover accidental medical expenses.

To know more about coverage for accident injuries, keep reading the subtopics below-

What is considered an Accidental Injury?

An accidental injury occurs due to an unexpected or unforeseen mishap without the will of the injured party. For instance, unintentional injuries include falls, cuts, road accidents, fire burns, bites, stings, drowning, Etc.

However, they seem small, but accidental injuries can be quite severe. Injuries caused by a road accident, such as a crash or fall, may lead to severe physical damage. Some accidental injuries can even lead to the loss of life and thus need quick treatment that may cost a fortune.

Based on the survey of The Ministry of Road Transport and Highways, over 4.12 lakh road accidents have been reported nationwide, claiming 1.53 lakh people lost their lives due to these accidents.

What does accidental coverage rider cover?

As we know, the insurer does not offer accidental coverage on basic health insurance plans. However, insurance providers offer flexibility to the policyholders, allowing them to customize plans as per requirements.

If you want to avoid buying a separate policy for accident coverage, consider adding the accidental coverage rider along with your health insurance policy. In cases like a road accident, the hefty medical expenses, from ambulance charges to hospitalization expenses, would be covered. Please note that the accidental coverage rider is only an add-on to the health insurance policy.

Despite the accident cover, the insurer provides different add-on covers such as top-up cover, hospital cash cover, critical illness cover, and more.

Personal Accident Insurance

A personal accident insurance policy, often referred to as an accident death benefit plan, is a fixed-benefit insurance that relieves your family’s financial burden in the event of an accident.

A personal accident insurance policy will give you the protection you need whether the accident results in extended hospitalization or a serious accident with a fatality.

It also comes with a long list of other benefits, including coverage for temporary or permanent incapacity and payment of your child’s school costs following the conditions of the policy.

Why should you Invest in Personal Accident Insurance?

Do you work in a potentially unsafe condition, such as with heavy machinery, or drive long distances for work? In that case, consider investing in a Person Accident Insurance.

However, hefty medical expenses can cause a huge financial burden to your family in the event of an accident. It is an ideal way to protect your loved ones financially in the event of an accident that leads to death, physical wounds, momentary total disability, and permanent total disability.

An accident insurance rider will not only provide the sum assured in the event of your demise, but it’ll also pay out the sum assured in case of temporary or permanent disability.

Reasons to invest in a personal accident insurance policy

Hospitalization Expenses Covered

Generally, an insurer does not cover accidental hospitalization expenses in a personal accident insurance policy. However, insurers offer flexibility to the policyholders, so you can add on an accidental coverage rider along with your personal accident insurance policy if you need it.

In case you have an accident and end up with injuries or need to be hospitalized, you can rest easy knowing that your personal accident insurance policy may cover all the related expenses.

Additionally, you may also have the option to add a daily hospital allowance that can provide you with more financial assistance to help you through this difficult time.

Coverage against accidental death

It provides you with an accidental death benefit, which offers a notable advantage of having access to accidental insurance. In the event of an accident resulting in death or disability, the company provides up to 100% compensation. It’ll protect your family from a financial burden in your absence.

Coverage against permanent total disability

In the event of bodily injury that renders one incapable of pursuing any occupation, personal accident insurance provides coverage.

For instance, if the individual experiences complete disability due to loss of limbs or eyes, the policy will provide a payout equivalent to 100% of the sum insured. Additionally, the policy promotes financial security against unforeseen medical expenses and loss of income, which can cause financial turmoil.

Cost-effective policy

A personal accident insurance policy is referred to as cost-effective because of its affordable premium. It is not too pricey and is accessible to most people. For instance, if a 35-year-old person wants to purchase an independent personal accident policy worth Rs. 10 lakhs, they will only need to pay Rs. 1000 per year as the premium, which varies based on the chosen plan and insurance provider. Remember that this policy also covers disabilities.

Health Insurance Policy vs Personal Accident Insurance Policy

A health insurance policy and a personal accident insurance policy are two different types of insurance policies. To know more about the difference between Health and Personal Accident Insurance Policies, check out the table below-

Conclusion

While most health insurance plans cover emergency accidental hospitalization, it is advisable to invest in accident insurance for the benefits of death and disability coverage. It’ll protect your family in the event of an accident resulting in death or disability.

Health Insurer Network Hospitals