Accident Insurance
Introduction
Accidents do happen all the time and may result in personal injury or even death.
An Accident insurance policy provides several benefits should the policyholder suffer accidental death or bodily injury.
i. 'Death Benefit' pays a lump sum to the policyholder's beneficiary if he dies accidentally.
ii. "Permanent Disablement Benefit" pays a lump sum to the policyholder should he suffer permanent physical disability arising from accidental bodily injury.
iii. Some policies provide a scale of percentages of the lump sum payable, depending on the extent of the disability, whilst some policies provide benefit only for a specified injury or loss, e.g. an eye or a limb.
iv. 'Temporary Disablement Benefit' pays a weekly payment to the policyholder if he is prevented by his injury from working. Many policies limit payment to 104 weeks.
v. 'Medical Expenses Benefit' pays for the consultation and hospitalization costs incurred by the policyholder for the treatment of his injury.
vi. This insurance usually covers accidents, whether the policyholder is on business or at pleasure anywhere in the world.
vii. It does not cover illnesses, and dangerous sports like parachuting or hang-gliding.
Introduction
Accidents do happen all the time and may result in personal injury or even death.
An Accident insurance policy provides several benefits should the policyholder suffer accidental death or bodily injury.
i. 'Death Benefit' pays a lump sum to the policyholder's beneficiary if he dies accidentally.
ii. "Permanent Disablement Benefit" pays a lump sum to the policyholder should he suffer permanent physical disability arising from accidental bodily injury.
iii. Some policies provide a scale of percentages of the lump sum payable, depending on the extent of the disability, whilst some policies provide benefit only for a specified injury or loss, e.g. an eye or a limb.
iv. 'Temporary Disablement Benefit' pays a weekly payment to the policyholder if he is prevented by his injury from working. Many policies limit payment to 104 weeks.
v. 'Medical Expenses Benefit' pays for the consultation and hospitalization costs incurred by the policyholder for the treatment of his injury.
vi. This insurance usually covers accidents, whether the policyholder is on business or at pleasure anywhere in the world.
vii. It does not cover illnesses, and dangerous sports like parachuting or hang-gliding.
Introduction
Accidents do happen all the time and may result in personal injury or even death.
An Accident insurance policy provides several benefits should the policyholder suffer accidental death or bodily injury.
i. 'Death Benefit' pays a lump sum to the policyholder's beneficiary if he dies accidentally.
ii. "Permanent Disablement Benefit" pays a lump sum to the policyholder should he suffer permanent physical disability arising from accidental bodily injury.
iii. Some policies provide a scale of percentages of the lump sum payable, depending on the extent of the disability, whilst some policies provide benefit only for a specified injury or loss, e.g. an eye or a limb.
iv. 'Temporary Disablement Benefit' pays a weekly payment to the policyholder if he is prevented by his injury from working. Many policies limit payment to 104 weeks.
v. 'Medical Expenses Benefit' pays for the consultation and hospitalization costs incurred by the policyholder for the treatment of his injury.
vi. This insurance usually covers accidents, whether the policyholder is on business or at pleasure anywhere in the world.
vii. It does not cover illnesses, and dangerous sports like parachuting or hang-gliding.