Accidents are very common these days. Whether it’s a simple fracture, a serious burn, or a car accident, serious physical disabilities can arise. When accidents do occur, there are significant costs to treatment and recovery. Also, in the event of permanent disability or death, you will lose the ability to work and lose income. While health insurance covers medical costs associated with accidents, accidental death, and disability are not covered. This is where individual accident insurance comes into play. Here is a complete overview of accident insurance and why you need it.
Individual accident insurance is insurance that covers the risk of accidents. If you suffer from any of the contingent liabilities that are covered, the plan pays a fixed rate benefit to help you deal with the financial losses incurred by the contingent liabilities.
Under this plan, a person is covered by the policy.
Under this system, a group of people is affected by politics.
Group insurance is contracted by registered groups to obtain coverage for their members. These groups can be employer-employee groups, banks and their account holders, associations and their members, etc. A single policy is issued that covers all named members of the group.