Accident Insurance Policy | Exide Life

1. Everything You Want to Know About Accident Insurance Policy Apart from your savings, what comes to your rescue in case of financial emergencies, is insurance. It is available to help you pay for any loss. It also helps to pay others on your behalf when you cause an injury to someone else. In other words, insurance supplies you with much- needed financial freedom. When the different sources of your financial stability start to dwindle, insurance steps in as the best resort. To insure your valuable assets is an essential part of financial management strategy. Read on. What is insurance?  Insurance is a contact that transfers risk of financial loss from an individual or business to an insurance company. In this contract, the company is the insurer, and the individual or business is the insured. Under the deal, the insurer agrees to make good the loss incurred by the insured. The insurer or insurance company collects a small amount of money every month from the insured, pools it and repays the money when there is any loss. This amount is known as the premium.   About the types of insurances  Insurance gets classification into categories such as Life Insurance, Health Insurance, Education Insurance, Home Insurance, and Car Insurance.   It is widespread knowledge that life insurance covers the risk of death and health insurance is a policy to meet hospitalisation charges. Education cover helps you with education expenses, whereas home insurance covers damages to your property. With the number of vehicles rising every day, there must be an accident insurance policy for every car owner. This cover protects car owners from any untoward incidents that come unannounced. Some plans may even cover damages to your crab during natural calamities like earthquakes and floods. This plan also includes third party liability wherein you ate liable to pay costs to other vehicles. Besides, the accident scheme that covers policyholders against death or disability caused due to an accident. Let us know more. 1 – Hospitalisation charges are taken care of during hospitalisation 2 –The benefit of home alteration and vehicle modification for your convenience 3 – Reimbursement of transportation costs for hospital visits 4 – Disbursement of compensation to family in case of death of the policyholder 5 - All types of disabilities are taken care of. Note that there may be a loss of both hands, foot and both eyes. Or there may be loss of one hand, one foot or an eye. Loss of speech or hearing loss also gets a cover. If the policyholder loses an index finger, thumb, or hand, he or she can receive compensation for their income loss. You must understand the difference between temporary disability, total disability and permanent disability your when choosing accident cover.    To wrap it up           You can buy your accident insurance online or offline. Insurance agents and websites can also help you buy a policy. Insurance companies market their products and services in different ways. So, make sure to research well before choosing and investing