WHAT IS ACCIDENTAL DEATH INSURANCE

One can never predict what can happen in the future and how it may impact them. Accidents are one of such unforeseen events that can shatter a family both emotionally and financially. But one can protect themselves from such an event by getting accident death insurance which can help them mitigate any damages that they might have to go through when losing a loved one to an accident. Here we are going to look at why one should have accident death insurance and what are its benefits.

Understanding accidental death insurance?

It is also known as an AD&D (accidental death and dismemberment) plan which is an additional cover that one can get with their personal accident insurance policy. It helps provide one family with financial security in case they are involved in an unfortunate accident that results in the death of the individual. Accident insurance policies are very important for one to have when they are driving on the road as they can not only help their family stay protected in the event of their death but also help them cover any damages that can come if there were partial or complete dismemberment such as lose a crucial limb, get paralysis, burn damage, hearing loss, eyesight loss, etc., due an unfortunate accident.

Inclusion in accident death insurance:

The following are the inclusions one should take note of before getting an accident insurance policy:

  1.  Vehicle road accident:

One can get financial protection against any unforeseen vehicle road accident by getting AD&D insurance.

  1.  Falls:

Sometimes one can have accidents because of an unfortunate fall that can result in death or dismemberment of the individual. But one can remain protected by getting personal accident insurance.

  1.  Fire:

If one were to have any physical and financial losses due to a fire accident, they can claim any damages under the accident insurance policy and recover their losses.

  1.  Travel:

If one were to be involved in a travel accident such as an airplane crash resulting in their death the family members are entitled to the benefits of an accident insurance policy to help them recover any damages.

Exclusion in accident death insurance:

One should also take note of the following exclusion before buying an accidental insurance policy:

  1.  Self-inflicted injury:

The accident insurance provider is not liable for any damages that are due to self-inflicted injury.

  1.  Attempted suicide:

One cannot claim or avail of any accidental insurance policy if they have tried to commit suicide or have attempted suicide history.

  1.  Risky hobby:

Insurance providers might not approve the policyholder's claim if they get serious injuries resulting in dismemberment or death due to risky hobbies such as paragliding, parachuting, climbing, boxing, underwater diving, motorsports, skiing, etc., that have a high chance of injury. 

  1.  Death due criminal act:

The insurance provider is not liable for any damage that an accidental insurance policyholder might get by attempting a criminal act that results in their death or dismemberment.

Types of accident insurance policy:

Following are the types of accident insurance policies one can avail from their insurance provider:

  1.  Voluntary:

One can directly avail of an accident insurance policy at their convenience voluntarily through various insurance providers.

  1.  Group:

It is offered to a group of people by their employer in case of any unfortunate accident. The policy is common for all people. covered in it.

Benefits of getting accident death insurance:

Getting personal accident insurance can not only help one avoid any financial losses due to an unfortunate accident but also protect their family members. The following are the benefits of getting an accident insurance policy:

  1.  Increased protection:

One can always feel good with increased protection by getting ad&d insurance for themselves.

  1.  Tax concessions:

By getting accident death insurance one can get tax concessions on their income tax as insurance premiums are tax exempted.

  1.  Fast approval:

It requires minimum documentation and can be approved at the fastest by the insurance provider.

  1.  Financial protection:

By having an accidental insurance policy one can always remain financially protected.

  1.  Customizable:

One can easily customize their ad&d insurance policy by calling their insurance provider at their convenience.

Conclusion:

Life is very unpredictable, and one can never know what can happen next. But one can always remain prepared by getting an accident death insurance policy which is an add-on cover when one is getting personal accident insurance. One can easily protect themselves and their family members from any financial loss if they are involved in an accident resulting in their dismemberment or worse death. Now, one can easily get accident death insurance online in just a few easy steps from Quickinsure and compare various available plans and choose the one that meets their requirements.

FAQs:

  1. Is accidental death insurance costly to buy?
  • It can be 10-25% more than the premium regular personal accident policy but it is well worth it.
  1. Why should one always try to get an accident insurance policy?
  • By getting an accident insurance policy one can not only protect themselves but also their family from any unfortunate future accident.
  1. Where can one buy an accident insurance policy?
  • One can easily visit Quickinsure official website- https://quickinsure.co.in/ and can compare various available plans and get the one that meets their requirements.
  1. What are the main benefits of an accident insurance policy?
  • The main benefits of an accident insurance policy are enhanced protection from accidents, tax concessions, and minimum documentation.
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