Necessity of accident Insurance in every one's life

Getting insured is very necessary in Life. Most of the people are met with Accident and many other things. Those have lost their life without giving any thing to their family. So Get insured. Accident Insurance is one which gives a way to get insured with less investments

Most of the people in India won't like Insurance word. They feel like when we are alive we won't get money, then why? We have to get insurance done. We will give you the reason why? You need to get insured.
There are also 6 types of Insurance available. In that only 3 to 4 type we will be using.
1. General Insurance: This type of insurance includes vehicles other stuffs.
2. Life Insurance: This type of insurance includes Money received to family after any uncertainty caused during insured periods.
3. Medical Insurance: This type of insurance includes medical expenses and other things.
4. Accidental Insurance: This type of insurance includes medical and also in uncertainty caused during insured periods.

In our topic, we are going to explain only about accident insurance. What is Accident? Accident is nothing but its cause occurred during travelling, emergency got hurt something like this. At that time person can get severe hurt or person can lead to death. At that time this insurance will come to help.

How you will get advantages from this Accident Insurance?
First thing is Accident Insurance is always double benefited. It gives medical allowances when person get hurt upto 1 lakh. Secondly Person will get 1 lakh amount to his family when death occurred during Accident.

So person can get Accident Insurance in easy installments or one time investments. Not more than Rs.500 or 1000 per year. This is the second advantage of getting Accidental Insurance. Most of the people will never get to this type of Insurance. That to In India people are least bothered about investing money on this insurance. Unless they come to know that they are getting more benefits will less amount.

Our suggestion is that everyone in this world should get insured. So that it will help their family when there is need of money. In government services, Insurance is must and even for them insurance EMI is very less. LIC Policy being a leading Insurance in India. They too have Accidental Insurance.

Disadvantage of this Accidental Insurance: Here in this policy people who get insurance they have to invest only small money throughout the year and when insurance is lapsed money will not be returned back. This is the main disadvantage of this insurance. Second, this insurance will cover claims only when the people met will accident. Other than accident they won't even get claimed.

Changes done recent years: Now a days accident policy have got many changes in policy. Like people who have invested can get back their money by referring other person. Just like a chain link. If you refer the person to by the insurance they you get commission on this. Second advantage is that person who paid the amount and nothing was claimed and any uncertainty not met then he can get back the money or renew the same. This is because companies are aware that people will never wanted to lose the money and they wanted benefit for their investment. So this is very necessary.

Insurance is one of the kind where every family and persons should know. The types can be chosen when you discuss with family person or we can take our own decision. India government is planning to get insurance available to all the common people because these are very necessary to each and every person. So that they can get rid of poverty in the country. Just like vehicle insurance, government should make the rules to get this insurance compulsory to every one.

If you have any chances of getting Accident Insurance, Don't ever think. Just go head and buy the insurance. All the best for your future.


Guest Author: chandu14 May 2013

This is a good article which if followed judiciously will be of benefit to everyone. Insurance is good and everyone need to take it and work on it. It is used to save money for the future to safeguide the future of the family when one is not there anymore. The disadvantage is that the money invested is corruptly embezzled by the insurance company leaving the investor at nothing. We should be very careful when choosing an insurance company.

Author: Venkiteswaran C S28 Feb 2023 Member Level: Silver   Points : 8

Accident Insurance is a provisional arrangement for financial compensation(subject to relevant terms and conditions,) in case of loss or damage to our body due to accident happening in future.

The relevance and need for availing accident insurance cover is very much in the present days as accidents happen even when we take much precautions and care. This is because now accidents happen from various sources. The roads are very dense and crowded with various type of vehicles, speeding at very high speed even allowed by law. The accidents are increasing due to narrow and bad roads, lack of sufficient facilities of footpath, foot overbridged, flyovers, signals, and also ill maintenance of vehicles. Then there are human contributions of driving drunk, reckless trespass etc. Apart from all these here a freak accidents happening too.
While many accidents end in loss of life, loss of limbs and long period hospitalization and suffering damage to limbs and other parts of body are very common.

These hence also entail financial stress and financial loss too. Many times they go beyond all expectations and estimates. It is at this juncture that accident insurance come to be of great help. Though complete compensation may not be coming, it is a great support in such situations.

The government has made accident insurance statutory compliance in case of vehicle driving. But accidents happen other ways also. Hence accident insurance has t be availed by every one . One should take a decision in regard to insurance cover considering various factors.

Many banks, newspaper houses etc. are offering accident insurance as co-facility at affordable rates to their clients with a tie up with insurance companies under Master Policies.

The article gives a brief lead into some factors on accident insurance. Taking this article as a prompt readers can get more details from the insurance company websites or their field workers and agents.

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