Road Accidents In India Rise To A Record Level! 5 Things That Will Protect You And Your Family

Indian roads witness thousands of accidents every day. Some 1.46 lakh people died in road accidents in India in 2015, as per the Ministry of Road Transport and Highways. That is a rise of 4.6% over 2014, which had 1.39 lakh casualties.

Though these numbers say a lot, this is still not the full picture. What if the casualty is the bread earner of the family? Roads are full of people going to or coming from their offices in morning and evening. So along with the unfortunate news comes the absence of a steady income. Their kids’ education can suffer too. In many cases doctors succeed in saving the life but the victim cannot work due to disability. So, the family requires money to take care of them too.

In this alarming scenario, how do you protect your loved ones? The answer is simple – an individual personal accident cover is your best bet. It is pocket-friendly, flexible, and takes care of the needs of your family.

Let us tell you how an IPA insurance can help you in those situations

Disability cover Is the policyholder completely or partially disabled following an accident? Then this type of policy will provide financial support. Note that the cover applies regardless of the type of injury you have. You could sustain a big or small injury in an accident. You would still get coverage.

Emergency accident medical expense After an accident, say, you need urgent medical attention. Then your policy will come into play. It provides coverage for medical expenses that are not due to a pre-existing condition. This is as per the policy guidelines.

Compensation for loss of income As mentioned earlier, if a policyholder suffers a fracture or a disability like loss of eyesight, speech, or hearing. The insurance can help them there. Suppose a person suffers temporary total disability. Then the insurer will grant a weekly benefit.

Child education benefits Personal accident insurance will ensure that the victim children’s education is not affected. Here, the insurer will pay an education benefit for the children. This may be 10% of the principal sum insured or the actual tuition fee charged by the institution. The insurer will pay whichever is the lower amount. Some policies offer an amount of Rs 5,000 for the repatriation of the insured person’s remains.

Home alteration and vehicle modification benefit When a person gets paralysed as a result of an accident, he becomes wheelchair-bound. Many policies factor this in. They give compensation to modify his vehicle and home. The alterations are necessary to suit his physical condition and needs. This compensation can be a huge blessing.