Accidents are unexpected events. They can happen while traveling in vehicles, walking by the roadside, or even sleeping securely in our own homes. Many of those who tragically lost their lives in Mundakayam and Chooralmala in Wayanad may have passed without understanding what was happening. In other words, accidents can happen to anyone, at any time, and anywhere, no matter how cautious we are.
A person involved in an accident may either lose their life or suffer injuries that may incapacitate them for an extended period. If the individual has life insurance, the family will receive compensation if they pass away. If the injured person has health insurance, they can receive the necessary treatment without financial strain. However, if the person lacks health insurance, while some initial support may come from others, ultimately, they and their family will bear the full burden of treatment and additional expenses.
In more common cases, an individual might suffer injuries, like a broken arm or leg, requiring a period of rest without work. When this happens, the family that depends on this person may face financial hardship. This is a frequent situation, underscoring the importance of personal accident insurance.
One may question if accident insurance is only necessary for those who earn an income. However, consider the situation if any family member suffers an accident or disability; the main earner may have to divert all their income to treatment and care. This highlights the necessity of having insurance coverage for all family members..
The Personal Accident Insurance Plan from HDFC ERGO General Insurance is a unique plan that helps ensure financial security by providing coverage for financial losses resulting from accidents. This plan offers comprehensive coverage for all types of accidents for those who join. For a plan with coverage up to ₹1 million, an annual premium of only ₹3,611 is required. Think for a moment—just ₹10, the cost of a cup of tea, covers a premium for ₹1 million in protection for a year.
The benefits of this plan include:
1) Unlike other plans, the premium does not increase with age; it remains the same from age 18 to 80.
2) By paying ₹3,611, the nominee receives ₹1 million if the insured dies in an accident.
3) If the insured goes missing due to an accident, ₹1 million is provided to the nominee after one year.
4) If the insured falls into a coma due to an accident, ₹500,000 is given.
5) For permanent total or partial disability (PTD+PPD) due to an accident, ₹1 million is granted.
6) In case of temporary total disability (requiring complete rest without work), ₹10,000 is given weekly, up to a maximum of 104 weeks.
7) If emergency medical treatment is needed due to an accident, ₹100,000 is provided.
8) If a bone fracture occurs due to an accident, ₹100,000 is provided.
9) For burn injuries from an accident, ₹50,000 is provided.
10) For hospitalization due to an accident, daily coverage of ₹3,000 is provided for up to 30 days.
11) The insured’s child will receive ₹100,000 as an educational benefit in case of an accident.
12) For final rites, ₹10,000 is provided to the nominee in case of accidental death.
13) A dependent care benefit of ₹50,000 is provided in case of the insured’s accidental death.
This affordable plan, providing ₹1 million in coverage for the cost of a daily cup of tea, is currently offered exclusively by HDFC ERGO. The plan is available with coverage options ranging from ₹1 million to ₹10 million (benefits increase proportionately), making it suitable for both average earners and wealthier individuals. Additionally, it can include family members under a family floater plan.