Accidents are totally uncertain, and will cause some irreparable damage to a person. Thus, it is very important to buy right type of the insurance to protect yourself against any possible unfortunate incidents. So, buying an accident insurance is one important financial decision that you have to make, but make sure you choose the best digital insurance companies Hong Kong. The personal accident insurance plan covers risks that are confronted by a buyer because of fatal accident. This provides the coverage for death & disability caused because of an accident. Buying the insurance will give some significant benefits, like:
- If a person sustains any kind of injury because of the accident, lump sum amount will be paid for their medical treatment. Even though person doesn’t face any complete disability, for example loses eye, personal can get the portion of sum assured to cover the medical expenses. The disabled person is entitled to get some periodic sum, let’s say monthly remuneration, if a person is already employed in the organization.
- If a person dies in the accident, beneficiaries of a person will get certain amount as the death cover. The personal accident cover Hong Kong can provide required financial support to family after person’s death.
Certain things to see in the insurance policy:
When buying the personal accident insurance cover, some factors to consider are number of years, cover amount, and benefits to beneficiaries. What are the things covered under this policy: You must look for the events leading to the accidents. Know if the kind of accidents that you will face are been covered by a policy. For instance, see if accidents besides road and rail are included, like fire accidents at the home, accidents because of slipping on steps of an apartment, and more.
Compensation amount: Payable compensation amount also is very important. In turn, this depends on size of a family, risk involved, if your partner is working, and more. How much will be payable on the death, disability or minor disability must be examined. For instance, know about an amount compensated for the family for your death and monthly remuneration for the medical expenses, and more.
Percentage of the benefit under permanent or temporary disability: Find portion of your sum offered as risk compensation. It depends on an accident resulting in the death and disability (partial or temporary). For various conditions, different amount will be payable.
Limitations and Exclusions: You must have a close look at the exclusions and limitations. And these are important as overlooking these can make your claim totally void under some circumstances. There are common exclusions that include:
- Driving under influence alcohol and drugs will make policy void
- Persons aged over 75 years aren’t eligible taking the insurance
- Accidents caused because of sports like sky diving, polo, professional diving, and more.