Accidents are unpredictable. Getting injured in an accident not only harms you physically but also financially. After all, medical expenses are touching the roof and a major road accident can empty all your savings. This makes a lot of people wonder if accidental injuries are covered by health insurance in India. Let’s find out.
Does Health Insurance Cover Accidental Injuries in India?
Yes. All health insurance plans in India provide coverage for accidental injuries. It covers the medical expenses incurred in the treatment of injuries sustained in a road accident. The coverage usually includes emergency in-patient hospitalization charges as well as ambulance charges.
Some health plans also cover post-hospitalization expenses incurred on OPD consultation fees, physiotherapy, etc. resulting from an accidental injury. A daily hospitalization cash allowance may also be offered under some medical insurance plans offering coverage for accidental injuries.
A health insurance plan provides coverage for emergency accidental hospitalization from the first day of the policy without any waiting period. However, regular health insurance plans do not offer personal accident cover to the insured. To avail of this cover, you will have to opt for a personal accident insurance plan.
Personal Accident Insurance
Personal accident insurance is a type of insurance policy that covers any expenses or losses arising out of a road accident. Under this policy, the insurance company provides compensation in case a road accident leads to permanent total disability or death of the insured.
A personal accident insurance policy is a standalone insurance plan. However, some health insurance plans also offer personal accident cover as a rider or add-on cover. In both cases, you will have to pay a separate premium amount to avail of the personal accident coverage.
Why Should You Buy a Personal Accident Insurance Policy?
Here are a few reasons why you must buy a personal accident insurance policy:
- Accidental Death & Disability Coverage
Not every accident causes minor injuries. A major road accident can lead to permanent total disability or even death. In case the breadwinner of the family gets disabled or dies in a road accident, the rest of the family will face immense financial pressure. It may even get difficult for the family to earn a livelihood.
With a personal accident insurance policy, the family of the policyholder will get a lump sum amount as compensation in case he/she suffers from a disability or dies in a road accident. This will help them take care of their day-to-day expenses as well as pay for major expenses like children’s education, marriage, etc.
- Financial Security of the Family
One of the biggest reasons why you must opt for a personal accident insurance policy is to ensure the financial security of your family. The amount of death benefit or disability benefit offered by the insurance company under this policy can be used to sustain the family or to pay for the kids’ education.
- Hospitalization Expenses Cover
Generally, a personal accident insurance policy does not cover accidental hospitalization expenses. But just like a regular health insurance policy, a person can also opt for accidental hospitalization cover as an add-on cover under the personal accident insurance policy.
Several personal accident insurance plans offer hospitalization expenses as an add-on cover. This means by paying an additional premium amount, the insured can avail of coverage for the hospitalization expenses arising out of an accidental injury.
- Worldwide Coverage
Usually, a health insurance policy offers coverage for any medical hospitalization or illness diagnosed within India. However, a personal accident insurance policy provides worldwide coverage. This means the insurance company will provide coverage for accidental death or disability no matter which part of the world you meet with an accident.
- Terrorism Cover
Most health insurance plans in India do not provide coverage for terrorism. However, terrorism cover can be availed under a personal accident insurance policy. With this cover, any medical expenses incurred on accidental injuries sustained by the insured due to an act of terrorism will be covered by the insurance company.
However, terrorism cover may be available as an add-on cover under a personal accident insurance policy. Therefore, you must cross-check the coverage details from the insurer before buying an accident insurance policy.