Why Personal Accident (PA) insurance?

For some, Personal Accident (PA) Insurance has always been considered a “cheapskate” insurance or “value-for-money” depending on how one sees it

The major difference between PA and other types of insurance is basically two:-

  • PA Insurance is extremely cheap compared to other types of life or medical insurance
  • PA Insurance only pays out if the cause of injury is due to an accidental cause

The benefits offered normally can be one or more of the following:

  • Death
  • Total & Permanent Disability
  • Partial & Permanent Disability
  • Total & Temporary Disability Income
  • Partial & Temporary Disability Income
  • Medical Expenses
  • Hospital Stay Income
  • Total & Permanent Disability Survivor ( Insured or Dependents) Monthly Income
  • Additional benefits such as cosmetic surgery, medical equipment, counseling, etc

Unknown to many, besides the higher coverage provided for death, the more important benefit is the definition of Total & Permanent Disability (TPD) as compared to standard life insurance policys

An example is life insurance policies where TPD is considered when the insured is blind in both eye or loses two limbs or loss of uses of two limbs or more

In a PA Insurance, a person, for example, who loses a limb above the wrist is considered TPDed and the whole face value is paid out. See the table below for a listing of the Disability Benefits

PA policies are a valuable addition to your insurance portfolio. And you would be surprised to know that nowadays PA insurance also pays out an amount for Natural Death! Another advantage is that people with medical related problems can expect more lenient underwriting as compared to life or medical insurance

Click here for PA plans 

Rama Krishnan

012-320 8475



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