Different situations can suddenly affect a family’s main provider, leaving them helpless. To mitigate the effects of these possibilities, there are several forms of protection and, among them, personal accident insurance stands out.

Every responsible individual, whose absence could bring difficulties to their loved ones, is the main interested party in this type of insurance. In turn, it is a very affordable product and is of interest to most people.

Would you like to know more? Read on and find out when it’s worth investing in personal accident insurance.

What types of insurance exist?

Various types of insurance exist to provide financial support through indemnity whenever situations of loss or damage defined in the contract occur. In this sense, there is a wide variety of insurance , among which the most common can be highlighted:

  • car insurance;
  • property insurance;
  • travel insurance;
  • health insurance;
  • life insurance;
  • personal accident insurance.

Each type has its own characteristics regarding the object it protects and the conditions of the occurrences that are indemnifiable. All, however, must be duly specified in the policy when contracting.

What is personal accident insurance?

Day-to-day circumstances, such as those related to traffic, can cause accidents capable of leaving sequels that prevent the continuity of normal life or, even worse, result in death. In either situation, people who depended on the injured person may be left helpless.

Thus, personal accident insurance is a way to minimize sudden losses resulting from experiences of this nature. The support is provided in the form of an indemnity paid to the insured himself or to his beneficiaries, who are indicated by him.

However, certain situations, such as natural death or complications resulting from surgery, for example, are not covered. The accidents considered in this insurance can happen violently, suddenly or involuntarily, among others.

What is included in the coverages?

First, it is good to know that this type of insurance is not to be confused with life insurance, since they have some characteristics that differentiate them. The main difference between the two types of insurance is in the respective coverage they offer.

Thus, life insurance concentrates the essence of its coverage in cases of death, whether due to natural causes or due to a fatal accident. Its scope, therefore, is greater and, as a result, it has a higher cost.

In turn, personal accident insurance covers fatal accidents or accidents that result in the permanent disability of the insured. The considered disability may be total or only partial and, although it includes this consequence, its cost is lower than that of life insurance as it is limited to accident situations.

At the same time, in addition to the indemnity for the claim itself, coverage related to expenses arising from medical, hospital and dental assistance that may be necessary may be included. In this case, according to contractual provision, these expenses can be reimbursed.

Individual or family funeral assistance may also be included in the personal accident insurance policy. Likewise, there may also be provision for payment of daily allowances for temporary incapacity for the days in which the insured is unable to work.

What are the benefits and advantages of hiring you?

The first benefit of taking out personal accident insurance lies in the very raison d’être of this insurance: to provide financial security for the family in the event of an unexpected departure or impediment as a result of an accident.

Among the advantages of hiring personal accident insurance is the premium paid by the contractor. In addition to being smaller compared to life insurance, as seen, it does not vary according to the age of the insured, that is, it does not present differences between the different age groups.

It should also be taken into account that the compensation paid by personal accident insurance, as in the case of life insurance, has the following characteristics in the case of death:

  • does not enter the inventory of the deceased insured;
  • does not respond for debts left by the insured;
  • It is completely tax free.

A very peculiar and advantageous aspect of this insurance is its cost-benefit ratio, which is very favorable to the insured. This is insurance, in general, considered cheap and very affordable.

How to get personal accident insurance?

Contracting any type of insurance should be carried out with the assistance of an experienced and reliable insurance broker . In addition, it is important that it is already consolidated and recognized by the market. This is one of the biggest guarantees for those interested in contracting insurance.