Take personal accident cover as a rider in your health or term plan

THIS WILL BE LESS EXPENSIVE THAN A STANDALONE POLICY

- SAIKAT NEOGI

INDIVIDUALS SHOULD CONSIDER a personal accident cover as a rider with either health or term plan for a financial safety net. It is ideal for frequent travellers, those working in high-risk sectors or having dependent family members.

In such a cover, the insured gets a lump-sum payout in case of serious injury, disability, or death due to an accident. It offers financial support to cover for loss of income, rehabilitation, or financial support for the family. In case of partial disability, the payout is a fixed percentage of the sum insured based on a predefined disability scale or on the severity.

"Buying personal accident cover as a rider with term or health insurance keeps costs low, simplifies coverage, and ensures there are no protection gaps between medical care and income loss," says Shilpa Arora, co-founder and COO, Insurance Samadhan.