Personal accident insurance gives a person financial aid from the dire consequences of an accident like bodily injuries, permanent and temporary disabilities, and death. If the policyholder dies in an accident, the amount of compensation goes to the nominee. In this article, you will learn all about Personal Accident Insurance Malaysia.
What does this policy provide?
An accident can happen to anyone, and the injuries can be either minor or major, so you need proper help in times of financial crisis. You will get the proper financial aid to cover the hospitalization cost, medical expenses, and compensation for any type of disability, injuries, and death. The insurance policy keeps you secure and assists you during such grave times.
Types of personal accident insurance policy
There are two major cases in which you can use this policy and get compensation during your time of need.
- Individual accident policy– It protects the sole individual in the light of consequences of an accident like losing a body part, disabilities, or accidental death.
- Group accident policy– This policy is by the employer for the employees and is available at a low cost. There is also the opportunity to get a discount on the number of group members if the offer applies. It is a good incentive for organizations, but it has limited benefits if you compare it to the individual policy, so if you want to get the maximum benefits, you should opt for an individual policy.
Benefits of the personal accident insurance policy in Malaysia
You can Buy Personal Accident Insurance Malaysia and get several benefits from it.
- You get a fixed premium, so you have to pay the same amount once the term ends.
- It gives you complete coverage in case of injuries or death of the policyholder.
- You get compensation weekly if you are suffering from temporary or permanent disability, as it will lessen your financial burden.
The minor accident will keep you out of commission for a while, but the major accident will have a severe impact and affect your life for a long time. You should always be prepared to face such untimely mishaps, and have the insurance ready, so it can offer you some relief during the tough times. You can avail the benefits, and be rest assured that you will get some financial aid to pay your bills when you are indisposed.