Accidents can happen at any time. They may lead to physical injury, financial loss, or emotional distress. Personal accident covers offer a financial safety net in such situations. These insurance plans help cover expenses due to accidental injuries, disabilities, or even death. You can get a personal accident cover on Bajaj Markets, an online financial marketplace, to ensure your finances remain secure in such scenarios.
What Are Personal Accident Covers?
A personal accident cover is a type of insurance policy. It provides compensation in case of injuries or death due to an accident. This cover may include medical expenses, hospitalisation costs, and a lump sum amount in case of disability or death. It is important to note that these policies only cover accidents and not illnesses.
Benefits of Personal Accident Covers
Personal accident covers offer multiple advantages that help ease financial burdens during unexpected events.
Financial Support for Medical Expenses
Personal accident covers provide financial assistance for medical treatments, which can be costly, especially if surgeries or long hospital stays are required.
Lump Sum Payout in Case of Disability
In case of temporary or permanent disability due to an accident, these covers offer a lump sum payout to help manage everyday expenses, offering financial stability during recovery.
Additional Benefits
Some covers also include coverage for funeral expenses and may provide education grants to the policyholder’s children in the event of their untimely death.
Features of Personal Accident Cover on Bajaj Markets
The personal accident cover available on Bajaj Markets come with various features to meet customers’ needs.
High Coverage Amounts
Get a personal accident cover with a sum insured of up to ₹5 Lakhs. This high coverage could help secure your financial future in case of a major accident.
Affordable Premiums
This cover comes with an affordable premium of ₹423 per year and a validity of one whole year.
Simple Claims Process
Make a claim by contacting the insurance company through email at care.healthinsurance@adityabirlacapital.com or call on their toll-free number (1800-270-7000).
How to Buy Personal Accident Cover on Bajaj Markets?
Buying a personal accident cover on the financial marketplace is convenient and simple.
Visit the Website or Download the App
Start by visiting the official website or downloading the Bajaj Markets app on your smartphone.
Explore the Options
Browse through the various affordable covers available in the ‘Pocket Insurance & VAS’ section.
Select a Plan
Choose the plan that fits your requirements. Ensure you check the coverage amount, premium, and any additional benefits.
Fill in Your Details
Provide the necessary personal details to proceed with the purchase.
Make the Payment
Complete the payment online. Bajaj Markets offers various payment options, making it convenient for you.
Policy Issuance
Once the payment is successful, you will receive the policy documents via email. You can also view your policy details on the Bajaj Markets app.
What to Consider When Choosing a Personal Accident Cover
Before choosing a personal accident cover, consider these important factors.
Coverage Amount
Make sure the sum insured is adequate. It should cover your financial needs in case of an accident
Premiums
Consider the premiums and ensure they fit your budget. Lower premiums may seem attractive but ensure they provide adequate coverage.
Exclusions
Every insurance policy comes with exclusions. These are conditions not covered by the policy. Read the policy document carefully to understand what is not included. For instance, injuries due to war, self-harm, or participation in risky activities may not be covered.
Eligibility Criteria
The personal accident cover requires individuals to be aged between 18 and 55 years to be eligible. Check if there’s any other parameter you need to meet in order to buy the plan.
Claim Settlement Ratio
This ratio indicates the number of claims an insurer settles versus the claims received. A higher ratio may indicate a reliable insurance provider.
Importance of Being Insured
Having a personal accident cover could be a wise decision for anyone. Accidents are unpredictable and can lead to significant expenses. Without insurance, these costs may become a financial burden. A personal accident cover could ensure you have the financial support needed to cope with such situations.
Moreover, personal accident covers are not just for those with dependents. Even if you are an unmarried person, having insurance can protect your savings and help cover medical costs. It can also provide a sense of security, knowing that you are prepared for unexpected events.
How Bajaj Markets Makes Insurance Easy
Bajaj Markets aims to simplify the insurance process. The marketplace offers a user-friendly interface where you can explore and buy different covers. With the Bajaj Markets app, you can manage your policy, make claims, and renew your cover all in one place. This convenience ensures you stay protected without any hassle.
Conclusion
Personal accident covers are vital for financial planning as they offer protection against accidents by covering medical expenses, disabilities, or death. Using the Bajaj Markets app or website, you can easily find and buy a suitable policy to help secure your financial future and protect against unforeseen accidents.