What is a Comprehensive Accident Insurance Plan?
An insurer has to pay a higher premium in case of a Comprehensive Accident plan, compared to a Basic Accident plan, to avail the same or lower Sum Assured. Unlike a basic accident plan, the insured also gets money for the treatment and/or hospitalization for injuries related to accidents.
A person can suffer from 3 types of disabilities, caused in an accident. They are permanent total disability, temporary total disability, and permanent partial disability. A Comprehensive Accident plan either pays the insured the entire sum assured, or a percentage of the sum assured, based on the type of disability that the insured suffers.
If the insured meets with an accident leading to a temporary total disability, which causes loss in income (remember he cannot work), a Comprehensive accident plan pays the sum assured to compensate for this loss.