Health insurance protects your wealth. A sedentary lifestyle leads to lifestyle diseases like diabetes. So, health insurance is a must. Financial planning has no meaning if you do not pay attention to health. People can have multiple insurance policies, including health insurance. Can health insurance be used in case of accidental injuries? Well, it depends on the type of policy you have chosen.
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See Also: Health Insurance for Disabled
An accident can easily destroy your finances. You should buy a personal accident insurance cover because of two main reasons. The first reason for choosing this cover is the number of road accidents have been rising each day.
In 2012 alone, approximately 3.94 Lakh people died in road accidents as per the National Crime Records Bureau. The second reason is that a personal accident insurance cover helps bear medical costs/loss of income due to an accident.
Usually, work-related injuries are not covered under health insurance. They are covered under workers’ compensation insurance. This insurance ensures that employees are safe if they get injured or fall sick or die on the job. Workers’ compensation pays for emergency medical expenses. It also offers a part of the salary or wage of employees and some benefits that were availed by employees before their injury or sickness.
Bharati Axa offers Workmen’s Compensation Insurance Policy. The plan has been designed to cover manufacturing and business units. It covers the legal liabilities of an employer under Table A and Table B. Table A is related to indemnity against legal liabilities vis-a-vis employees; whereas Table B is related to indemnity against legal liability under the Fatal Accidents Act, 1855 and Common Law. The major exclusions of the plan include occupational illnesses and injuries caused due to disregard of safety devices and working under the influence of drugs or alcohol.
See Also: Personal Accident Insurance Scheme
Bajaj Finserv provides an exclusive insurance product for those who relish fitness training or sports. Policyholders are covered for bodily injuries. Minors cannot avail this plan. Even people who are above 70 years are not eligible for this plan. Policyholders can get coverage up to Rs 2 Lakh at affordable premiums.
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