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Buy Health Insurance for Injury

IndianMoney.com Research Team | Updated On Friday, August 09,2019, 03:10 PM

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Buy Health Insurance for Injury

 

 

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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Health Insurance for Injury

What Should You Know on Health Insurance?

  • Not all insurers offer a mandatory accidental insurance cover by default. They allow you to choose a special rider called a personal accident insurance cover. Ask for it when availing a health insurance policy.
  • The insurers, which offer a personal accident insurance cover by default, may impose a sub-limit on room rent, transportation costs, and consultation fees.
  • Go through the terms and conditions of the policy to check if personal accident insurance is offered.
  • If you opt for this rider, you may have to pay a higher premium.
  • Many insurance companies offer a fixed accidental cover in addition to regular health insurance policies.

See Also: Health Insurance for Disabled

Why Do You Need a Personal Accident Insurance Cover?

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.

Does My Health Insurance Policy Cover Work-Related Injuries?

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.

See Also: Personal Accident Insurance vs Health Insurance

Workmen’s Compensation by Bharati AXA

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

Fitness Injury Insurance by BajajFinServ

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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IndianMoney.com Research Team

The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.

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