Personal Accident Insurance or also known as PA insurance is an annual policy which covers the policyholders against the event of injuries, disability of death caused by violent, accidental, external and visible events. This insurance is typically different from life insurance and medical and health insurance.
A day without insurance is like a day without sunshine, get yourself covered now under personal accident insurance!
Take a look on the outlines below to know what is covered under personal accident insurance:
- What is personal accident insurance?
- What are the losses personal accident insurance covers?
- Examples of personal accident insurance scenarios
- Who needs personal accident insurance?
- How personal accident insurance can be purchased through PolicyStreet which gives you the best deal!
What is personal accident insurance?
Have you heard of personal accident insurance before?
As you know accidents are unforeseeable, unanticipated and may be financially draining for anyone especially the breadwinners. Even though you have taken precautions and measures to avoid those circumstances, it is always better to prepare you and your family financially for these situations.
This policy would pay out if you suffer from serious injuries or death as a result of an accident. You should bear in mind that this policy will not be effective if you die or get injured due to natural causes such as disease and sickness. You should consider personal accident insurance for sudden, violent, unanticipated incidents in the workplace or elsewhere.
Also, do remember that life insurance does not cover accidents that do not result in death. This is where personal accident policy would come in handy which functions as a supplement to life insurance. It is always a good idea to have both personal accident policy and life insurance policy to protect your loved ones.
Let’s take a look on the diagram below to know on what are the coverages provided under personal accident insurance:
Here is a list of the losses that personal accident insurance covers.
- Happens in the workplace accident or injury
- Happens in a road traffic
- Happens due to criminal violence
- Happens due to slips or spillages (Trips and Falls)
- Amputations either immediately following the accident or as a result of the accident within a certain timeframe (eg: 24 months)
Personal accident insurance does not cover the injuries, disability and deaths that are caused under these following circumstances:
- Suicide attempt or through recklessness
- Any injuries or road traffic accidents occurred under the influence of controlled substance(drug or alcohol)
- Involvement in criminal or unlawful activities
- Involvement in war or terrorism
- Injuries caused by radiation or other nuclear accidents
- Involvement in hazardous sports
Take a look at the diagram below to have a clearer picture in mind on what is not covered by personal accident insurance!
Examples of personal accident insurance scenario
To clear your doubts on when personal accidents would be activated, let’s take a look on the table below:
|Scenario 1||Scenario 2|
|A person who suffers from diabetes experiences dizziness due to the low levels of sugar in the body while he was on a ladder cleaning the ceiling. This has caused him to fall and injure his leg. Hence, his leg has to be amputated.||A person with diabetes suffers from serious complications where his leg has to be amputated.|
Conclusion: Based on your point of view, which scenario do you think personal accident insurance would be related to?
Well, now you would have a proper idea in mind on how personal accident insurance works!
Who needs personal accident insurance?
Personal accident insurance is significant to insure yourself against any unforeseen death or accidents which might cause permanent disability or loss of a body part.
Personal accident insurance is not mandatory to get but it plays a significant role to protect you from injuries, death, and even permanent disabilities. It serves as a financial backing when you are in either of the situations mentioned.
Also, you should take in extra consideration to get this coverage if you are in any of the following situations:
- You are the breadwinner of your family
- You are the only child for your elderly parents
- Your workplace has raised some concerns for your safety
- You are worried about being handicapped
- You are concerned that Social Security Organization (SOCSO) does not provide enough coverages
How do I apply for personal accident insurance?
Since you have considered purchasing personal accident insurance, you can purchase this coverage though PolicyStreet. As you know, PolicyStreet offers personal accident policy which is provided by most of the insurers.
As PolicyStreet is a financial advisor approved by Bank Negara Malaysia (BNM), you can definitely trust us to deliver the best car insurance to keep you moving on the road without any worries.
Here are the steps on how you can purchase personal accident policy via PolicyStreet:
- Visit PolicyStreet’s Personal Accident Insurance
- Choose which insurer you prefer to be covered among the 8 insurers provided
- Key in the relevant details
- Click submit
- Our advisors will contact you shortly
Don’t miss out on these exclusive and guaranteed deals from PolicyStreet, visit our website now to get yourself covered under personal accident insurance by following the simple and easy steps given above.
In case you are wondering what are the varieties of personal accident policy providers we have in our website, here is a list:
- Great Eastern GreatShield Active
- Allianz Enhanced Road Warrior
- Allianz Shield Plus
- Zurich Personal Sentinel 3
- Chubb Essentials Personal Accident
- Tokio Marine Individual PA Partner
- MSIG Individual Personal Accident Insurance
- Lonpac Secure Protector
Frequently asked questions (FAQ)
Here are some of the frequently asked questions (FAQs) for personal accident insurance that we have compiled for your references.
#1 I already have a health and life insurance cover, why should I purchase a personal accident insurance policy?
You might be wondering that even though you have purchased life and health insurance policies, purchasing personal accident insurance will strengthen your financial portfolio which will protect your family members against any unanticipated events. Life insurance offers death benefits in case you have passed away while health insurance offers a reimbursement of hospitalization and other medical expenses. On the other hand, personal accident insurance policy will insure you against any financial risk that could arise due to accidental death or accidental permanent total disability.
#2 I often travel to other countries for business or leisure purposes. What if I meet with an accident outside Malaysia?
As a policyholder, you should know that accident policies offer worldwide coverage. Your claim will be reimbursed even though you meet with an accident outside of Malaysia.
#3 I am a homemaker and spend most of my time at home. Do I also need a personal accident policy?
You should be aware that accidents can happen anytime and anywhere. This can sound scary but getting anxious and intimidated will not be the solution to the problem. You should be financially prepared by opting to get yourself covered under personal accident policy to help you meet your expenses in case a crisis emerges.
#4 Will I be covered under personal accident insurance if I am involved in a motor accident?
Yes, you will be covered. Personal accident policy will cover you from all accidental injuries whether it occurs in a motor accident, at work, at home or whenever, you name it!
#5 Will this policy cover the hospitalization expenses if I am hospitalized after I have met in an accident?
Yes, definitely. Hospitalization benefit is covered under personal accident policy. It provides reimbursement for medical expenses with a cash allowance for each day of hospitalization.
To know more about personal accident insurance, visit www.policystreet.com. Feel free to drop us an email (email@example.com) or give us a call (+603-3310 0063) if you need further clarifications – we are always ready to help.
End of the day
Always be prepared for life’s uncertainties and now you know why you should.