Have you ever heard of personal accident insurance or personal accident insurance ? This type of insurance is actually quite popular and is widely offered by insurance agents.
Its function is to protect financial losses in the event of an accident resulting in death or permanent disability.
In general, this insurance has coverage for one year, with the amount of compensation that varies according to the policy.
Although personal accident insurance covers financial losses due to accidents, there are some causes that are not covered, such as bungy jumping, car or motorcycle speed or agility competitions and air and water sports. What is Personal Accident Insurance?
According to the Financial Services Authority (OJK), personal accident insurance is a protection provided to guarantee customers from an accident that happens to them for 24 hours within a certain coverage period, for example for one year or during one trip.
Also considered as an accident are:
- Poisoning due to inhalation of toxic gases or vapors Misconduct by others
- Infection with substances containing disease pests
- Drowning or sinking
- Exile in a quiet place because of a disaster from outside
- Occurrence of low back pain (lumbago) or bladder inflammation (tendo vaginities erepitans)
This insurance product can be marketed by life insurance companies and general insurance companies . In general, personal accident insurance products
only applies to the Insured who is over the age of 17 (seventeen) years to the age of 60 (sixty) years.
There are two options for this insurance product, namely conventional and sharia personal accident insurance.
Who needs personal accident insurance?
Actually everyone has a risk of various accidents that may occur. However, some people with certain professions and circumstances have a higher risk than most people. So they need extra protection to minimize the risks that occur.
Examples of some people who need extra insurance coverage are mining workers, extreme sports athletes, pilots, drivers, captains, machinists, soldiers, police, construction and construction workers, and so on. Then, people with high mobility and often drive motorized vehicles also need accident insurance.
Benefits Offered by Personal Accident Insurance
There are three benefits of having this type of insurance, namely:
1. Death benefit
Death benefits are the basic benefits that are definitely offered by insurance companies. In the event of an accident resulting in death, compensation in the form of cash will be handed over to the heirs.
Some may ask, what is the difference between accident insurance and life insurance . The difference is in the cause of death which is a condition for disbursement of compensation.
In life insurance, the heirs will receive compensation or sum assured if the insured dies due to illness or accident. Meanwhile, in accident insurance, compensation will be issued if the insured dies due to an accident.
2. Permanent disability compensation
Accident insurance also provides compensation for permanent disability caused by an accident. The definition of risk of permanent disability can be classified into two groups, namely:
Total permanent disability, such as loss of vision in both eyes or dysfunction of both arms. The insured who is permanently disabled due to an accident will receive 100% compensation.
Partial permanent disability, for example the malfunction of a part of the body, such as a broken left arm or leg due to an accident. Partial total disability will receive compensation proportional to the total compensation.
3. Reimbursement of medical expenses or treatment due to an accident
Personal accident insurance also offers additional benefits in the form of reimbursement of medical expenses or treatment due to an accident.
Actually, this benefit can also be obtained from health insurance. So, you need to be more selective in choosing the insurance benefits offered by the company.
Terms Before Buying Personal Accident Insurance
Tips for choosing personal accident insurance
Here are the requirements that you should pay attention to before buying this type of insurance.
Choose a good company reputation
There are many insurance companies that provide this type of insurance service. However, you should pay attention and choose insurance that has a good reputation. Reputation can be a benchmark for service quality and how to process claims or disburse insurance funds.
In addition, you also need to ensure the financial health of an insurance company that will guarantee the risks and additional benefits of insurance companies such as workshops, tow trucks, replacement cars and others.
Choose the type of protection as needed
This is quite important to consider so that the payment of insurance premiums is not a burden. Choose protection and premiums that suit your needs and budget.
Do a comparison
Before deciding to buy insurance, make sure you have compared various product options and insurance companies to get the best. Visit blogbebasapaaja to directly compare various insurance options.
Study the proposal well
Study carefully the offer proposals submitted by agents/brokers, especially the risks that are guaranteed and not guaranteed, the requirements that must be met, the method of paying premiums, the liability of the insured in the event of loss or damage.
When submitting, generally the data requested is related to age, type of work, employment history, risky hobbies, income or salary.
How to Buy Personal Accident Insurance
You can get this insurance at a trusted and certified insurance agent, insurance broker for complete risks, or directly contact the insurance company that guarantees the risk either through a call center, the internet, or visiting directly.
Calculation of Personal Accident Insurance Premium
As a policy owner, you have an obligation to pay a premium to the insurance company that has covered your risk.
The amount of the premium value is determined by the insurance company by taking into account, among other things:
• Your physical condition.
• Your medical history.
• Your daily activities.
• Your age.
• Experience of loss events that you have experienced
How to Claim Personal Accident Insurance
Before submitting a claim, there are several conditions that must be met for the receipt of claim funds. Here are the conditions.
- The source of the accident must be sudden or sudden.
- The source of the accident is from external factors and not intentional.
- The source of the accident was accompanied by violence.
- The source of the accident must be clearly visible.
- The arrival of the source of the accident is not desired
- The result of an accident must be physical injury.
- The cause and effect relationship cannot be broken.
After preparing the requirements above, here is the procedure that must be done to claim personal accident insurance.
- Fill out the claim form provided.
- Original doctor's statement regarding medical actions taken, including doctor's visa.
- Copy KTP.
- Copy of Insurance Policy.
- If there are other documents deemed necessary, the insurance company will request them immediately.
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