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Accidents and injuries are unpredictable for everyone. Even if you are an indoor person, you could still face a surprise accident. Accidents could happen anywhere from your home to an extreme sports location.

There are some accidents that can change your life for a short period or even forever. An accident can lead to serious medical issues, which can affect your income, your daily actions and, indirectly, your family.

Dealing with such accidents can be stressful physically, mentally and financially. Having the right medical insurance is vital to dealing with the medical expenses in most accidents. However, in many sudden accident cases, you may need more.

Personal accident insurance is a great addition to your current medical insurance to get the best overall medical and accident coverage. Hence, the article will explain the importance of personal accident insurance with medical insurance.

You and your family may need personal accident insurance more than you think.

What is Personal Accident Insurance?

Personal accident insurance is a policy that financially covers surprising accidents that cause bodily injury, permanent partial disability, permanent total disability or death. The insurance policy compensates the injured to help them deal with the financial burden that follows a severe accident.

The insurance provides some coverage that a typical medical insurance may not. However, it is essential to understand that insurance will not cover any illness or disease; hence, the policy itself is never a replacement for medical insurance.

Personal accident insurance in compliance with medical insurance can help anyone, no matter your lifestyle or age.

Importance Of Personal Accident Insurance

Recovery Coverage

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When one faces a severe accident, a recovery process follows. Recovery treatment is crucial to increase the chance of returning to everyday life in the best possible healthy way. The recovery process helps relieve pain, help movement and strengthen damaged muscles.

Recovery treatment can include physical therapy, ultrasound, and more, depending on the injury. Regular recovery treatment can be expensive and may not be covered by your medical insurance. A 40 to 60-minute session can cost from HK $ 1,000 to 3,000. Multiple sessions till full recovery can result in hefty bills.

An importance of personal accident insurance is the recovery treatment coverage. The policy will provide a specific value that can be used for medically suggested recovery treatment. The treatment must be recommended by a professional and related to the accident to be covered. Recovery coverage can help avoid large financial burdens and recovery with less stress.

Disability Coverage

Unfortunately, there are some instances where accidents lead to disabilities. The disabilities can be either partial or permanent disability. The disability can completely change your life and make every day-to-day task harder.

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The disability may affect the ability to perform jobs and cause an income disturbance. A permanent disability may also result in job loss depending on the disability and ability to perform the current job.

The loss of wages is a serious problem, especially for sole providers in families. If it is not a work injury, employee compensation insurance will not cover the salary loss and will not compensate. Medical insurance may not provide disability compensation either (depending on the policy).

Thankfully, personal accident insurance will provide a compensation cover for partial or permanent disabilities. The insurance will provide the sum to cover the income loss; the value may depend on the severity of the disability. However, the cover has a limit to its value and may not be enough for long-term loss.

International Coverage

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As mentioned, accidents could occur anywhere, which means they could occur anywhere in the world. Sudden accidents overseas can be horrible and costly, especially in a new country.

International medical insurance can be extremely expensive; most opt for local coverage. This means accidents during travelling will not be covered – unless you have purchased travel insurance. 

However, the travel insurance medical cover has many limits and will not cover any sports or high-risk activity accidents. Therefore, if you break your shoulder while skiing abroad, neither your medical nor travel insurance will cover the medical expenses.

Fortunately, personal accident insurance can provide international accident coverage at a reasonable cost. Some personal accident insurance may need to increase premium to offer the international coverage, but it is still affordable compared to other options.

In addition, the insurance will cover any accident, including sports accidents abroad. It might be the perfect insurance for your adventure holiday. Travellers can also purchase the insurance just for their travel plans (short-term policy).

Easy Claim Process

Most medical policies take a long time and require various documents to get the final insurance and submit a claim. The documents are essential for each insurance to provide the best coverage. 

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These documents help understand the chances of illness, past behaviour and coverage details. However, no matter the past or present, accidents can occur, and immediate attention and payout are needed.

Personal accident insurance differs from most medical insurance, as the policy doesn’t require many documents or medical tests. The insurance payout is also known to be a quicker and easier process. The accident insurance makes dealing with claims much easier and more efficient.

Why You May Need Both Personal Accident Insurance and Medical Insurance

The article has explained why personal accident insurance is beneficial and what it can do for its policyholders. However, this does not mean it can be stand-alone medical insurance. Illness/diseases also occur without warning, and personal accident insurance at that point will not be enough.

The insurance is the ideal extension to most medical and health insurance policies. The policy is also reasonable compared to most other extensions. It is the perfect financial cover post-accident; policyholder can focus on their recovery rather than stress about every penny spent.

Having both personal accident insurance and proper medical insurance is the best way to be protected from unpredictable accidents or health situations.



To Learn More about personal accident insurance and financially cover yourself from accident injuries, contact Red Asia Insurance.