Health Insurance Vs Personal Accident Insurance

Avneet will receive an income according to policy terms till such time that he is able to resume work.

Health insurance vs personal accident insurance. On the other hand a health insurance policy covers costs that are arising from any unforeseen hospitalization medical procedures. Health insurance can be subdivided into hospitalisation plan critical illness disability plans. Our accident health insurance may supplement existing insurance coverage by paying cash benefits for covered losses.

The disabilities however are only covered up to a specific percentage of the insured sum. Apply anytime during the year since accident insurance is not subject to the aca open. There are some key parameters that differ from a personal accident cover from a health cover.

Even with life and medical insurance in place an unexpected death accidental injury or illness can place a great strain on finances. Personal accident health insurance. Personal accident policies will cover dependants provided they are between the ages of 5 and 21 years.

Alongside health and life insurances financial experts believe that people should be equally concerned about putting in place a personal accident insurance policy cover. Not only during hospitalisation but health insurance plans cover all medical costs before and after admission. A health insurance policy provides no coverage against any disabilities caused by accidents but a personal accident policy provides cover for disabilities caused by accidents.

An equivalent is medishield life as a hospitalisation plan and careshield life as. Health insurance covers pre and post hospitalisation expenses. On the flip side the extra features available in a health insurance cover make it more expensive than personal accident cover.

That means it doesn t cover the aca s essential health benefits or pre existing conditions. But treatments which are not caused by accidents then cannot claim accident plan. It is not aca qualifying major medical insurance.