Why You Need It When You need it
too. Life insurance can be used by our family members when we passed on; health
insurance is to cover our health emergencies and medical needs. However, we should
also be aware of other personal policies that we can benefit from.
We do not know when an accident would happen. It may be at home, at work or
while on the road. You can never plan what to do before an accident but you can very
well prepare financially for such situations.
Insurance companies such as Axis Capital Group - with a group of companies
that branch out from its main office in Bermuda to America, Europe and Singapore -
offer personal accident insurance with the assurance to provide for your emergency
Imagine all the expenses you have to pay when you get into an accident:
medicines, doctor fees and hospital bills among others. Sure, you have your health
insurance but we all know it cannot cover all the expenses. If you have an accident
insurance plan, you can protect yourself against financial consequences.
Why is this important you ask?
If you are not yet convinced of those written above, here are the data for road
accidents alone that you can look into:
In the US, 30, 800 fatal road accidents happen every year. The European
commission has predicted and is already prepared for any road accidents until 2020
since they have 54,900 reported accidents in 2001. In Asia, countries such as India and
Indonesia have the highest accident rates. Indian road accidents have killed 1.2 million
people in the last decade with the frequency of traffic collision 40 times higher than the
rate in London. Accident insurance in Jakarta, Indonesia has also risen for the last 10
years since almost 420,000 are the victims of this fate per year.
When you have already thought about it, you may ask your insurer about this
policy, as most agents will bundle it with other insurance plans -given that they get a
very low commission from the sale. Thus, for example, a motor insurance policy will
probably have a personal accident insurance plan built into it, which you can enhance
by paying extra. Private insurance companies offer even better plans though the
premiums are obviously higher -however, these are designed to protect you fully against
any mishap that might have far reaching financial consequences.
Make sure you have a legitimate insurance like Axis Capital Group first so that
you don't get misled along the way and this is also to keep you from fraud and scams .