Why You Need It When You need it
l know that insurance is essential in our lives and a very good investment 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 needs. 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 .