PERSONAL ACCIDENT

Personal Accident Insurance Plan by Red Cover Life Planning is a protection plan that provides medical reimbursement in the event of injury, disability or death due to accidents.  A business would buy this to cover financial loss from the death or disability of a key person of the company from an accident.

Personal Accident Insurance Plan

Our Personal Accident Insurance Plan provides round-the-clock coverage, so you and your family will be assured of timely financial assistance should an accident happen.  Personal accident insurance can be provided in two ways:

• as a stand-alone policy – either individually or as part of a group policy, where an employer takes out the policy on behalf of its employees; or

• as a benefit included as part of another product – for example, with travel insurance or a bank account.

Most personal accident policies pay out lump sum benefits when the policy terms are satisfied – which usually means when the consumer dies or suffers bodily injury as a result of an accident or unforeseen event.  Policies usually state that the consumer is not covered if the death or injury is caused by “sickness, disease or any naturally occurring condition or process”.  To be met, the consumer’s claim must not fall within this or any other exclusion clause in the policy.

Generally, personal accident insurance policies cover as standard:

• death
• permanent total disablement; and
• loss of, or loss of use of, a specified body part (such as a limb)

Some policies also cover permanent partial disablement, temporary total disablement and/or temporary partial disablement.   But personal accident policies only offer protection against accidental death and bodily injury – and not against sickness or general disability, which may be covered by other types of insurances.

Personal Accident Policies

 Home insurance property coverage typically helps in:

Option to boost your coverage

For the first five years, you can enjoy additional 5% coverage for accidental death and dismemberment benefit every time you renew your policy.

You have the opportunity to add to the following benefits to enhance your coverage :

• Weekly Indemnity Benefit – To receive payouts of up to 52 weeks per accident if you are incapable because of an unfortunate accident.
• Emergency Evacuation & Repatriation Benefit – We will take care of the cost of emergency medical evacuation and repatriation services of up to $100,000 if you are injured or ill while oversea.