Buy the Best Accident Insurance and Secure Your Family from Financial Crunches

No matter how much careful you are while crossing roads, or how smoothly you ride a vehicle, you can hit with an accident anywhere and at anytime. Life is uncertain and there are a few things that are not in our control. Accidents are one of them and can occur without any prior notice. Hence, it becomes extremely important to get the best accident insurance plan and protect yourself from getting stuck into any financial condition.

The best accident insurance can be the one which provides coverage against both death and disability. Apart from this, you can also enjoy certain benefits like:

1. In case of your death due to an accident, your nominee will get a specific amount as death cover.

2. If you face an injury or disability in the accident, you will be given some amount for covering medical expenses. Besides, in case of disability you will also get monthly remuneration only if you are placed in an organization at the time of the accident.

Just like choosing the right policy, it is equally necessary to pick the one from a trusted insurance company. IFFCO Tokio is one such insurance firm that provides you with so many choices for insurance policies. However, you still need to consider certain pointers before buying one. Some of them are as listed below:

1. What the Policy Covers

While buying the best accident insurance, the very first thing is to look for the accidental events that are covered by the policy. Pick the one that not only includes road or train accidents, but also the ones like slithering on the steps of your home, fire at home, etc.

2. Compensation Amount

Payable compensation amount must also be considered when making a choice. This amount depends on numerous factors like family size, employment status of your spouse, risk involved, and so on. Don't forget to check the amount compensated to your family in case of your death, monthly payment for medical bills, etc.

3. Payment Share in case of Temporary/Permanent Disability

In case of death and disability, the payment amount is going to be different. Therefore, it is quite essential to know the assured sum as the risk compensation prior to shopping for the best accident insurance.

4. Exclusions and Limitations

Exclusions and limitations are other important things to notice over here. Avoiding any one of them can make your claim void, under specific circumstances. Some of the exclusions include:

1. Persons above 75 years of age are not eligible for accidental insurance
2. Driving under the influence of alcohol or drugs
3. Injury caused by an existing impairment
4. Accidents caused due to involvement in sports like sky diving, polo, etc.
5. Accidents due to reasons like riotous conditions or war-related events
6. Participation in any criminal act
7. Suicide or self-inflicted injuries
8. Working in the armed forces
9. Infected with HIV/AIDS

You might lose the benefits of the insurance under the possibility of any of the above mentioned events. It is therefore advisable to look for any alternative provision in this regard.