Personal Accident Insurance: A Need or An Option?


Personal accident insurance is an essential product that most people usually ignore. This kind of insurance provides comprehensive protection in case unfortunate or unforeseen events that may afflict a person.

Accidents occur randomly and can lead to various losses and inconveniences, so a personal accident policy gives one a sense of security knowing that you and your family have adequate protection in the event of these misfortunes. It is worthy to note that there are various types of personal accident insurance that cover a varying range of accidents or incidents.

Is Personal Accident Insurance Important?

You’re probably wondering if it is necessary and just did a quick calculation about the number of accidents you have encountered in the past and how much they had cost you. In fact, some of us will need personal accident coverage, while others will never need the coverage.

The Unpredictable Nature of Accidents

No one in this world stays at home and earns money to survive. Scrap that, accidents can happen in the home as well. If you commute to work/ school everyday, it is interesting to note that in the Philippines, there is a high number of road accidents that occur every year. It is a fallacy to think that there is no probability of being a victim of an accident.

Insurance at Work: Is it Enough?

Company-sanctioned coverage is seldom enough, especially if your job is physically risky. Coverage is also never customised to your specific needs, so the only way to ensure sufficient and customised coverage is to take out a personal accident policy independently.

Savings Might not Suffice

In the event that you meet an accident and you ignored getting personal accident insurance coverage, your savings in the bank or even at home might not suffice to cover your expenses. Therefore, it would be best if you secure yourself financially with personal accident coverage. For example, if the PUV that you were in met an accident and you were badly injured; you would need medical assistance. Most private hospitals today in the Philippines will not attend to patients without first being assured that the patient is able to cover medical bills. On the other hand, the hospitals run by the government are too small to accommodate all the patients that are why some patients are forced to use their savings to get medical assistance.

There are many crucial reasons why you may need a personal accident insurance policy. However, it is for you to decide which policy is best for you. This article shows you how to claim your personal accident expenses.

Leave your comment