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All About Personal Accident Insurance.

Accidents can never be foreseen, and so does its result. However, one can always be prepared to deal with the costs associated with undesirable accidents by opting for personal accident insurance with the help of an insurance broker in Brisbane. Read on to have a comprehensive understanding of personal insurance and the coverage it offers. 

What Is Personal Accident Insurance?

Personal accident insurance refers to an insurance product that protects your finances against an unfortunate accident and the income loss experienced due to the accident. Personal accident insurance covers the loss from several accidents such as road accidents, rail, air accidents, collisions, fire, explosions and others. The insurance can be tailored to your needs so you can enjoy the benefits of personalised insurance

Not only this, the insurance product covers the cost of damage caused by accidents but also compensates for the loss caused by the accident that resulted in suffering or disability, preventing you from working. This means it will also give you a monthly income to continue your life without financial problems.

Types Of Personal Accident Insurance

There are two major types of personal accident insurance: individual personal accident and group personal accident insurance. 

Individual Personal Accident Insurance: This insurance product was acquired with the help of a professional indemnity insurance broker in Brisbane. It is responsible for covering individuals’ financial damage. The insurance offers more coverage for individuals than group insurance. Individual insurance covers the loss of an individual’s demise or the short-term disability caused by an accident. 

Group Personal Accident Insurance: This insurance is provided to the employees by their employers. The coverage under this insurance type is basic and does not offer many benefits that one gets in a standalone policy. 

What Does Personal Accident Insurance Cover?

A policyholder can enjoy several benefits with personal accident insurance acquired with the help of an insurance broker in Brisbane. These benefits may include:

  • Coverage for accidental disability: The individual who is a policyholder under this insurance and has experienced partial or complete disability, such as physical impairment and inability to work, can file a claim. The disability can be both permanent or temporary.
  • Accidental Death: In case of an accidental death, the policyholder can claim coverage for the loss. 
  • Accidental Dismemberment: The loss of any limbs, fingers, toes, sight, permanent paralysis and other impairments due to an accident can be covered under the accidental dismemberment policy of the insurance.
  • Terrorism Act: If the policyholder experiences any injuries caused by a terrorist, then it can be covered by the personal accident insurance acquired with the help of a personal indemnity insurance broker in Brisbane
  • Hospital Cash: If the policyholder requires hospitalisation, then the expenses of their stay, to some extent, will be covered under this insurance type. 

Eligibility Criteria

Individuals more likely to be involved in an accident due to their profession should opt for personal accident insurance with the help of an insurance broker in Sydney. Under the eligibility criteria, anyone 18 or above can apply for personal accident insurance. You can also apply online, as the insurance service is moving to digital insurance. The maximum age for a person eligible for this insurance is usually 65. However, you can discuss it with a personal indemnity insurance broker in Brisbane

How To Claim Personal Accident Insurance?

Policyholders need to know the process required to claim insurance in case they are met with an unfortunate accident. Late claims can sometimes get you no claims if your insurance expires before you file a claim. Therefore, it is essential to take a step as soon as possible.

  • Contact your insurance provider in Brisbane immediately after you meet with an accident. Inform their customer care through the website or the customer care number. 
  • Provide all the documents associated with the policy.
  • Provide all the forms or files for claiming the insurance.
  • Provide all the documents required for the claim depending upon the case, such as death, partial disability, total disability, etc. 
  • After you inform an insurance broker in Brisbane to assess the authenticity of the situation.
  • In case of rejection, they might seek other documents from the policyholder. 

Personal accident insurance provided by a personal indemnity insurance broker in Brisbane is a great product for those prone to the risk of being involved in an accident.

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