Personal Accident Insurance
Life is uncertain and difficulties arise when our responses to the uncertainties are not flexible. People ignore many things which are really very important in life like the safety and security of yourself and your family. No one should compromise with the protection of their own life. So for the complete protection, you need to have Personal Accident Insurance. This protects you in crisis situation and provides you with financial assistance. SGI Philippines Personal Accident policy offers exclusive cover to the policyholder and provides compensation in case of disability or death caused by accidents or any other mishap.
There are Two (2) Types of Personal Accident:
- Individual Personal Accident
- Group Personal Accident
What is Individual Personal Accident Insurance Policy?
Have you ever wondered what would happen if you met with an accident that may affect your working ability? Or who will take care of your family and what about the financial losses? All of these are really a matter of worry. No one should put their life at risk and definitely try to secure their family future from all this. So here is everything you need to know about the Individual Personal Accident Insurance policy.
Individual Personal Accident Insurance policy secures every insured personnel against the uncertainties of life. It offers financial compensation in case of bodily injury leading to total or partial disability or death caused by accident. This policy has other optional coverage with additional premium such as Medical Expense Reimbursement.
Why you need to buy Individual Personal Accident Insurance?
In today’s busy world, there is hardly any day that passes when we do not hear of accidents taking place, whether on roads, at your workstation or even at home. So it is important to secure you as well as your family life from accidents. Every person depending on their age, health or occupation can buy Personal Accident Insurance policy. It definitely proves to be a saviour and it saves your pocket from high hospital bills.
Benefits of buying Individual Personal Accident Insurance:
There are many benefits to buying Individual Personal Accident Insurance. Some of them are:
- Hassle-free Claim Process
- Medical Expense Reimbursement
What SGI Philippines Individual Personal Accident covers?
Accidental Death: In the situation of accidental death, the nominee will be paid 100% of the sum insured shown in Basic plan or any other taken by policyholder. At time of loss, it provides financial assistance and support to nominee to live a good life ahead.
Permanent Total Disability: In the accident, if policyholder renders permanently disabled. Then this plan provides 100% sum insured for complete loss to insured. It covers bodily injury and provides financial assistance in case of emergency. The vision loss of both the eyes, total limbs loss, loss of one hand and one foot and absolute hearing loss, is liable to get compensation.
Permanent Partial Disability: If the policyholder suffers bodily injury like undergo eyesight loss in one eye or lost hearing in one ear or lost any finger that causes permanent partial disablement. Then the insured can make a claim. He is liable to get additional policy benefits, depending upon disability.
Temporary Disability: If insured suffer from an accident and endure temporary disability in the policy period. Then according to the policy, payments will be made depending on the agreed terms.
Group Personal Accident Insurance:
Group Personal Accident Insurance is suitable for a group of people. It may be working in an organization or running their own business, who wants to secure their employees from accidental death, permanent total disability, permanent partial disability and temporary disability. It can be done for large or small groups say schools, colleges, banks or any big business organization. It provides cover in the event of death or injury to insured caused due to accidents.