There are many insurance companies offering a variety of insurance policies to cover the safety of an individual financially. While the opportunities might be in plenty therefore choosing the right one often comes as a challenging step for most people.
Here are few factors which some of the leading American Professionals handling long-term disability matters advice their clients to be careful while selecting a personal accident plan.
a) How much do you want your personal accident insurance to cover you
b) What do you need whether you are looking for basic benefits or comprehensive benefit?
c) Check what does your insurance cover as it varies from insurer to insurer
d) Match the insurance plan with your needs, affordability, risk of occurrence and your occupation.
e) Evaluate the cost v/s Benefits of the personal Accident Plan
The above factors are important and must be considered while finalizing any insurance plan, moreover the prime concerns would also be to check out on the exclusions and limitations listed in the insurance policies. For example, for obvious reason the insurer will cover you only for any physical injury caused due to the accident therefore you will need to know that all risks of accidents are not insurable. All insurers as a general rule will not cover accidents caused by the Act of God or due to war, nuclear terrorism risks.
Here are some of the typical exclusions and limitations of a personal accident insurance.
a) If the insured person has been found under the influence of alcohol and / or other intoxicating drugs.
b) Injury which has been self inflicted such as attempt to suicide or insanity due to natural causes.
c) Any form of physical deformities prevailing before the accident took place.
d) Accidents occurring while pregnancy, abortion or AIDs and other complex matters related to it.
e) Any injury caused due to participation in any life-threatening sports, which increases the risk of death or accidents
f) Criminal Acts and many more
While some personal accident insurance policies have age limits and other might not limit accidents which happen around the world. As mentioned earlier, the policy terms and conditions vary from company to company, each time you like the description of an insurance policy take a deeper look into it before taking it. The best decision would be to consult an insurance lawyer to assess the insurance plan for you based on your lifestyle and other needs. consult your disability insurance lawyer to claim your disability insurance