How to Protect Yourself with Accident Insurance

There is no saying what the future holds for you. One day, you could be in perfect health, and then suffer from a serious illness or injury in the next. Of course, we would all rather focus on positive things that may come to us, but it also helps to be prepared for unexpected circumstances. This is especially the case if you are the primary bread winner for your family.

Preparing for the Unexpected

Accident Insurance is your way of protecting your future and the people you love. With this type of insurance, you can significantly reduce the impact of a sudden illness, a serious injury, or an accidental death on your family. You can use the benefits to meet your financial obligations, including:

  • Paying for your hospital bills
  • Aiding your recovery through medicine and rehabilitation
  • Covering other costs related to your treatment
  • Settling your recurring bills, including utilities

The type of coverage that you and your beneficiaries will receive depends on the amount of premium that you pay. It means that the higher the amount of the premium, the greater coverage and protection your policy provides. Ideally, choose the highest premium you can afford to ensure maximum coverage.

Cost Vs. Value

Applying for Accident Insurance is affordable at less than $3 per week. Considering that it already provides you coverage of up to several thousand dollars depending on your condition, and that the cost of the premium is significantly cheaper than the cost of hospitalization, it makes perfect sense to be covered.

Choosing Your Coverage

Accident Insurance covers you for a variety of serious injuries, which may range from the following:

  • Loss of sight
  • Loss of hearing
  • Loss of two limbs
  • Paralysis of all four limbs (quadriplegia)
  • Paralysis of lower body (paraplegia)
  • Paralysis of one side of the body (hemiplegia)

However, your insurer of choice might add a fine print on the type of injuries they cover and the level of coverage they provide. It is therefore important that you seek the help of qualified advisors before applying for a policy. Our advisors at Rate Detective will inform you on everything you need to know about Accident Insurance, and even show you a comparison of the country's top 9 insurers in order for you to make a sound decision on the matter.

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Published on October 10-rd, 2012 in Life Insurance
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.

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Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.