The Personal Accident Insurance Policy and claims settlement make it much easier to rely on BIB in the event of death or permanent disability, whether total or partial, caused by an accident. The Policy may be extended to cover the reimbursement of medical expenses, up to a stated sum, incurred as a result of an accident.

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Cases of death, permanent total or partial disability, or temporary disability that arise from or are directly or indirectly related to any of the following cases are not covered
Due to performing military service in times of peace, war, disobedience, revolution, or conspiracy against the regime
Atomic dangers or nuclear reactions, whatever their cause or source, in times of peace or war
Traveling on military aircraft
Suicide or attempted suicide, whether consciously or unconsciously
Suicide or attempted suicide, whether consciously or unconsciously
The participant intentionally injured himself or exposed himself to an unusual risk, or because he committed or attempted a crime
Loss of will due to insanity or falling under the influence of drugs or alcohol

None of us guarantees that we will not be exposed to accidents in all their meanings, for example, some of us may be exposed to accidents on the way to work or during the work itself, or by the occurrence of a natural death accident, hence the idea of having a personal accident insurance policy.

The Personal Accident and Claims Settlement policy is one of the benefits that you can get on your own or as part of the insurance coverage that companies offer to their employees. The procedure guarantees compensation to the heirs of the insured with a sum of money in the event of death as a result of an accident, or compensation of the insured in cases of permanent total or partial disability or temporary total disability resulting from an accident.

What is the definition of personal accident insurance?

The concept of personal accident insurance is summarized as an insurance policy that provides the holder with full financial protection in cases where he is exposed to death as a result of accidental accidents, bodily injuries, partial/total disabilities, and permanent and temporary disabilities resulting from an accident.

In the event that the policyholder dies, the candidate receives 100% compensation from the insurance company, and there are many other compensations that the insurance company provides for an accidental disability such as loss of eye, limbs, and speech.

What are the reasons why you should buy a personal accident insurance policy?

An accident comes without warning, it can happen anytime, anywhere, and may result in minor to serious injury. The occurrence of these types of injuries exposes people and their families to a significant financial crisis, so we always recommend purchasing a personal accident insurance policy, as this policy gives you the necessary financial assistance for you and your family in cases of accidental death, physical injury and disabilities (partial/permanent/temporary).

There are many other benefits offered by accident insurance companies such as:

  • Cover the cost of hospitalization.

  • Compensation for hospitalization allowance.

  • Coverage of medical expenses.

The personal accident insurance policy provides the financial return as follows:

  • In cases of death.

  • In cases of permanent disability (total and partial).

  • Provide weekly or monthly income (optional).

  • Bear the medical expenses in case of temporary total disability as a result of an accident (optional).

  • Bear the costs of funeral and obituary expenses, as well as the costs of obtaining a death certificate.

How does personal accident insurance help you?

Personal accident insurance includes many advantages that a large part of people look for personal insurance, it is:

  • People are insured against accidents up to the age of 64.

  • Securing the family of the injured person.

  • In case of temporary disability, the company provides compensation of 70% of the weekly income.

  • Additional benefits are available in case of accidental death.

  • Provide a hotline to communicate with customers and their families around the clock with the dedicated customer service team.

  • Approve claims quickly.

What are the types of personal accident insurance policies?

Accident insurance policies can be divided into two subsections. Following:

Individual Accident Insurance:

This type of policy protects the individual in case of any accidental damage. It covers accidental death, loss of limbs or vision, or other permanent disabilities resulting from an accident.

Group Accident Insurance:

Employers take group accident insurance to get coverage for their employees. Depending on the size of the group, some insurance companies have also offered a discount on the insurance premium. It is a good incentive / added value feature for small enterprises because it is available at a low cost. However, this is a very basic plan and may offer limited advantages compared to the individual plan.

Types of Personal Accident Cover

You can avail of the following coverage benefits through a personal accident insurance policy:

  1. Accidental Death Coverage:

In cases of accidental death, the family and persons become family members of the insured in a morally and materially unfortunate situation, in which case the full amount of the policy is paid to the nominated person as stated in the insurance policy.

  1. Permanent/Total Disability Coverage:

In an accident resulting in permanent disabilities or lifelong total impairment such as loss of both parties, a specific sum insured is paid to the policyholder.

  1. Permanent Partial Disability Coverage:

In accidents that result in bodily injury or permanent partial disabilities, a certain percentage (up to 100%) of the sum insured is paid.

  1. Temporary Total Disability:

In the event that the insured suffers from temporary total disabilities due to which he becomes bedridden,

The insurance company will provide weekly material compensation to compensate for the loss of income.

What are the inclusions and exclusions of personal accident insurance?

Personal accident insurance guarantees financial compensation for you or your loved ones in the following cases:

  • Death in an accident.

  • Permanent total/partial disability.

  • Accidental injuries.

  • Weakness or distortion resulting from an accident.

  • Medical expenses/treatment fees until recovery.

  • Treatment in cases of burns and fractures of the bones.

  • Ambulance costs.

  • Weekly compensation if the policy includes it.

Compensation is also provided in the event of an accident while traveling by train, flying, on the road, sinking, due to collision, bodily injury, etc.

Exceptions include:

  • Natural deaths.

  • Pre-existing disability or injury.

  • Childbirth or pregnancy.

  • Suicide or self-harm.

  • Damage caused by the effect of liqueur.

  • Committing and injuring a criminal act, or having a mental disorder.

The difference between accident insurance and life insurance

The personal accident insurance policy covers the cases of death or disabilities resulting from an accident, but the life insurance policy covers the death of the policyholder regardless of the cause of death, and the main differences between personal accident insurance and life insurance are as follows:

  • Death Cover: The life insurance policy provides material compensation regardless of the cause of death, while the personal accident insurance policy is limited to compensation in the event of death resulting from an accidental accident of the policyholder.

  • Death Coverage: The life insurance policy gives you compensation in the event of death even if the insured dies months or years after the illness, but the personal accident insurance policy it provides compensation even if the insured dies immediately or within the specified time frame after the accident.

  • Partial disability coverage: If there is an injury resulting in partial disability, limb, or vision, the personal accident insurance policy will provide you with compensation in that case, but the life insurance policy does not cover partial disabilities.