If you are injured, your health insurance may be able to cover some of your expenses if you are hospitalized – but what if you are not hospitalized or the bill exceeds your health insurance coverage? It’s worth considering a personal accident insurance policy. With health expenses in the United States increasing every year, an individual accident insurance policy is an essential complement to your health insurance to protect you against huge medical expenses.
What is personal accident insurance?
Personal Accident Insurance (PA) is a stand-alone policy that covers outpatient and hospital medical expenses incurred as a result of an unforeseen accident. What makes personal accident insurance a useful policy is that it helps offset the financial hardship you and your family may experience as a result of your accidental death or permanent disability.
Health insurance only covers medical expenses incurred while you are in hospital, not other expenses caused by your temporary loss of income, the need for physiotherapy, or other recovery treatments. PA insurance covers hospitalization and medical expenses for accidental injuries that may occur while exercising or playing your favorite sport such as physiotherapy. PA Insurance also provides optional coverage for infectious diseases such as foot and mouth disease and dengue fever.
If you are a sports enthusiast in your 20s, having PA insurance to supplement your health insurance policy is more necessary than you might think. A study on sports injuries has shown that 65% of sports injuries occur in patients between the ages of 5 and 24, with over 60% of all sports injuries being sprains, strains, and fractures. In addition, nearly 50% of all sports injuries involved general exercise and popular sports such as cycling, soccer, and basketball.
PA policies provide several “pillars” of protection that take effect from the time after an accident until recovery, disability, or death is confirmed