Medical Coverage in a Car Accident Author:    Posted under: Auto InsuranceAuto Insurance TypesHealth InsuranceHealth Insurance Types


When we acquire medical health insurance plans, people often mistake that they are also covered in the event of an accident.  However, it is not the case.  Health insurance is completely different from an accident insurance plan.  It is often a rider or bundled within the insurance plan that you are paying for.

Simply put, accident insurance is a policy which secures a payout when the insured experiences injury due to an accident or sudden death.  Some may consider this an unnecessary expense, given that you are basically paying for something that you may not ever need.  However, think of it this way. A simple visit to the emergency room can cost you thousands of dollars, and continuous treatment, if needed, will surely put a hole in your pocket.  If you are not financially ready to answer to medical expenses that can result to injury, then it is always best to invest in an accident insurance.

Accident insurance does not cover any accident that may be caused by negligence, acts of God, or any natural disasters.  Even those activities or professions that may be deemed risky by the insurance company may be listed as restrictions or limitations to the policy.

This type of policy lists very specific payouts especially when it involves the loss of a body part.  Medical care in this instance is also covered, and in the event that permanent disability resulting from the accident also happens, the insured will also receive a sum that s/he could live on moving forward.  Payouts are also structured to be received by the insured if in case s/he is unable to work given the injuries that were sustained in the accident.  If in case of death of the insured, the beneficiaries will get a lump sum from the insurance company.

There are a number of common types of accident insurance.  The first of which is individual, wherein it usually covers partners and children.  However, known exclusions of this policy is for those occupations or hobbyists with high risk of injuries, such as mountain climbers, for example.  The second type is for children, mainly protecting the family if in case the parent cannot work due to an accident.  The third type is group, which companies normally avail of.  The fourth type is self-employed, for those who have their own businesses and who may not be eligible for employee benefits.  The fifth type is team insurance, where the whole sports team for example, gets covered under one insurance plan.  The sixth is professional accident insurance.  This is mainly for specialized, self-employed professionals, such as sportspersons, or doctors, who may have special health requirements.  The seventh is for those over 50, as accidents normally pose higher risks for them considering their age.  The last is travel accident insurance, if in case the policyholder is not in his home country when s/he encounters an accident.

It is always wise to invest in these securities.  With the physical and emotional trauma that an accident brings, it is best that you have something solid to depend upon, to answer to the financial needs that have to be addressed.  Although it may not completely provide complete repayment of your expenses, it will certainly ease the burden that resulted from the accident.

Sources:
http://ezinearticles.com/?Help-During-Accidents-With-Accident-Medical-Plan&id=3386571
http://www.wisegeek.com/what-is-accident-insurance.htm
http://www.economywatch.com/insurance/accident/

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