Smart Choice Accountancy

Accident insurance that gives you the peace of mind

Nowadays insurance companies offer a whole range of various insurance options, both for individuals and companies. We can insure almost everything, from life, through cars and properties to animals. We can also insure ourselves in the case of disability, sickness, loss of income or accidents, which is worth a thought.

Accident Insurance is a very useful option, which can protect you against tragic events in your life. This is important both when we are single, but also when we have the family to support, and in the case of our inability to work, the family financial situation may be tragic. It is good to think about ourselves and our family and safeguard our livelihood.

What does accident insurance give us?

Depending on which option we will choose, the insurance covers a variety of situations directly related to the accident.

First of all, we can purchase accidental death insurance, which means that the beneficiary will get a certain amount of money after the death of the insured, if it is directly related to the accident. This is a good option to choose when we have the family and want to protect our loved ones.

There is also a permanent injury insurance, which covers for instance such situations as amputation, total loss of use of arm or leg, loss of sight (one or both eyes), loss of hearing (one or both ears). The insurance policies usually have a worldwide cover, so no matter where the accident happens, we will be entitled to the insurance amount. However, we have to bear in mind we will not receive the money from the policy in the case of disease, illness or gradual loss of eyesight or hearing (unless the gradual loss results directly from the accident).

There is also a special type of sickness and accident insurance, which will provide us with the monthly tax-free income and help us to pay our bills, mortgage or rent, food and costs associated for instance with car maintenance. However, the amount we receive will be equal to 50-80% of our earnings. We will not be able to get the full amount of our income, because it might prevent the insured from coming back to work.

How to claim the payment?

There are certain steps we have to follow after the accident occurs and it becomes impossible for us to work. In the majority of insurance companies, the procedure is similar. First we have to gather all documents received from your doctor and fill out the claim form. Then we insurance company verifies if we are eligible to the receipt of the insurance amount and decides whether we will get the money.

In addition to the peace of mind, the accident insurance will allow us to maintain our financial condition, even when we lose the ability to work and earn income due to the accident we have experienced.

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