Personal Accident Insurance vs Health Insurance

Personal Accident Insurance vs Health Insurance

Personal accident and health insurance protect you from unexpected expenses that may arise due to an accident or illness. While they provide coverage for specific incidents, there are key differences before choosing which policy is right for you.

Personal Accident Insurance

Personal accident insurance provides coverage for personal injury resulting from accidents that occur while on your property or while traveling as part of leisure activity. This type of insurance typically pays out if you suffer an injury that prevents you from returning to work after the accident and requires medical attention for more than two weeks.

Coverages

Personal accident insurance covers you in the event of an accident. It can be purchased separately or as a comprehensive health insurance plan. This provides coverage for all or part of your medical expenses if you are injured in an accident. It also offers coverage for disability and the policyholder's death due to an accident.

Suppose a person loses their life in an accident. In that case, the sum is given to the nominee chosen by the policyholder while purchasing the insurance.

Health Insurance

Health insurance covers the cost of medical services necessary to treat injuries or illnesses not related to accidents or injuries sustained while participating in leisure activities (such as swimming). Health insurance also covers any prescription medications required by an individual diagnosed with a chronic disease or condition such as diabetes mellitus or high blood pressure.

Coverages

Health insurance covers a variety of conditions and illnesses. Still, one of the most important benefits is its pre and post-hospitalization coverage. The pre-hospitalization benefit covers the expenses of the insured person before or during hospitalization. The post-hospitalization coverage offers reimbursement for treatment after a person has been discharged from the hospital or clinic.

Health insurance plans do not offer coverages for disability or death, especially if any of these occur due to an accident.