Here Is Why Seniors Need Personal Accident Insurance

 


Accidents can happen to anyone. Whether you head out to work daily or are at home, you are at possible risk of a mishap. And, a single unfortunate incident that sees you sustain a major fracture can prove extremely costly. Which is why, you must secure yourself with a personal accident insurance plan.

A personal accident insurance plan covers you against death, permanent total disability, permanent partial disability, and temporary total disability after an accident. The payout received from this plan can go towards helping you meet your financial responsibilities.

Now, many people often feel that only the breadwinner of the family who goes to work each day requires personal accident insurance. Hardly anyone seems to focus on the fact that seniors living at home too require the protection that this plan can bring. In this article, we take a look at why senior family members too require coverage from personal accident insurance.

1.      Death benefit

If the insured person meets an accidental death, their nominee gets paid the death benefit. This payout can be a life-saver for a senior who leaves behind their spouse with no active source of income or monetary support. The death benefit sum ensures that a senior surviving spouse can live with dignity, without having to reach out or ask anyone else for funds.


2.      Coverage for disability due to an accident

If an accident sees you lose both limbs or both eyes, you get paid 100% of the sum insured. There are also payouts offered for a range of other permanent or temporary disabilities suffered due to an accident. Remember that the elderly often go out on their own for grocery shopping or evening walks. A single unfortunate incident can prove to be absolutely devastating.

The payout from a personal accident insurance plan can help your senior parents pay for domestic help and professional medical services that are required due to an accident. It may also help them afford certain modifications at home, such as lowering cabinets to be wheelchair accessible, and so on. Your senior parents may have medical insurance but, even that coverage does have its limitations. A personal accident insurance plan can help fill any gaps in medical insurance for protection that is truly holistic in nature.



3.      Extends overseas

If your elderly parents decide to travel to a foreign country on their own, their personal accident insurance will usually cover them against unfortunate incidents overseas too. This can help give you true peace of mind, knowing that they will not be stranded in case of an unfortunate incident. Unexpected costs that arise due to an accident can be especially expensive abroad. Do make sure to check with the insurance provider what exactly gets covered when your senior parents travel overseas. Each insurance company may have their own terms of coverage.

As we can see, a personal accident insurance plan holds many benefits for seniors. So, make sure to secure your parents and parents-in-law with the coverage that this plan brings. We hope this article has helped you. Take care. 

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