Accidents and illness are unpredictable. For this very reason, Personal Accident Insurance is of great importance to protect both yourself and your loved ones against unforeseen circumstances.
By taking out personal accident insurance without wasting time, you can insure yourself against the financial difficulties arising from the treatment process you will face in case of accident, disability or injury, and you can enjoy the peace of mind of securing your family’s future in case something happens to you.
What is Personal Accident Insurance?
Before answering the question of what is personal accident insurance, it is necessary to define the concept of “accident”. An accident is a sudden and external event that causes a person to lose his/her life against his/her will or to suffer a physical impairment.
Personal accident insurance, on the other hand, is a type of insurance that makes it possible to cover the expenses arising from the treatment process and hospitalization in cases of disability or injury that the insured may experience after an unexpected accident, and provides coverage against the financial difficulties that family members will face in case of death.
There are two types of personal accident insurance: individual personal accident and group personal accident. This insurance coverage is also valid outside the borders of Turkiye.
What is the difference between personal accident insurance and life insurance?
While life insurance is a type of insurance that covers all types of death, personal accident insurance only covers the risk of death resulting from an accident.
While a person with a life insurance policy can benefit from health services in case of illness,
A person with a personal accident policy can benefit from health services as long as he/she suffers physical damage due to an accident.
Personal Accident Insurance has great advantages for both the insured and the insured’s family.
✔️ In case of permanent disability resulting from an accident, the compensation received reduces both the financial and moral burden of the insured.
✔️ In the event of death as a result of an accident, the insured’s relatives or heirs written in the policy can receive compensation.
✔️ If additional coverage is included, compensation can be received in cases of permanent disability and death due to natural disasters such as earthquakes, floods, landslides.
✔️ In case of inclusion of additional coverage, the expenses of treatment after the accident, daily hospitalization and intensive care indemnities are also covered by the personal accident insurance.
What are the Situations Excluded from Personal Accident Insurance?
- Use of chemical weapons
- War, rebellion situations
- Accidents caused by motorcycles and dummy motorized bicycles
- Terrorist acts and sabotage
- Situation due to strikes, lockouts and riots
- Murder, attempted murder
- Accidents resulting from participation in sports and speed races
- Mountaineering, accidents arising from sports on snow
- Damages that may occur during hunting and outdoor fishing are excluded from personal accident coverage.
How is the Personal Accident Insurance Price Determined?
Personal accident insurance prices and insurance cost calculation are among the most curious topics. Factors such as the age and occupation of the insured are taken into consideration when determining the personal accident insurance price.
The coverage under the policy and the amount of damage compensation are also among the points that affect the policy price.
