Here’s How You Can Safeguard Your Future from Accidental Deaths

When we are out on the roads, especially as two-wheeler riders or pedestrians, we are exposed to various risks. One of the biggest risks is a road accident.

If one is a sole-breadwinner in the family, it’s important for him/her to buy a personal accident insurance plan. In the unfortunate situation of a road-mishap, it covers the hospitalization expenses. In the event of permanent disability, it provides cash allowance. And in case, the insured person succumbs to his injuries, compensation is provided to his/her family members.  

What Do the Facts and Figures Say?

Let’s have a look at the facts and figures related to road accidents.

• The rapidly increasing number of deaths due to road accidents in India causes a loss of 3 percent to the GDP, on an annual basis.
• As per data, 5 Lakh people die in road accidents on a yearly basis. It causes an annual loss of 55,000 Crore Rupees.
• India has the highest number of road fatalities across the globe.
• Every 4 minutes, 1 person is killed in a road accident.

These jaw-dropping facts speak volumes about the poor road sense. People are always in a rush. The unnecessary honking creates noise pollution. In theory, people should drive responsibly and value a human life. But, the facts stated above reflect a sad reality.

This brings us to the question- how can you safeguard your future from accidental deaths? Well, you can’t fully ensure that. You can drive responsibly, keep a cool head while on the road, and most importantly, buy a personal accident insurance plan for your family. While you can’t safeguard your future a cent per cent, from accidental death, you can definitely secure theirs. 

The Worst Possible Scenario

Let’s consider the possible scenarios after you are involved in a road mishap.

These are 4 possible scenarios.

• Miraculously, you are safe.
• You are bruised. Fortunately, there are no severe injuries.
• You are partially or totally disabled.
• Unfortunately, you succumb to the injuries.

By the grace of God, if one of the first 2 scenarios is the outcome of the mishap, you and your loved ones are super lucky. Most people consider such situations as their wake up call or second birth, and they stop taking their life for granted and start valuing it instead.

On the other hand, the last 2 scenarios will be painful for you as well as your family. Without the coverage of an accidental insurance plan, most of your savings will be spent on your treatment and rest will be used for the survival of your family. Unless you have deep coffers, eventually the savings fund will be exhausted, and your family will slowly end up in a financial crisis.

However, if you have personal accident insurance coverage, the financial future of your family won’t be in jeopardy, thanks to the wise decision made by you. In case of hospitalization, the insurance plan will pay for the treatment expenses. In case of partial or total disability, it will provide a pre-decided allowance. Some insurance plans even pay for the education of up to 2 dependent children.

In case of death, though nothing can compensate your absence, the insurance provider will offer a pre-defined amount of money to your family, so that their future would be as bright as you wanted it to be.

Ensure the Financial Independence of your Family

For a family, losing a loved one is painful. It is a loss that no one can make up for. If that loved one was also the sole bread-winner, the family becomes financially handicapped. With no income in hand, the family will struggle to make the ends meet.

With the financial cushion offered by accident plans, your family has a chance to be self-dependent. 

Wrapping it up!!!

At the time of buying a plan, make sure you compare various insurance plans so that you can opt for the best one.  As far as the sum insured is concerned, it depends on the severity of the mishap and the income of the insured person. 

Before you zero down on a plan, make sure you read the policy documents very carefully so that you have a crystal clear understanding of your plan and its coverage. Go for a plan that fulfills your insurance expectations and is capable of compensating for your absence when you are gone.