According to a survey conducted between 2019-2022 by the Office for National Statistics (ONS), an average of just over 575,000 people died in the UK following an accident each year. Injuries could number even more. With figures like these, it is almost impossible to see the likelihood of someone not meeting with some form of an accident during their lifetime. Uncertainty is a part of our everyday lifestyle. But coping with them does not mean that you have to endure the ‘bitter end of the stick’. With an accident protection insurance cover, hard times can turn out not so hard after all. Read on to find out how an Accident Cover insurance policy can make all the difference.
What is accident protection?
Accident Protection, also known as accident insurance, is an insurance policy that provides financial protection to an individual in the event they encounter an accident causing them to become disabled or untimely death. Accident protection is slightly different from conventional medical insurance. It acts more like an additional layer of protection in addition to a medical insurance scheme. Having accident protection in the UK can provide coverage for a range of unexpected mishaps that are not usually included in medical insurance cover.
Who does it benefit?
If your work involves high-risk outdoor work, or in construction and manufacturing, accident protection might be the ideal cover for you. Not just work, if you are into extreme sports, you may want to consider obtaining accident protection insurance. From broken bones to funeral benefits and permanent disability, accident protection insurance is applicable. If you need to know more about what other areas are covered with this type of insurance cover, speak to an expert insurance adviser at BVS.
Getting an accident protection cover assures your family members and loved ones of a lump sum payout in the event of unforeseen financial burdens and expenses following an accident. Extended hospital stays or even funeral expenses are not easy to manage without a financial buffer.
Accident benefit claims
As an initial step, in the event of disability or death of the insured party, the family will need to make a claim with their insurance provider. It is always best if you are familiar with the terms and conditions of accident protection insurance coverage. If you are not sure about the statements in the policy and would like more clarity, speak to an expert such as an insurance broker or adviser to get the relevant details. Understanding the protection policy will help you reap all the entitled benefits of the cover as well as be aware of any exclusions.
In the event of an accident occurring, notifying your insurance provider as soon as possible is important. This will enable the claim to be processed quickly, and in turn, release the payouts faster as well. Upon notification, you will also be required to furnish the necessary documentation regarding the accident and any resulting injuries in order to expedite the payout process.
While many insurance companies do offer accident protection insurance, it might be a good idea to evaluate the policies they offer to ensure your areas of concern particularly your job, work environment or extreme sport that you engage in will be covered in case of an accident.
Accident protection can provide peace of mind and financial security in the face of unexpected accidents or injuries, helping to ease the financial burden and allowing individuals and their families to focus on recovery and rebuilding their lives. If you haven’t thought about getting Accident Protection, maybe it’s time you considered it. The advantages are evident.
* Approved by The Openwork Partnership on 11.05.2023