Insurance is an arrangement in which an Insurance company undertakes to provide protection from a specified financial loss for example damage, death, illness in exchange for a specified fee (Premium). Personal Accident is a comprehensive insurance cover that is designed to provide compensation in the event of an injury, a disability or death of the insured. This occurrence is more often than not life changing and this is where our Personal Accident cover comes in. The Personal accident cover can be either an annual cover or a short-term cover. We work with the best insurance companies to ensure that we provide the best benefits to you, our insured, in case the unforeseen happens.

Benefits of Personal Accident Cover

This policy pays a lump sum amount following an irreversible situation or disability that makes one unable to pursue gainful employment.

Some of the benefits under the Personal Accident (PA) cover include payment in the event of;

Temporary Total Disability– this refers to illnesses or injuries that completely affect an individual but for a short time period. These conditions normally keep you incapacitated or out of meaningful work for a short period but they eventually result in full recovery. Some of the temporary disabilities may include but not limited to concussions, broken limbs, and short-term impairments caused by surgery or medical treatments.

Permanent Total Disability- this is a condition in which an individual is no longer able to work in his or her own, or any other occupation they are suited to work. An individual is said to be permanently disabled if they have reached maximum medical improvement and a doctor declares that their condition will not improve in the future. Examples of cases of Permanent Total Disability include, being paralyzed due to spinal cord damage, experiencing serious traumatic brain injury, loss of multiple limbs, suffering severe burns on a significant portion of the face or body, cases of total blindness.

Medical Expenses following an accident – this covers the actual cost of medical, surgical and hospital related expenses reasonably incurred for treatment resulting from an accident as defined in the policy.

Death Expenses following an accident– The personal accident policy covers the death of the insured if it occurs within the 12 months resulting directly and independently of any other cause from the accident

Key Considerations When Choosing a Policy:

  1. Coverage Limit: Evaluate the coverage limit provided by the policy to ensure it adequately meets your needs, considering factors such as medical expenses, disability benefits, and death benefits.
  2. Exclusions: Understand the exclusions outlined in the policy, including pre-existing conditions, risky activities, and specific types of accidents not covered. Be aware of any limitations that may affect your eligibility for benefits.
  3. Premiums and Deductibles: Compare premium rates and deductibles from different insurance providers to find a policy that offers comprehensive coverage at an affordable price. Consider factors such as your budget, coverage requirements, and any discounts available.
  4. Policy Terms and Conditions: Read the policy terms and conditions carefully to understand the scope of coverage, claim procedures, waiting periods, and renewal provisions. Ensure you are aware of any contractual obligations and responsibilities as a policyholder.

Personal accident insurance cover plays a crucial role in safeguarding individuals and their families against the financial consequences of unforeseen accidents. By providing comprehensive coverage for medical expenses, disability benefits, and death benefits, this insurance offers peace of mind and financial security in times of need. When choosing a policy, it’s essential to carefully evaluate your coverage needs, compare options from different insurers, and select a policy that best suits your requirements and budget. Investing in personal accident insurance is a proactive step towards protecting yourself and your loved ones from life’s uncertainties.

Should you wish to get some guidance on how to get the Personal Accident Insurance , Springboard Capital is here for you. We’ve offered financial support to individuals and growing businesses for years on years, and have watched them successfully grow. We offer various loan products such as Logbook Loan, Business Loan, Emergency Loan, Asset Financing, Salaried Loan, and Loan against Logbook, Import Duty Financing or Title Deed Loan, to help grow and manage all operations.

Contact us today at 0700 944 444 or WhatsApp us through the button below, or email us at info@springboardcapital.co.ke.

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Article written by Mavelyne Bosire.-Mavelyne is an insurance professional with a Bachelor’s Degree in Bcom,- Insurance option.With a few years of experience in the insurance industry, Mavelyne has handsome knowledge in underwriting and claims processing. She is very passionate about insurance, and in her free time she enjoys reading books and watching movies.

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