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Health Insurance and Personal Accident Insurance: A Comparison

Posted On : 19 April 2023, 1 Years Ago. Health-Insurance
Health Insurance and Personal Accident Insurance

A good standard of living is judged by proficient insurance plans and a good health plan is a key aspect for any individual and their family. To have a peaceful, tension-free life knowing that your medical bills are covered and your healthcare needs fulfilled is surely something that everyone seeks. 

 

Health insurance and personal accident insurance policy are vital in any person’s life. However, what often becomes difficult to figure out is what works out best for you, the best accident insurance policy or a health insurance policy. 

 

This blog will discuss what a health insurance policy is, what accident insurance actually aims to provide and discuss the distinguishing factors between the two.

 

Health Insurance

Health insurance, in simple terms, means that in case of any medical emergency, a health plan will ensure reimbursement of the medical bill, or the insurance company will cover the entire expenditure. 

 

The pros of having health insurance do not need elaboration. The purpose it serves itself gives you the reason why it’s so important. 

 

Some major benefits include:

  • Financial security
  • Hospitalisation
  • Pre and post-hospitalisation expenditures
  • Regular Health check-ups
  • Deal with any medical inflation
  • Protect your savings as well

 

Now that you know in a nutshell the importance of healthcare insurance, let’s move on to personal accident insurance policy.

 

Personal Accident Insurance

Accidents are a synonym for unpredictability, and hence a personal accident Insurance policy  is extremely essential, especially in a country like India, wherein reckless road accidents take place every day. Apart from road accidents, there are various other catastrophes that can occur and having personal accident insurance in India becomes crucial.  

 

Personal accident insurance covers the dire consequences of any accident, i.e., temporary disability, permanent disability and death.

 

Again the best accident insurance ensures various benefits.

 

Some major benefits include:

  • Weekly payments in case of temporary injury
  • Lump sum amounts in case of permanent injury or death
  • Also covers daily hospital allowances
  • Child education support
  • Low cost

 

Having discussed the need for promising healthcare insurance and best accident insurance, let’s move on to the differences between these two and which one you should opt for. Both policies are equally necessary for any person’s life. 

 

Healthcare Insurance vs Accident Insurance

In today’s world, with rising prices and rapid advancement in medical services along with increased medical emergencies and casualties, any amount of coverage seems little. Hence it becomes all the more necessary to have both insurances done for you and your dear ones.

 

In the long run, medical insurance might seem like the better option to any citizen applying for it, however, if we consider the different services provided by healthcare Insurance and accident insurance policy respectively, we will realise the exigency of both. 

 

Health Insurance

Accident Insurance

  • It covers your medical bills 

  • It also takes the responsibility of coverage of hospital charges.

  •  It does not provide death coverage.

  • Provides coverage for pre-existing diseases. 

  • You can also buy add-ons like Maternity benefits. 

  • It covers the expenses of injury.

  • Not just injury, it also coverspartial and permanent disability charges.

  • It also involves death coverage 

  • Does not provide coverage for pre-existing diseases

  • Covers the loss of pay 

 

The above table gives you an overview as to how both these policies cater to your healthcare needs. Health plans promise coverage for the long run along with the advantage of add-ons as well, an accident insurance policy focuses on various other aspects that are often not covered under health insurance. For instance, one of the major ones is death coverage. You can also check the total coverage an accident policy offers you with the help of a personal accident insurance policy premium calculator.

 

A good healthcare plan coupled with accident insurance will be a saviour for you in the long run. An accident insurance policy with a promising health policy will undoubtedly deliver all your healthcare requirements. It’s never too late to ensure your and your family’s protection against dreadful incidents that might befall any individual.

Secure your health with comprehensive insurance plans from Nivabupa

Tell us a bit about you

Whom are you buying for ?
Myself Icon Individual
Wife Icon Husband & Wife
Family Icon Family
Enter valid name
Enter Valid DOB
OTP sent Resend OTP
otp icon
OTP Expires in
I authorize Niva Bupa to call me. This will override your existing registry in DNCR. I want to get my quote and policy details on WhatsApp.
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