An accident is an event which is usually beyond our control. The damage it causes is also something we cannot predict. A fatal accident, or an accident that causes permanent disability can have adverse effects on your family as well. The medical bills can soar to a great extent. They may end up disturbing or affecting your financial setup. Protection from such situations is always a recommended practice.
Personal accident insurance protects your finances by providing a lump sum compensation in the unfortunate event of a fatal accident or one that disables you permanently. The compensation shields you and your loved ones from a financial crunch. This insurance also covers accidental hospitalization cost.