Personal Accident Insurance vs. Health Insurance

Clients usually want cheaper products right? There’s not a lot of people out there saying give me the most expensive insurance you have and give me coverage. Price is really something they factor in when it comes to insurance. Personal accident is a lot cheaper than health insurance and a lot of people are now saying that Personal Accident Insurance is the better choice.

But first you must understand the difference between the two.

Health Insurance – Covers you for illnesses, accidents and anything that might put you in the hospital. Basically, health insurance will cover you for anything health related. Also most insurance companies include a Personal Accident Plan within the Health Insurance, this means that should something unfortunate happen to the insured by accident there is a lumpsum amount to be received by the beneficiary.

Personal Accident Insurance – Covers you for accidents, usually the main feature of the Personal accident is the Lump Sum amount given to the beneficiary should there be an unfortunate accident. 10% of this amount is usually the cover for medical expenses. It all depends on the cover you purchase. But the medical expenses will only cover you for accidents and not anything else, if you get dengue, malaria or any type of illness, this will not cover you.

The reason Personal Accident Insurance is a lot cheaper is because this will only cover you for accident and not anything else. Health insurance covers you for most things health related.