What makes Personal Accident coverage so cost-effective? (Part 2)

With accident insurance fast becoming one of the smartest ways to protect your family’s financial future, last week we began exploring the main factors that make it so.

We saw, for instance, that it’s so easy to get compared to life insurance. Very important if you have better things to do than spend days going through medical examinations and answering dozens of intrusive health questions. Or if you have a health condition that stops you from getting coverage. Or if you want to enjoy immediate protection.

More importantly, we saw how little it costs.

In fact, accident coverage is so affordable that you almost can’t afford not to have it.

That’s mainly because there are no complex features to drive contributions up. This is pure, simple, straightforward accident protection – without all the expensive bells and whistles of life insurance.

Of course, there’s no telling if and when you meet an accident. Yet it’s almost certain that if you do, the financial consequences can be devastating. By spreading the risk among participants, personal accident (PA) coverage allows you to enjoy higher benefits right when you’re likely to need them most – and at the lowest possible cost.

Best of all, PA coverage provides a host of “living benefits” that life insurance won’t.

Not all accidents end in death. But most will involve medical and other expenses which can quickly eat up your life savings if you don’t have the right protection.

However, most types of life insurance will pay out on death only – they won’t cover areas such as disability, medical expenses, hospitalisation, surgery, nursing care, and more. Likewise, your motor insurance will cover your car for damages, but it won’t pay a cent for your injuries.

These types of “living benefits” are really important because they allow you to focus on recovery without sacrificing your family’s needs or running up large debts.

That’s why all EZTakaful plans also include a wide range of living benefits. That’s money paid directly to you, if you survive an accident, to pay for all those things not covered by other types of insurance or for anything else you may need.

Whether you’re just starting out or looking to fill the gaps in your existing insurance, the right PA coverage will give you the comprehensive protection you want and the value-for-money you deserve.

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