What do you choose: Safety or Regret?

You might choose to ignore accident insurance, but the costs can be both financial and emotional. The choice is yours.

If only we could accurately predict the highs and lows of our lives! While man wishes to have the ability to have wings and fly, the ability to foretell the occurrence of a disaster must rate higher than this wish. After all, forewarned is forearmed – if we are aware of when a tragedy can befall us, we can take steps to prevent it from happening.

Realistically speaking, it is impossible to predict the sharp turns and glorious successes of our lives. It is true what they say about nothing being constant except change, since life is full of unpredictability. But while we may be unable to do anything about a disaster that befalls us or our loved ones, we can take proactive steps to deal with it when it occurs.

Take, for instance, a personal accident policy. As the owner of a vehicle, you are prone to several small and major accidents every time you take the wheel. A speeding car may ram into yours, a jaywalker might suddenly loom ahead, or a child might chase after a cricket ball right onto the street. Or it may happen that you might lose control of the wheel for a split second and become involved in an accident.

Many people who drive believe that they do not need to take a personal accident policy. They believe that they do not need to take accidental insurance if they drive carefully and take good care of their car. However, taking car insurance is mandatory in India, so most people take just a basic plan.

Choosing a plan with a low sum assured and not enough benefits is akin to choosing uncertainty over safety. A good personal accident policy covers not just your car from costs of expensive repairs, but also provides the costs of hospitalisation and treatment if you are injured. More importantly, it provides coverage for partial or complete disability arising out of an accident, and also looks after your family’s needs in case of your unfortunate demise. In case your income stops temporarily or permanently after an accident, your family is taken care of by the accident insurance plan. Even in case you are hospitalised and need sustained treatment thereafter, the accident insurance can pay for the same, leaving your savings intact.

When you select an accidental insurance plan, make sure to pick one that emphasises on helping your loved ones in case you are absent from their lives. One cannot predict when an accident will take place, but one can certainly implement every safeguard possible to cushion loved ones from the financial repercussions of the event.