Health Insurance VS Personal Accident Insurance
- Explore Personal Accident Insurance
- Explore Health Insurance
- Accident Insurance Vs Health Insurance
As per the 'Global Status Report on Road Safety' by the World Health Organization, the number of deaths due to road traffic accidents dropped worldwide annually by 5%. However, the numbers are rising in India. Similarly, another report on 'Road Accidents in India 2022' stated that the number of deaths in India due to road accidents rose to 1,53,792 in 2021.
These statistics are enough to leave you confused about the category of health insurance to be purchased. Questions like,
'Will my health plan cover accidental injuries?' 'Is my accident insurance enough for me?' are some of the most common ones.
Health insurance and personal accident insurance are two sides of the same coin. Personal accident insurance and health insurance both aid you financially during distress. While health insurance serves a broader agenda by providing comprehensive coverage, a personal accident plan covers you for a specific purpose.
The difference between health and personal accident insurance is subtle. If you are confused about which one to purchase in particular, you have come to the right place. This is a comprehensive guide on health insurance vs accident insurance plans.
Keep reading to find its key features and explore what makes them different.
P.S - Read till the end to find out the best health insurance and personal accident insurance plans in the market
Let us understand what health insurance and personal accident insurance are:
Health insurance plans are affordable solutions that help you cover medical care expenses. Investing in the best health insurance plan offers you coverage against the cost of hospitalization, surgeries, critical illnesses, diagnostics, doctor consultations, pharmacy, etc.
A health insurance plan is flexible and versatile when it comes to customization, you can customize the sum insured, additional riders, deductibles, co-payments, and more in your health insurance. It provides comprehensive coverage.
An accident can happen to anyone at any time. Many times accidents lead to serious physical disabilities and even deaths. With consistently increasing medical care expenses an accident can cause serious financial burdens.
Personal accident health insurance covers you for injuries, disabilities, and treatments required in case you meet with an accident. If you are someone who works in a high-risk environment (e.g. factories, mines, etc.) or drives a two-wheeler you must invest in personal accident health insurance.
Here is a look at the key differentiating factors between a health insurance and personal accident health insurance plan.
| Key Differentiators | Personal Accident Insurance | Health Insurance |
|---|---|---|
| Premium Price | The premiums are less than health insurance plans | Offers wider scope of coverage making premiums slightly expensive as compared to personal accident insurance |
| Availability | Available as an add-on and standalone health plan | Available as standalone insurance plan |
| Tax Benefits | Available under section 80D | Available under section 80D |
| Pre-existing Diseases Cover | Not Available | Covered after a waiting period |
| Maternity Expenses | Not Covered | Covered after a waiting period |
| Critical Illnesses | Not Covered | Covered after a waiting period or available as an add-on/rider |
| Accidental Death | Covered | May or may not be covered |
We have rounded up a list of the best health and personal accident insurance for your benefit:
| Health Insurance | Sum Insured | Personal Accident Insurance | Sum Insured |
|---|---|---|---|
| Star Comprehensive Health Plan | 5 L - 1 Cr | Star Accident Care Individual Policy | Minimum: INR 1 L |
| Care Supreme | 7 L - 1 Cr | CareSecure - Personal Accident Insurance | 10 L - 50 L |
| Niva Bupa Aspire | 3 L - 1 Cr | Niva Bupa Personal Accident Insurance | 5 L - 2 Cr |
| ManipalCigna ProHealth Prime | 3 L - 1 Cr | ManipalCigna Accident Shield | 5 L - 25 Cr |
| Aditya Birla Activ One Nxt | 5 L - 2 Cr | Aditya Birla Activ Secure Personal Accident Insurance | 1 L - 20 Cr |
A medical emergency can strike anyone at any time. Unfortunately, some of them leave a lasting impact than others. While we all hope for a quick recovery, hospitalization of any kind is a financial and emotional burden on the patients and their family members.
There are no right or wrong answers when it comes to selecting between accident insurance vs. health insurance. You must evaluate your needs, working conditions, medical history and lifestyle habits when selecting an ideal health insurance. A health insurance plan offers comprehensive coverage whereas a personal accident health plan is purpose-centric.
For further information on accidental and personal health insurance, connect with insurance experts at PolicyX.
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April 8, 2024
PolicyX made me buy the Niva Bupa Reassure 2.0 health policy. And the customer care executives are so soft-spoken and compassionate about their customer needs.
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PolicyX suggested buying Niva Bupa Senior First health insurance for my old age parents. I& 039;m happy to gift them good health, thank you PolicyX.
April 8, 2024
The team of PolicyX is always open to clear any doubts. I highly recommend buying Niva Bupa health policy from them.
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I bought Niva Bupa health insurance for my parents, thanks to PolicyX that now I can be prepared for their health needs.
April 8, 2024
I got hospitalized due to an accident and my base policy was not sufficient for treatment. So, PolicyX made me buy the Niva Bupa Health Recharge add-on plan. Now, I’ll be prepared for any...
April 8, 2024
All my queries related to claim settlement ratio for Niva Bupa and claim process were resolved by PolicyX insurance agents
April 8, 2024
PolicyX helped me with all my queries regarding the Aditya Birla Active Essential Plan and helped me with the buying process. I am so grateful.
April 8, 2024
With the help of PolicyX, I got my health insurance policy from Aditya Birla Health Insurance. They answered all my queries without any hesitation and helped with every process.
Simran is an insurance expert with more than 3 years of experience in the industry. She may have all the answers to your insurance queries. With a background in Banking, she proactively helps her readers to stay on par with all the latest Insurance industry developments.
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