I must admit that I have been well aware of life insurance and short term insurance to cover myself, my townhouse and vehicle etc…
I have only recently become aware of the importance of Personal Accident Insurance and how this could be a add-on to other insurance cover. But why has this become more important for the South African road users?
On the Arrive Alive website we have answered many of these questions, and I would like to quote from the website:
“Most accidents can be attributed to human error and factors such as aggressive and negligent driver behaviour, non-adherence to traffic rules as well as poor road conditions. We share the roads with many unlicensed drivers and face many road risks we can do little to prevent.
Being a victim of an accident can be devastating enough without having to worry about the financial implications of such an accident. The medical costs alone can be crippling. You may lose a limb or partially lose your eye sight in an accident, with added medical bills and on-going treatment which can become very expensive. You may require physical therapy or need to alter your home to accommodate your injury.
By acquiring accident cover you are making such an incident easier to deal with by reducing the financial implications of such an event. It is important to consider accident cover as part of your overall insurance package.
Should you die as a result of an accident your beneficiaries will be paid out an additional sum as death cover. Should you be injured as a result of an accident you will be paid out a lump sum. Even if the injury is not completely devastating you will still receive a portion of your payout to cover costs. This refers to personal accident injuries leading to loss of hearing in an ear, losing a limb, partial loss of sight etc.”
Also view:
• Road Accidents and Personal Accident Insurance and Benefits
• We could expect a shift towards more Personal Accident Insurance
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