Personal accident insurance is different from life insurance

Understand the differences between personal accident insurance and life insurance. Know when you should do one or the other. Many insurance companies of personal accident insurance and life insurance product range. It is common for consumers, it’s time to hire a safe or another, stay with doubts about the conditions. When best to do personal accident insurance, and when it is best to rely on a life insurance policy? What is the difference? To resolve key issues, preparing a guide explains the differences between them.

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How personal accident insurance?

Generally, provides personal accident insurance as a basic coverage of compensation in case of death or permanent disability (wholly or partly) caused by the incident. This covers, in addition to another, depending on the insurance company, offering key features, which should be for personal accidents, external, i.e. when the insured may suffer damage. In short, that the claims covered by this type of insurance to be casual, but will not offset.

But what is the main difference between personal accident insurance and life insurance?

It features natural life insurance or breakdown cover accidental death, personal accident insurance, in the event of death by accident, people covered. The same thing applies to the other layer. In life insurance, depending on the type of insurance, the insured and the beneficiaries to obtain compensation for various reasons, personal accident insurance why insurance limited and covers only accidents.

Another difference between them is that General personal accident insurance, insurance does not offer significant price difference for young people or the elderly, is what happens in life insurance.

When it is more worthwhile to do personal accident insurance?

Recommended brokers use personal accident insurance for self-employed persons, entrepreneurs and professionals who rely in good physical condition for their professional performance. In addition to this profile, young people, single with no children can also consider the option of making this insurance out life insurance.

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