Personal Accident Cover
We have seen that income protection provides cover for long term illness, injury or disability. Clients often enquire to the availability of short term cover. Personal Accident Insurance is now being seriously considered by individuals who are seeking to ensure they are comprehensively insured. It is available to individuals, families or groups (groups could be members of a club or association, or employees of an organisation)
Cover is provided for persons who have an accident.
Insured Benefits include
- Death
- Permanent Total Disablement
- Temporary Total Disablement
- Loss of Limb/Eye
There is a further scale of cover for Loss of Fingers/Toes etc – full list of benefits is available on request
Cover is available either on a 24 hour basis, or From Usual Occupation only (this type of cover is lees expensive as compensation is only paid if an injured person cannot continue with their usual occupation but are capable of carrying out alternative tasks)
Sums Insured are selected using different formats – but generally it is purchased in Units from 1-10 i.e. if you buy one Unit of Cover you will be covered for a Death/Permanent Disablement limit of €10,000 – if you buy 10 units – you will be covered for €100,000 – the weekly benefits can be anything from €100 - €300 – alternatively you can specifically tailor the benefits to suit your own particular requirements
Personal Accident Benefits are paid for up to a maximum period of 104 weeks and there is generally a deferred period which can be anything from 2 to 6 weeks.
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