• Personal Accident insurance is the insurance most associated with our daily lives because accidents may occur any time despite our best efforts at carefulness and caution.
  
  
• Accidents are different from sicknesses. Accidents are events that happen suddenly and unexpectedly from external factors that directly lead to bodily injury. As a result, accident coverage differs from health or life insurance coverage you may already have. Health insurance focuses on coverage for medical expenses incurred from either accident or sickness while life insurance offers death benefits regardless of the cause of death.
  
  

• 	Death		Disability and Dismemberment		Medical Expenses
  	Accident	Sickness	Accident	Sickness	Accident	Sickness
  Accident insurance	/	x	/	x	/	x
  Health insurance	x	x	x	x	/	/
  Life insurance	/	/	Supplemental coverage purchased additionally		Supplemental coverage purchased additionally

Three types of personal accident insurance as follows:

• Personal Accident Insurance (PA) provides protection against accidental death or injury for a specific individual only. Family members may or may not be included.
• Group Accident Insurance is an insurance policy designed for organizations to provide welfare benefits to employees. The insurance premium is calculated based on the number of employees in the organization. The protection will end upon the end of employee status.
• Group Accident Insurance for a student offers group protection similar to Group Accident Insurance and is specifically designed for academic institutions to provide protection to students.

Key components of personal accident insurance that you should be aware of are:

• Sum insured is the amount specified in the policy schedule that indicates the maximum limit of indemnity for each coverage. Applicants can decide on the amount of sum insured which should be in line with their income, normally up to 100 times of current salary or 10 times of annual income.
• Medical expenses Personal Accident insurance policies may or may not include medical expenses due to accidents, but not medical expenses due to sickness. The policy offers medical coverage for either IPD or OPD up to the amount actually incurred but not exceeding the sum insured with no limit in terms of number of incidents.
• Additional coverage Normally, personal accident insurance policies contain standard exclusions, details of which are specified in the insurance policy. Nevertheless, additional coverage is available for certain exclusions as follows: 
  •  Riding or traveling on a motorcycle
  •  Riots and strikes
  •  Wars
  •  Boarding or traveling in an aircraft which does not operate as a commercial aircraft
  •  Taking part or racing in extreme sports
  •  Terrorism
• Personal Accident insurance policies are standard policies and are the same across companies Insurance premium varies depending on chosen coverage plans. When purchasing personal accident insurance, factors that should be taken into consideration in addition to price are the financial position of the insurer and reputation in terms of service and reliability, in order to be completely worry-free and rest assured.