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Thursday, May 17, 2012
Universal Life Insurance
Many people think that they are very lucky and that since they are watchful they may never face an accident. But an accident is an accident that is why it is termed as accident. Accident means that something might happen something unexpectedly and the truth is that it happens usually when you are least expecting it. If you check out with the official data there are more then 5 million cases of hospitalization due to accidents. And with such kind of number no one can say that he might not face any accident in his life.
If you have to face with an accident that may result in some serious injury, then there are possibilities that you may not be able to return to your work for some time. In such situation you are at a big loss. First of all you have to shell out big amount of money for your treatment and secondly you also do not get paid for the number of days that you are absent from your work. This would have a big impact on your finance's. But if you check out with many insurance plans that are on offer, you will find that these insurance plans offer a lump sum amount by which you can take care of your finance's. Of course that depends on the amount of premium that you are paying for your insurance policy. Many insurers also provide standalone accidental insurance which covers accidental insurance, this kind of insurance cover also protects you in case of motor and travel insurance as well. The main benefit of standalone insurance is that it has limited restrictions compared to other insurance policies and also it provides you with good cash payments.
Almost all the standalone accidental insurance provides insurance for accidental death cover. In this type of policy usually the kin of the insurer gets a good amount of cash which can definitely help in taking care of some financial burden that can come suddenly because of any accident. Although there are plans that offer benefits only in the case of accidental deaths, the amount paid also vary according to different plans with the different levels to cover. The amount of the cash that is given also depends of different kind of scenario like if the person died due to road accident, or any other type of accident. But one thing is clear the cash amount received is high and it really helps your family from the sudden financial burdens that is impounded on them by taking care of the funeral expenses, and even to some extent help them potentially during the times of grief.
So to end with I can say that no one can deny the fact the no one is immune to accidents and the problems that you or your family might have to face after the accident. But if you can be smart and prepare yourself with a backup plan that could help your family in times of need, nothing can give the peace of mind. It entirely depends on one individual what kind of insurance plan he chooses, a comprehensive personal accident plan or a plain accident plan.
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