Personal accident insurance: a helping hand for you and your loved ones

Come rain or shine, accidents happen. And when they do, it can be at the drop of a hat. A few years ago, the Health Department surveyed unintentional injuries (referred to as “accidents”) and found that nearly 4.4% of the population of Hong Kong had experienced physical injuries in the prior 12 months. This amounts to 320,000 people who had undergone minor to severe accidents in one year based on the population at the time of the survey. Accidents catch people off guard. During these times, the right personal accident insurance can help protect the insured and their family from any unexpected financial burdens.

Accident insurance generally covers medical and hospital expenses related to accidental injury and permanent disability, helping the insured and their family weather the storm. Not only do accidents cause physical injuries, but they can also cause post-traumatic stress disorder. In light of this, personal accident insurance plans provide additional coverage, such as counselling services for trauma and grief, to help the insured and their family return to everyday life.

The risk of accidents occurring is universal, but the needs of children, adults and the elderly are not entirely the same. As a result, insurance companies have launched personal accident insurance plans that provide customisable, specific protection for the aforementioned different age groups.

Children are active and more prone to bumps and bruises. Some insurance policies may provide additional coverage for accidents during school activities, reimbursement for rehabilitation equipment costs and compensation for working parents’ leave of absence. This is to ensure parents can take care of insured children during periods of hospitalisation. Adults are usually the breadwinners of their households, and the entire family is at risk of suffering a financial predicament if an accident happens. Therefore, adults should look for a protection plan with high coverage and make notes of any compensation for disability or death. The elderly often has limited mobility and are prone to falls and fractures. Similarly, they can seek additional protection for fractures and prosthetics to better cater to their needs.
 

Holidays are when the urban crowd escapes to the wild, be it for hiking or fitness challenges. So when taking part in outdoor activities, we must plan and take out accident insurance to protect ourselves and our families. Insurance policies are constantly evolving to cover new requirements, such as protection for high-risk sports, including winter sports, horse-riding, water skiing, and scuba diving. Some accident insurance plans even offer additional protection on public holidays so the insured can enjoy a hassle-free holiday.

Life goes on, but so do accidents. Accident insurance is critical for protecting the insured and their family, both financially and logistically, during any crises. It is important to highlight that the insured should pay attention to the underwriting occupations, exclusions and disclaimers, and choose a plan based on their current age so they can enjoy the best protection with the right accident insurance.
 

If you’d like to find out more about personal accident plans, please feel free to contact us or find out more about our insurance plans:

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