Personal Accident insurance is a policy which provides a lump sum in the event of death, injury or disability resultant from an accident.
This is often used by younger people as a cheaper alternative to life assurance, although it must be stressed that a personal accident policy does not cover death or disablement from natural causes.
The level of cover will vary from provider to provider, but generally speaking the following coverage is normally available:
- Accidental death
- Permanent disablement
- Temporary, total or partial disablement
- Hospitalisation benefit
- Medical expenses