Accident vs. Health insurance: When each is useful and when they aren't

Health is wealth and you always try to keep yourself and your loved ones safe from illnesses and other medical problems. However, even after your best efforts, you sometimes find yourself in a hospital requiring urgent medical care. This happens due to road accidents, which, unfortunately, are very common in India. At such times, health insurance and accident insurance covers come in handy. But what is health insurance and what is accident insurance and what differentiates the two? Let’s find out in the article below.

Accident insurance vs health insurance: Understanding the concepts

Health insurance plans allow you to keep yourself and your family members protected against several medical complications. A comprehensive health insurance plan offers wholesome coverage. An accident insurance plan only covers injuries and complications stemming from accidents. There is no coverage for any general health issues under such a cover. You also get a sum assured if there is death or disability due to an accident.

Accident insurance vs medical insurance: Which one to choose?

Here is a list of the differences between an accident insurance cover and a health cover to help you understand which one is best suited for you:

1. Scope of coverage:

A comprehensive health insurance policy provides all-round medical care. From OPD expenses to in-patient care, from daycare procedures to ICU charges, everything is provided when you encounter a health problem. However, an accident insurance cover only pays for the costs incurred in treating injuries related to a road accident.

2. Type of plan

A comprehensive health plan is a standalone insurance policy. An accident insurance plan, on the other hand, is an add-on cover that is available along with health insurance and motor insurance plans.

3. Life coverage

A regular health insurance plan does not cover the life of the policyholder. Hence, there is no money assured if the policyholder dies during the policy period. An accident cover, on the other hand, offers a sum assured if the policyholder dies in an accident, or sustains a permanent or temporary disability. The payout happens for total as well as partial disability due to an accident.

4. Compulsion

Though health insurance is one of the biggest requirements of modern life, it is not legally compulsory for you to get a policy. A motor insurance plan, however, is a legal requirement. You need to have a motor plan if you own a vehicle. The personal accident cover is included in a motor insurance plan, so you get it by default if you have a vehicle insurance policy.

Health insurance vs accident insurance: Making the right choice

Now that you know what benefits are available under each type of coverage, make a proper choice, depending on your needs and requirements. This will help you to have the correct coverage and keep your health and wellness protected at all times. There are some excellent accident and health insurance plans available with Zurich Kotak General Insurance. Explore the options and find the perfect cover!

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