Personal Accident Insurance and Health Insurance: What’s the difference?

on June 23, 2020

If you’ve got a health insurance plan in place, you probably haven’t considered the benefits of additional personal accident cover. Discover the difference between the two products and how they can benefit you.

man in recovery with crutches

While nobody likes the idea of getting into an accident, it’s better to be prepared for unfortunate realities. There are various ways that you could become injured or disabled. Accidents can range from car accidents to simply misjudging your step and taking a bad fall. Insurance is a great way to help minimise the worries associated with life’s unpredictable curve balls.

While your health insurance might have your hospital or healthcare needs covered – who will take care of the other financial burdens? These could include loss of work or inability to create income, legal assistance and recovery care. The severity increases should you become permanently disabled or pass away.

So, what will your health insurance cover you for and how can personal accident insurance help fill in the gaps?

Health insurance cover

Depending on your specific plan, health insurance will offer wider medical coverage for your in-hospital and general health care costs. Doctor’s visits, chronic medicines or surgeries are just some of the common health care services covered by a health insurance plan. If you are involved in an accident and need medical attention, this is where this product comes into play. Your health insurance provider will cover hospital fees, medical procedures and medicines.

The benefits of Personal Accident cover

Personal accident cover is a more specific insurance designed to cover additional expenses incurred as a result of an accident. Your health insurance plan won’t offer benefits beyond healthcare such as disability and death coverage. Personal accident cover can however help prevent you or your family from carrying some of the major additional financial burdens incurred. These include:

  • Loss of income due to death or disability.
  • Legal assistance needed with Wills and Estates in the event of death.
  • The repatriation of mortals remains. This means that if you were to pass away in an accident far from home, we’ll make sure that you are transported back to your place of residence. Your family won’t have to cover these costs ahead of the necessary funeral arrangements.
  • Personal accident cover from Bidvest Insurance gives you peace of mind that should you find yourself in an unfortunate accident, these extra financial needs will be covered. With this policy, you will receive a cash payout to use as you wish to get through your difficult time. If you were to pass away due to an accident, your family would receive financial support to help them get back on their feet.

Other benefits include:

  • Additional pay out for a commuter related accidental death (such as a taxi or car accident).
  • Extra cover for accidental hospitalisation.
  • Emergency medical assistance.

While it’s better to have health insurance in place, Personal accident cover from Bidvest Insurance does provide the dual benefit of offering certain health care cover on top of death and disability cover.

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