PERSONAL ACCIDENT INSURANCE

WHAT TYPE OF PROTECTION IS PERSONAL ACCIDENT INSURANCE?

What would you do if you had an accident and were unable to work? This consideration is obviously more important for self-employed trades people than most other professions. If you can’t physically work, then you will be unable to earn money and given the nature of the work you undertake accidents can happen.

Personal Accident & Income Protection insurance are two types of insurance cover that protect for this, paying out compensation if you suffer from a serious injury or death as a result of an accident, or are unable to work due to sickness. The compensation can help protect against loss of income and help with other bills and expenses whilst you are unable to work.

PERSONAL ACCIDENT INSURANCE

• Lump sum payment of up to £50,000 in the event of an accident
• Your choice of three different levels of cover
• Monthly or annual payment options
• Premium starting from under £8 per month
• Instant cover with documents immediately

WHAT IS THE DIFFERENCE BETWEEN PERSONAL ACCIDENT INSURANCE AND INCOME PROTECTION?

There are two types of insurance, Personal Accident and Income Protection and you can purchase either in isolation or both together. Personal Accident pays out a lump sum in the event of certain defined accidents and injuries. Income Protection pays out a monthly benefit for a period of time if you are unable to work due to an accident or sickness. You need to be aged between 18 and 65 to purchase insurance and insurance ends when you attain the age of 67.

More specifically these insurances provide the following protection:

PERSONAL ACCIDENT INSURANCE

The Policy provides a lump sum payment at the chosen limit of indemnity (up to £50,000) in the event of an accident which causes bodily injury, including:

• Permanent total disablement
• Quadriplegia
• Paraplegia
• Permanent brain damage
• Loss of speech
• Loss of hearing
• Use of a shoulder, elbow, thumb, finger or toe
• Burns
• Fractures
• Loss of sight
• Loss of limbs
• Accidental death

As with any insurance Policy some things are not covered, including the following:

• A fracture that has occurred in the first 15 days of the Policy
• When you are riding a motorcycle, moped or scooter (as driver or passenger)
• Rock climbing or mountaineering
• Suicide or self-inflicted injuries
• Where you are under the influence of alcohol or drugs
• Illegal acts
• Flying, except as a fare paying passenger
• Competing in a race other than on foot or whilst swimming
• Where the accident occurs in a country that you have been advised not to travel to or avoid by the Foreign and Commonwealth Office.

We recommend that you read the Policy Document in full before deciding whether to purchase cover.