Accidental deaths and serious injuries happen to Australians every day and some
of these people do not have accident insurance. They are now struggling with
what is sometimes hundreds of thousands of dollars worth of medical debt from
emergency services, lengthy or multiple hospital stays, surgeries,
rehabilitation services or, worse yet, funeral expenses.
Unfortunately, our world is full of accident possibilities around every corner.
According to a statistical report commissioned by the Government of South
Australia, in 2008 there were almost 9000 people injured and 99 people killed as
a result of motor vehicle accidents in South Australia alone. Those numbers
can’t be ignored. What about other unforeseen accidents like falling off the
roof whilst fixing the tiles, falling down the stairs or being injured at work?
Human beings are mortal and therefore subject to injury and death and that can
change lives very quickly for the worse. Besides death, injuries that can occur
as a result of accidents are: quadriplegia, paraplegia, hemiplegia, blindness,
deafness or even a loss of limb or limbs.
Speaking about death and injury are not pleasant and can make some people quite
uncomfortable, however, if you don’t address the realities of life, you won’t be
prepared when the unpredictable does happen. Who will take care of your spouse
or your children if you are injured? What if your spouse or partner is injured
or passes on and you can’t pay the bills because you didn’t have
accident
insurance? These possibilities require very careful consideration.
A good accident insurance policy or accidental death insurance policy will
financially cover those accidents that you can’t predict and aren’t prepared
for. It will cover serious injuries from accidents such as quadriplegia or loss
of limbs. For as little as $3 a week, you can get coverage for yourself and your
spouse or partner if you are between the ages of 18 and 69 and an Australian
resident. Just think of the relief you will feel when you receive $50,000,
$100,000 or even $500,000 after an accident, depending on the coverage amount
you select.
There are several risks to be aware of when purchasing accident insurance and
serious injury cover which include:
1) Not choosing the right insurance product or not selecting the right level of
coverage, which might cause you or your loved ones to suffer further financially
even though you tried to do the right thing.
2) Not understanding the terms and conditions of a new policy when replacing an
existing policy and as a result not having the level of cover you need.
3) Canceling your policy 30 days after purchasing it and not getting a refund
unless you paid over 30 days in advance.
These risks can be reduced if you research insurance products thoroughly before
buying and properly assess your coverage needs in advance.
Accident insurance is a very small investment considering that you could face
large debts and financial ruin should you or your loved one have a serious
accident. What is your peace of mind and financial security worth to you and
your family?