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What is a accident and sickness insurance plan?
These plans are general insurance products offered on an annual basis.
This means an insurer has the right to refuse to renew or can increase premiums in the event of a change of circumstances or adverse claims experience.
A personal accident and sickness insurance policy will offer a lump sum benefit as the result of an accident in the event of:
death;
loss of limbs;
irrevocable loss of sight in one or both eyes;
permanent total
disablement.
Weekly benefits are usually offered in the event of:
temporary total and or partial disablement;
temporary total disablement caused by illness.
The sickness benefit is paid after a very short deferred period, say seven days, and usually continues for a maximum of 52 weeks.
Benefits from an personal accident insurance
policy.
Generally the benefits from an personal accident and sickness insurance policy are
not taxable, therefore lump sum benefits are paid tax free.
For Personal Accident & Sickness Insurance we usually offer products
from a selected panel of providers.
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