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Difference between Personal Accident Insurance and Life Insurance

Each type of insurance is usually subdivided into several products. For example in personal accident insurance and life insurance.

Delfa
Updated
Difference between Personal Accident Insurance and Life Insurance

Having self-protection is indeed very important in this era. Especially with the various risks that are often unpredictable and bring you unexpected losses. But choosing self-protection insurance is not an easy matter.

Especially for those of you who are still new to the world of insurance. Moreover, each type of insurance is usually subdivided into several products. For example in personal accident insurance and life insurance.

Difference between Accident Insurance and Life Insurance

Before you choose one, of course, you want to know the difference between the two types of insurance. Both in terms of advantages and disadvantages of this type of insurance. You don’t need to be confused, because the following will explain the difference between personal accident insurance and life insurance.

Personal Accident Insurance

To be able to know the difference then you can find out the definition of each type of insurance. Starting with the definition of personal accident insurance, namely protection or compensation that will be given under certain conditions.

Call it such as the occurrence of accidents, injured, disabled to death. A collection of risks that are often detrimental but cannot be denied if they have occurred. Providing special protection to yourself can be one solution.

Because this insurance will compensate or replace the costs you must bear when you experience the losses that have been mentioned earlier. Although it is undeniable that this type of insurance is indeed less popular than other types of insurance.

But for those of you who want to get maximum protection, maybe there’s nothing wrong with choosing this insurance. Moreover, the amount of premiums that must be paid alone is still very affordable when compared to the protection that will be provided.

Life insurance

If you already know the definition of personal accident insurance then the next thing to know is the definition of life insurance. Simply put, life insurance benefits will be given to the insured’s family if the insured dies. Usually, this compensation is in the form of cash to the insured party or family.

Within a certain time limit that has been agreed in advance. When considering the benefits offered, it is not surprising that many people choose to use this type of insurance. Especially by those who have many family dependents.

This is what then makes this type of insurance widely known by many people and is also widely used. The reason is that the system is relatively easy and the feedback looks simple. So for those of you who are still new, you certainly won’t be confused when using this type of insurance.

How do you understand the difference between personal accident insurance and life insurance? This explanation will also make it easier for you to choose which type of insurance is most suitable.

Conclusion

The difference between life insurance and personal accident insurance lies in the type of death or loss that is a condition for providing compensation. Life insurance generally only includes protection against death, while personal accident insurance not only provides compensation for death due to an accident but also provides benefits when a person is disabled due to an accident.

The coverage covered by accident insurance ranges from comprehensive coverage covering permanent and temporary disability to covering only total disability or accidental death.

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