Engaging regularly in sports activities is a great way to stay fit and lead a stress-free lifestyle. While playing sports brings thrill and excitement, it also increases your exposure to a variety of injuries and accidents.
At this point, every enthusiast should have personal accident insurance for sports. It offers dedicated coverage for medical expenses and hospitalisation resulting from physical activity.
In this blog, we will discuss sports liability insurance, its benefits, and how to buy a policy that fits your budget and requirements.
What is Personal Accident Insurance ?
Personal accident insurance is a special category of insurance that covers unexpected injuries and losses resulting from for sport activities that involve strict supervision. While standard
health insurance plans cover personal injuries to some extent, the coverage is often limited. This is the main difference between regular
health insurance vs personal accident insurance.
This is where personal accident insurance comes in, bridging the gap and providing dedicated coverage that your primary health insurance may not cover.
The inclusions and exclusions of a personal accident insurance policy vary from one insurance provider to another. Let’s examine
What Does Personal Accident Insurance Cover?
Accidental Death
Up to 100% of the base sum insured in case of accidental death of the insured individual.
Permanent Total Disablement
Up to 2x base sum insured in case of loss of both eyes/both limbs or one eye and one limb.
Permanent Partial Disability
A fixed percentage of the base sum insured (based on disability scale) is reimbursed in case of partial disability.
Carriage of Mortal Remains
A single-time payment of 1% of the base sum insured or ₹1,00,000, whichever is lower, is made for the transportation of the policyholder's mortal remains.
Medical Expenses Extension
You can extend your personal accident insurance to cover other medical expenses by paying an extra premium.
What Does Personal Accident Insurance Not Cover?
- Compensation for multiple clauses for the same period of disability.
Death/disablement arising due to suicide, attempt to suicide, or self-inflicted injury.
Pregnancy and childbirth.
Injuries from war or related events.
HIV/AIDs
Natural death
Injuries as a result of drugs or alcohol.
Benefits of Personal Accident Insurance for Sports
Whether it is a fractured bone, dislocated joint or torn ligaments or tendons, personal accident insurance helps you reduce the financial burden that may arise due to such mishaps during your sports adventure.
Here are some other reasons to purchase personal accident or sports liability insurance:
Extensive Medical Coverage
Personal accident insurance or sports liability insurance plans offer comprehensive coverage for medical expenses incurred from an unforeseen accident.This essentially means that if you get severely injured during your sports session, your insurance plan will cover most of the treatment costs.This includes hospitalisation, surgeries, pre and post-hospitalisation, doctor consultation fees and more.
Covers Accidental Death
In case of unfortunate death due to any physical activity or sports, personal accident insurance offers death benefits to your nominees. This is another important reason to invest in good sports injury insurance.Our personal accident insurance plans offer 100% of the sum insured in the event of the insured individual's unfortunate death. This financial assistance helps your dependents manage their living expenses in your absence.
Cover Permanent Total Disability
Not just accidental death, personal accident insurance for sports also covers your permanent disablement.Our plans offer a 100% sum insured amount if you lose both limbs/both eyes or one limb and one eye. In case of partial disability, our plans offer up to 50% of your sum insured value.
Child Education Fund
The best personal accident insurance for sports offers a certain amount for child education in case of accidental death of the insured individual.This fund ensures that your child’s education is not hampered by financial challenges in your absence. The child education fund covers expenses such as tuition fees, educational supplies and similar costs.
Offer Peace of Mind
Above all, personal accident insurance for sports enthusiasts offers greater peace of mind and a sense of relief. Knowing that you and your dependents are financially secure against potential accidents that may arise in the near future helps you enjoy your activities to the fullest and lead a happy and worry-free life.
Reliance Personal Accident Insurance for Your Sports Adventure
Personal Accident Insurance is a must-have for travellers who engage in sports activities with strict supervision during their trips. It acts like a financial management tool that helps you pay for the hefty medical expenses resulting from your accidental injuries.Our plans offer comprehensive coverage for accidental injuries, disablement and even death to make sure you never have to struggle financially because of your unfortunate accident.Further, by purchasing
insurance for personal accidents, you can enjoy worldwide coverage that ensures your financial protection regardless of your location.In addition to the broad coverage, we also offer plenty of other benefits such as affordable premiums, 100% claims settlement, paperless policy purchase and a strong network of 10,000+ hospitals where you can avail hassle-free cashless hospitalisation.Get your quote today!
Frequently Asked Questions
I already have a health insurance plan. Should I still purchase personal accident insurance?
Health insurance and accident insurance are two distinct insurance categories. While health insurance policies cover medical expenses, they don’t offer dedicated coverage for accidental injuries.
On the other hand, personal accident insurance offers specialised coverage for injuries and complications arising from unexpected events.
How many family members can be covered under personal accident insurance?
The number of family members that can be covered under a personal accident plan varies from one provider to another.
At Reliance General Insurance, we offer family plans with our Personal Accident Insurance. Your policy can cover you, your spouse and up to two children.
How can I decide the value of the sum insured in personal accident insurance?
Numerous factors are considered when deciding the value of the sum insured for personal accident insurance. These include your age, income, fitness level, risk exposure and more. Based on these values, you can decide on a suitable amount.
Is there sports team insurance available?
Yes. There are sports team insurance plans available to cover players against potential injuries from sports. In addition, sports teams can be covered under a group insurance plan.