Personal accident cover is designed to provide financial help if you have a serious accident or injury, or if you suffer a fatal accident.

How does it work?

With personal accident cover, you pay a monthly premium which usually remains the same during the length of the policy. You will receive a cash sum if you have an accident or receive a serious injury during the term of the policy. The cover also helps to ensure your family are provided for if you have a fatal accident.

Personal accident insurance usually gives you coverage almost anywhere in the world (T&Cs apply) – medicals aren’t normally required before you take out the cover. It may be possible to add your children to your policy albeit at a reduced level of cover.

You must keep paying your premiums in order to remain covered. If you cancel your plan or stop paying your premiums, you won’t get back any payments you’ve made.

Some insurers allow you to pick different levels of cover. A higher level of cover will provide a larger cash payout in the event of accident or fatal injury.

This type of insurance is suitable if you’re employed or self-employed and want to protect your earnings, or maybe you work with machinery or at heights and want financial protection in the event of an accident.

There are some exclusions, examples include:-

• If your injuries are a result of sickness or disease
• If you deliberately or recklessly expose yourself to danger
• If your injuries are sustained while you’re under the influence of alcohol or certain drugs
• If your injuries are self-inflicted or if you attempt to commit suicide
• If your injuries are sustained while you’re committing or attempting to commit a crime
• Stress fractures, sprains and strains

Don’t ignore the small print. This will spell out what’s covered and what’s not covered.