No matter how well we plan our lives or how hard we work to secure ourselves, we can never really tell what the future holds for us. And while I believe that everything happens for a reason, I also believe that we can never predict nor prevent it from ever happening.

But we can absolutely PREPARE for it.

Good or bad, accidents are real – it comes as a result from the collective consequences of every action in the universe. That because of its complexity, we can neither foresee or conclusively say that it will actually happen.

Science and research however has a way of giving us figures of the probabilities of such accidents from happening. For example, based on recent data:

“In NCR, there were a total of 110,025 reported road crashes in 2017. A third of the incidents happened in Quezon City. 434 Filipinos have died and 19,374 were wounded. This means that 4 in every 100,000 Filipinos dies and 193 are injured from road accidents.” – MMDA

The key to lessening these incidents is of course rooted on the discipline of all driving individuals with the help of authorities and other road safety managers. But like I said, sometimes no amount of diligence can ever prevent accidents from happening.

So we just prepare for it. So that IF it happens, we are not drawn to a situation that leaves us powerless, more tragic and burdened with a tremendous financial loss and even debt.

This is probably the greatest reason why you should consider getting a Personal Accident Insurance. The idea of getting one already puts you into a state where you gain more peace of mind. A sense of inward security that lets you face the world outside without worries.

Majority of the insurance companies here in the Philippines are offering this kind of products, the key therefore is choosing which product fits your lifestyle and which brand are you most comfortable of.

For example, Malayan Insurance offers a variety of Personal Accident Insurance products:

Travel Master Insurance

Travel Master provides the insured with the most comprehensive protection against accidents, sickness and other travel related problems. With just one call to any of the emergency service centers worldwide, he will be provided with immediate assistance for emergency medical evaluation, and even language interpreter services. The insured will also be protected against delays or loss of baggage. This policy is ideal for the frequent traveler.

Coverage includes accidental death, dismemberment and/or disablement, medical reimbursement, hospital expenses (sickness), strikes and aircraft skyjacking, baggage delay benefit and loss of baggage. Plus, worldwide travel assistance through the AEA International SOS Assistance Philippines, Inc.

Rajah Personal Accident Insurance

The Rajah is an accident insurance plan that provides the insured with 24-hour, year-round protection worldwide. It guarantees full insurance benefits for accidental death and dismemberment, full schedule of benefits for permanent disablement or dismemberment, indemnity for accidental loss incurred during air travel, protection against loss of income and medical expenses, murder or unprovoked assault or both.

The insured also gets a renewal bonus: Upon annual renewal of the policy, the original sum is increased by 5% each year up to five consecutive years for the first P100,000, whether a claim is presented or not.

Family Plan

This plan extends accident insurance protection to the insured and the immediate members of his family. Considered as immediate members of your family are: If the insured is single, his parents (not over 60) and his unmarried sisters and brothers (ages 1 to 19); If the insured is married, his spouse (not over 60) and unmarried children (ages 1 to 19).

V.I.P. Personal Accident Facility

This policy protects the insured against loss resulting directly or indirectly of all other causes from bodily injury caused by accident. The coverage and benefits of the V.I.P. Personal Accident Policy are the same as those of Rajah, except that the medical reimbursement is automatic and coverage includes private flying.

Auto PA

This policy protects the insured and his unnamed car passengers against loss resulting directly or indirectly of all other causes from bodily injury caused by a car-accident. The coverage and benefits of the Auto PA are the same as those of Rajah.

Travel Insurance Policy (TIP)

This plan covers the insured during the term of the policy against loss resulting directly and indirectly of all other causes from bodily injury caused by accident. The territorial and travel coverage of the TIP are the same as that of the Individual Personal Accident Plans, except for the following: the term of coverage is for a short period, a fixed number of days, up to a maximum of 180 days. Commencement of the coverage is at any time of the day, as indicated in the application form.

While these products have different policy features, what a Personal Accident Insurance provides aside from peace of mind is the guarantee of full insurance benefits in case of accidental death or dismemberment, indemnity for accidental loss of life, loss of income and medical expenses.

Who should get a Personal Accident Insurance?

Practically everyone should get a plan. But the most vulnerable sectors are those who:

  • Frequently travels
  • Works in a high risk environment
  • Doesn’t have savings
  • Have many dependents
  • Self-employed or contract workers

When should you buy one? If you are currently in a position or situation described above – then you should have gotten it yesterday. 🙂

In summary, protect yourself always because you’ll never know. Plan for the future. Hope for the best. But prepare for the worst.

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