In addition to social security, the first insurance that many people buy is accident insurance. Accident insurance is very popular with consumers for a very simple reason: this type of insurance is cheap, a couple of hundred dollars to get dozens of dollars or even millions of dollars of coverage. But please be aware that even though accident insurance is so cost-effective, there may be many "pitfalls" hidden in it, and you should be aware of the health requirements and restrictions on the areas insured before purchasing. This article will reveal some of the "pitfalls" of accident insurance that you will not be aware of, and help you reduce the risk of being denied a claim when you purchase accident insurance in the future.
First of all, there are several aspects of buying accident insurance that you should pay special attention to. Although the price of accident insurance is indeed very exciting, there are still many things to pay attention to when selecting a truly cost-effective product. If you don't know about accident insurance yet, this paragraph will give you some basic elements of accident insurance. You will want to check how many and what the requirements are, such as health requirements and annual income requirements, when you enrol. For example, some accident insurance policies require you to have an accumulated death benefit of no more than $1 million.
Fast products usually take effect within 1 day after enrollment, normal products take effect 3 to 5 days after enrollment, and some policies take longer to take effect. For example, some insurance policies do not even cover accidents involving aerial sports or bicycling, so please take into consideration the requirements before buying such a policy. In addition to the exclusion clause, you should also look at whether there is a limit on the medication used, for example, some accident insurance has a limit of $500 for a single rabies vaccination. Some accident insurance policies explicitly exclude certain areas, for example, some accident insurance policies will not cover certain areas in California and Nevada.
Lastly and most importantly, you need to read and understand some of the claims matters carefully before you purchase your accident insurance. First of all, you need to see if it is convenient to apply for arbitration. For example, some insurance policies imply a condition that arbitration needs to be conducted in a designated area, and such area restrictions can lead to inconvenience when you are in the arbitration session, so much so that your arbitration process is not smooth enough. In addition, you should also pay attention to the strict conditions of compensation for sudden death provided by accident insurance. For example, some accident insurance products require that the person dies within 6 hours of the onset of the disease after resuscitation to be considered a sudden death, otherwise if the conditions are not met, it is not considered a sudden death and no claim can be made to the beneficiary.
