Who Would Benefit from a Sickness and Accident Insurance?


Many of us try to avoid thinking about worst-case scenarios at all costs. Not that it isn’t in the back of our mind, it’s just easier to think that nothing that could impede us from working will happen to us. And though most of us would never forget about insuring our car, our home, or our business, we often neglect what is our biggest asset when it comes to getting a steady income – ourselves, our overall well-being.

Sure, many of us try to take care of our own health, but no matter how much we want to ignore it, bad things, unfortunately, whether it’s an unpredictable illness or an accident, things that render you unable to work for a prolonged period may happen. And, without a steady income, most of us couldn’t take care of our bills and living expenses. In a way, just like eating healthy, exercising, getting regular check-ups, or taking care of our mental health – obtaining accident and sickness cover is a preventive measure.

What Is Personal Accident and Illness Insurance?


This policy is there to protect you and your family in case you can’t work because of an accident or illness, by ensuring you can cover your expenses in case of accident or illness. In other words, a well-thought-out personal accident and sickness cover insurance is designed to provide you with an income in case something happens that will prevent you to work, but also to provide you with a peace of mind in a worst-case scenario – so you can focus on getting better and getting back to your normal life sooner ­– instead of worry about paying the bills.

Who Needs a Personal Sickness and Accident Cover?

It’s quite simple: if you are employed, you would benefit from a personal sickness and accident insurance. This is true for anyone, except if you are certain that your wellbeing, or not being able to work for a prolonged period of time due to injury or illness wouldn’t affect your income, your savings, or your family directly.

Man suffering back ache moving boxes

Similarly to how some professions are offered special kinds of insurances dedicated to their field or the risks it can bring (such medical indemnity insurance for health professionals for instance), though anyone who works for a living can benefit from it –, for many people, like those working for themselves, this kind of insurance can be instrumental to their livelihood. Obtaining an accident and sickness insurance for self-employed people, small business owners, sole-traders, part-time or contract workers, for people who don’t qualify for income protection insurance or workers compensation, and for many more – can be the best option (if not the only option) to protect their income.

What Should You Consider When Choosing a Policy?

There are many things to take into consideration when you are choosing the best insurance for yourself, which is something that an insurance broker can make much easier for you. Things like whether it covers medical expenses in case you need them, the benefit period, the waiting period etc.

Persona-Accident sickness insurance

Furthermore, many policies will allow you to choose what you want to cover, whether both sickness and accidents or just one of them. Some policies offer a so-called capital benefit or a lump sum payment in case of death by accident. Some can cover serious injuries, such as ones that leave a person permanently disabled.

What Does a Personal Accident and Sickness Insurance Cover?

There are many types of insurances in the event of an employee’s injury or sickness, and what they cover varies from policy to policy. Choosing wrong can have significant consequences, and this is why it’s important to carefully choose the insurance, and why it’s recommendable to get professional advice.

accident at work sickness insurance

Generally, personal accident and sickness cover insurance offer a portion of the income of the insured person, up to 80%. Depending on the scope of cover you select, if you were to get injured or get sick so much so that it prevents you from returning to work, you would get a weekly benefit.

What Doesn’t a Personal Accident and Sickness Insurance Cover?

work accidents sickness insurance

Though it depends on the insurer or the policy, generally most personal accident and sickness insurance don’t extend coverage to sickness or injury that have occurred as a result of a condition or conditions that existed prior to obtaining the insurance, being under the influence of drugs or alcohol, criminal or act that the insured person deliberately caused, pregnancy and childbirth…