Personal accident insurance provides the individual with a level of financial protection as a result of injuries, and in some cases, death as the result of an accident.
Cover may be arranged to provide income to replace income lost due to an inability to work, or it may provide lump sum cash benefits upon the happening of certain designated events such as loss of limb, an eye etc. or indeed a combination of both.
Where income replacement is selected insurers will only pay up to a certain percentage of weekly wage, thus providing financial assistance but with an incentive to return to employment.
Cover may be 24 hour or purely occupational, occupation cover as the name suggests protects against losses arising from an accident at work and is commonly used by the self employed, but may also be used by employers to assist in paying staff wages when such accidents occur.
Quotations for personal accident are available from a fairly restrictive panel of insurers in the United Kingdom.