There are few takers for accident insurance, even though it comes relatively cheap. Given the spate of accidents, people are well advised to not ignore it.
What it covers: Any accident—slipping on the stairs, falling, breaking an ankle during a football match, receiving burns while bursting firecrackers on Diwali, or getting electrocuted by a faulty appliance. A comprehensive plan covers the poli- cyholder against all such perils.
Rider or standalone policy: Most riders with life insurance policies pro- vide only a basic accidental death and permanent disability protection. On the other hand, a standalone comprehensive policy covers various kinds of losses, including income loss, temporary disablement and hospitalisation.Also, the coverage offered by a rider is linked to the base sum assured and cannot exceed a certain level. Riders also cost more than standalone policies.