THE DIFFERENCE BETWEEN LIFE INSURANCE AND ONE OF ACCIDENTS

THE DIFFERENCE BETWEEN LIFE INSURANCE AND ONE OF ACCIDENTS

Life insurance and accident insurance have some similar coverage, but in essence are two different insurance which, on the other hand, are complementary. In fact, to have complete coverage, in many cases is recommended to have two insurance.

Then we will see what are the main differences between the coverage offered by life insurance and those offered by the accident insurance.

COVERAGE OF PARTIAL INVALIDITY

As well as absolute disability coverage is offered by both life insurance and accident insurance, only we will find partial disability coverage in accident insurance. In these cases, the accident insurance have a few scales which are calculated compensation according to the suffered contingency, which applies the percentage stated on the capital insured policy.

DEATH OR DISABILITY DUE TO ANY CAUSE

Only life insurance covers the death or disability due to any cause either disease, infarction, suicide - from the first year--or accident. Accident insurance only covers death or invalidity in the event of accident, whether labour, movement, etc. Some accident insurance cover also the death and disability by stroke or myocardial infarction.

HEALTH EXPENDITURE BY ACCIDENT

Single accident insurance covers costs health care of the insured by accident.

PRICE COMPARISON

As it only provides coverage in case of accident, accident insurance is much cheaper than life insurance.

DEATH OR DISABILITY DUE TO ACCIDENT

This is the coverage that have in common both insurance, although it is true that in life insurance you can hire double capital by accident and triple capital death by death in traffic accident. However, in some accident insurance, compensation in the event of a traffic accident is half that compensation by another type of accidents.

LIFE INSURANCE VS. ACCIDENT INSURANCE

The choice of one or other insurance depends on the needs of each one, perceived risk and what you want to pay monthly or annually for insurance. In any case, both are complementary, and can even be life insurance and combined accidents that offer us the advantages of both types of insurance coverages.