Personal Accident Insurance;
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| personal accident insurance |
Insurance defines the
accident as "the
bodily injury that
derives from a violent, sudden, external cause and beyond the intention of the insured
that produces temporary or permanent disability or death".
The purpose of the accident
insurance is to cover the beneficiary of economic
eventualities that may cause an accident that occurred to the insured.
The insurance contract
guarantees the insured or his heirs the Payment of the agreed compensation in
the event of an involuntary accident, which causes death, total
or partial permanent disability, temporary disability,
as well as payment of the expenses incurred for health care, necessary for the
insured person to heal.
Accident insurance repairs the
consequences derived from the lack of the person or persons who bear the
economic burden of a family (death guarantee),
from a permanent disability that decreases or prevents income and increases
expenses (permanent disability guarantee), of the temporary disability that prevents the injured person from carrying out their work until
recovery (guarantee of temporary disability) and, finally, of the cost of
health care is required to cure the injured person (guarantee of health care).
The insurance benefits are
those agreed in each case, normally a capital in case of death or permanent
disability, or a daily economic benefit in case of temporary disability, while
this lasts.
They are therefore
subjectively determined quantities in the contract, regardless of
its sufficiency or not to repair the real economic damage caused.
In this sense, accident
insurance benefits do not have an Indemnification character,
except for health care that does have this character because the company will
satisfy what is necessary for the repair of the situation of damage to the
person, which has actually occurred.
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