Personal Accident Insurance
The coverage provided by Personal Accident insurance is for an insured person, usually a pilot, crew member or passenger. Insurers will offer an agreed sum of money, regardless of the amount of the insured’s actual loss for bodily injury, disablement or death as a result of an accident, whilst engaging in air travel, which mean entering, or being on board, an aircraft for the purpose of flying or getting off the aircraft, following a flight or attempted flight.
Insurance coverage can also be included for medical and related expenses, which would include all reasonable expenses incurred within 12 months from the date of the accident for necessary medical, surgical, ambulance, hospital, professional nursing, repatriation and funeral expenses for each insured person who sustains bodily injury whilst there are engaging in air travel.
An accident shall include disappearance of the insured person, if they are involved in a hi-jack or any attempted hi-jack, in an aircraft which they are travelling in, or attempting to travel in and unavoidable exposure to the elements.
Insurers will require a capital sum insured for each insured person and will also want to include an overall total sum insured where 2 or more people are insured.
Insurers will provide you with a Schedule of Benefits, which includes the percentage of sum insured they would pay. This would include a 100% death benefit and also a benefit which entirely prevents the insured person from attending to any business or occupation for which they are reasonably suited by training, education or experience and which lasts 12 months and at the end of that period is beyond hope of improvement.
Your insurance policy will have a number of standard exclusions and conditions, it will also include an exclusion for the insured person’s own criminal act, when the insured person in under the influence of alcohol or drugs (except those drugs taken on advice of or as directed by, a duly qualified medical practitioner).
Other types of aviation insurance
If you are interested in Personal Accident Insurance and Reinsurance then you may also be looking for the following kinds of insurance.