Personal accident plans are plans that help you and your loved ones cope with accidents that result in either death or disabilities. They are commonly bought due the fact that they are immensely useful for outpatient treatment. In addition, this plan is useful for those who frequently embark on physical sports. However, sometimes you just want to have coverage for certain activities that have unique features. Since fundMyLife is all about sharing fun information, we thought to highlight interesting plans that we found. In this article, fundMyLife looks at some specialized personal accident plans that you might not have even heard of.
For those who want to channel their inner Peter Lim and spend some time in the yacht, you might want to consider getting a yacht insurance for yourself and your guest. Depending on the plan, it also covers injuries that can arise from equipment in the yacht, like jetskis. Similar to normal personal accident plans, you can extend coverage to your family members, guests of the yacht, and for some cases the crew manning the yacht as well.
Golf is an activity that is relatively low-risk. Other than golfer’s elbow, there is little physical harm that can happen. Even then, normal personal accident plans can cover some of the accidents that may occur on the green.
However, golfers are recommended to purchase golfer’s insurance. Why do golfers need to get this then? Turns out, golfer’s insurance covers not just yourself, but anyone who might be unlucky enough to be hit by your accidental swings.
Fun fact: the insurance even covers hole-in-one.
But wait a minute, why would there be insurance that covers something good that happened? Turns out that when someone scores a hole-in-one, he/she has to buy the entire clubhouse drinks (depending on the clubhouse rules). While it’s a joyous occasion, it is also an expensive affair. As such, the hole-in-one feature of the insurance helps to alleviate the cost of the celebration. Normal personal accident plans don’t have that.
Personal mobility device
For those who are not into yachts nor golf, how about a spiffy personal mobility device to get you around? Personal mobility devices are increasingly popular, but it can be hard to use them. If you’re on the sidewalks, you’d run the risk of running into pedestrians. It’s worst than cyclists on sidewalks since you’re faster and more dangerous. However, if you’re considerate and decide to be on roads instead, you run the risk of being run down by cars.
Similar to golfer’s insurance, this plan covers both the rider and liabilities to members of the public. It’s useful in case you run someone down with your personal mobility device, or damage someone’s property.
Kidnap and ransom
Speaking of personal mobility device, Grab made headlines again with their GrabCycle announcement. Anthony Tan of Grab, who makes multi-million dollar deals, is definitely worth millions now. It isn’t easy being such a public figure. Having a high networth exposes you to dangerous situations like…kidnap and ransom. Don’t worry, we’re not going to kidnap anyone.
However, those who travel or work in high risk countries like Mexico, Venezuela, Haiti, Nigeria, etc. faces a real possibility of kidnapping. You know scenes in movies where victims of kidnapping lose their limbs or whatever in the process of getting ransom money? Kidnap and ransom plans cover those. On top of that, kidnap and ransom plans reimburse paid ransom money and cover things like medical care, disruption of operations, cost of replacing the kidnap victim and retraining, and several other costs incurred due to kidnapping incident.
As expected, this plan covers very important individuals and work with high impact. The company underwriting the kidnap and ransom plans will even hire crisis consultants just to negotiate the ransom money down. We couldn’t help but talk about kidnap and ransom insurance since it belongs to one of those really specialized insurance plans.
That’s all for now, folks. We hope you enjoyed this list of specialized personal accident plans as much as we did. If you ever find yourself doing for more unique activities, be sure to check these plans out.
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