Personal accident insurance provides coverage in the event of accidental death or injury to the investor. This coverage typically includes benefits such as a lump sum payment or compensation to the investor or their beneficiaries in case of death or permanent and parcel disability resulting from an accident.

The purpose of personal accident insurance is to provide an extra layer of financial protection to investors and their families in the event of unforeseen accidents resulting in loss of life or disability. However, it’s essential for investors to carefully review the terms, conditions, and coverage limits of any personal accident insurance offered.The way personal accident insurance works can vary depending on the specific product or offering.