Following the terrorist attack in Mumbai, financial advisors are flooded with questions on accident insurance, such as whether personal accident insurance covers injuries sustained in terrorist attacks. Some say “public sector companies cover it, but private sector firms don’t”. The agents may take gullible public for a ride if one is not inquisitive while buying the insurance cover.
One should confirm from the respective insurance company that the coverage exists or not. It is also suggested that as a guideline, the quantum of personal insurance cover should be at least 3 to 4 times the annual income since most handicap benefits are a percentage of the total cover.
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