Individual accident insurance helps cover your debts and funeral expenses if you die as a result of an accident. In effect, it’s a specialized type of life insurance, which provides an additional level of protection.
Coverage is quite affordable, and you can find high coverage amounts for a relatively low monthly premium. You may need it to provide an extra level of security to your parents, siblings, friends, or other beneficiaries. It is often available as a rider to individual health insurance coverage.