Accident insuranceLife has its unexpected moments and things happen to people. This is where accident insurance comes in. With accident insurance, we pay compensation in the case of minor injuries (trauma benefit and a daily allowance) as well as permanent damage to health, so you can concentrate on your recovery without worrying about costs.
How to select the sum insured?Think of possible expenses that may arise in relation to an accident – rehabilitation, assistive equipment, prescription medicines, a new home or reconstruction of your home. To these unexpected costs, add fixed monthly costs that you will need to pay – bank loan repayments, credit card interest, daily expenses on food, utility costs, children’s extracurricular activities, etc.
We recommend that you choose your 6-year net salary as the sum insured for the permanent disability benefit. The sum insured for accident insurance for a person earning the average salary in Estonia (in the first quarter of 2022, the average gross monthly income was €1,593) could be at least €100,000 (permanent disability benefit), which would result in a premium of about €8 per month for a 35-year-old person.
When insuring children, we recommend that you choose the highest possible sum insured of permanent disability benefit so that the best support can be provided in the event of permanent disability.
Good to know
- The insurance cover is valid 24 hours a day – whether you’re playing health sports, at work or going about your daily activities. It is also possible to extend insurance cover to competitive sports and hazardous work.
- Reimbursement of medical treatment expenses compensates for medical treatment expenses incurred as a result of an accident that are not covered by the Health Insurance Fund, for example, if a fragment of your tooth falls out as a result of trauma, you need rehabilitation or assistive devices (e.g. crutches, joint supports, etc.).
- The daily allowance indemnity will compensate for that part of your lost daily income that is not paid by the Health Insurance Fund or your employer. This makes it possible to maintain the income you are accustomed to.
- The permanent disability benefit helps when major expenditures are required as a result of permanent health damage caused by an accident. Such as for rebuilding your home.
Accident insurance frequently asked questions
What is an accident?
An accident is a health injury or trauma, caused by an external factor. Traumas can occur while at home, engaging in sports, at work and in traffic. The most common traumas are fractures, concussions, stretches, tears, punctures, bites, burns, etc.
What is the difference between life insurance and accident insurance?
An accident means that a person develops health damage as a result of trauma. In accident insurance, you can choose different benefits to help with both moderate and permanent health damage and you can also choose compensation in case a person dies as a result of trauma.
Life insurance covers a person's death and this may be caused by a disease or trauma.
Why is accident insurance necessary?
Who needs accident insurance?
What to consider when concluding a contract?
- Compensation for permanent disability ensures that money problems are alleviated for a longer period of time. The amount of compensation depends on the severity of the health damage caused by an accident and the sum insured chosen in the contract.
- Compensation for medical expenses compensates for reasonable and justified medical expenses incurred as a result of an accident which are not compensated by the Estonian Health Insurance Fund.
- Daily allowance compensates for the loss of income for each day of treatment during sick leave, regardless of whether the treatment is in a hospital or at home.
- Damages for trauma offer one-off compensation for temporary health damage.
- Death benefit is intended to prevent and alleviate the economic concerns of the loved ones of the insured person in the event of his or her death.