Personal accident insurance can financially protect yourself or your loved ones in the event that you suffer an accident or disability. The most common claim on policies of this kind generally arise from a broken bone or serious burn resulting from an accident.

The compensation paid out is designed to help you with any treatment costs as well as to cover other expenses or initial loss of income; however you have the ability to use the money for whatever purpose you want. As your disability income insurance (from either Bituach Leumi or private plans) would only take affect after 3 or 6 months, this policy offers financial support while you are not at work and not receiving any additional income at the outset. While this may appeal more to self employed individuals, this policy is available to everyone.

Personal accident insurance can cover children and adults alike. In addition, due to the fact that it is an accident focused policy, an individual is only required to answer a very short health and lifestyle declaration making underwriting relatively straight forward.

Most insurance companies offer different levels of coverage which, together with a person’s age, influence the monthly premium.The most basic package could be as little as NIS 1 per day however it will increase gradually over time according to you age bracket and level of cover purchased.

In the event of a claim as a result of an accident, the insured individual would receive a lump sum payout according to the terms and conditions of the policy purchased. 

Most insurance companies in Israel offer three levels of cover; a pay out of up to NIS 150,000; a pay out of up to NIS 250,000; and a pay out of up to NIS 350,000. Compensation payouts are determined on a case by case basis and there may be scenarios where the maximum payout is not deemed necessary, as determined by severity of the injury attained in the accident and the limb involved.