New Delhi, July 31 -- Personal accident cover and standalone term insurance, both of which provide financial protection, may seem similar to many but are different in various aspects. The question about which is the best buy and most suitable financial protection in individual cases will be answered here. For those deciding which to choose, this is the right place to learn about similarities and differences.

Starting with similarities between accident cover and term insurance, it is important to note that

Even though, a cheap personal accident policy may seem like a smart buy than term insurance but the two are not interchangeable as they protect against different risks and serve different purpose.

It is recommended that one must buy t...