Unfortunately, accidents are a part of everyday life. We often don’t think about the accidental injuries, or even the accidental deaths, which may happen during the course of a day. Supplemental accident insurance allows a person to be better prepared for such unexpected events. Accident insurance can provide benefits in event of sickness or death.
Designed to supplement your employer-sponsored insurance coverage, accident medical insurance pays specific benefit amounts for injuries received in a covered accident. These benefits can help pay the out-of-pocket expenses related to an accidental injury that existing health insurance coverage may not may not cover, such as:
- Expensive medical procedures for broken bones and dislocations, or physical therapy.
- Crutches, wheelchairs or other medical aids you may need as a result of your accident.
- Co-payments, co-insurance and deductibles.
- Ambulance benefit
- Hospital confinement
Optional benefits/riders exist that can provide coverage for spouse and children
Accident medical insurance products can serve both as a reimbursement and an indemnity insurance policy. Expense reimbursements paid are for actual charges or up to the maximum amount stipulated per selection.
Accidental death benefits can help a family meet their continuing needs after a death occurs. The death benefit is increased if the accidental death occurs on a common carrier such as a commercial airplane or subway system.
Accident plans often feature a flexible plan design so that an employee can choose the coverage that best meets their needs. Coverage is available for both on and off-job accidents, and several optional riders are available to allow and employee to opt for increased protection at an additional cost. Accident benefits are usually guaranteed renewable for life, as long as premiums are paid when they are due. They are also portable so that the employee can take coverage with him once they change jobs or retire. Premiums generally remain level and do not change based on age or occupation.
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