Accident Insurance - Why Do I Need It

What is Accident Insurance and Why Do I Need It

What is accident insurance?

  Accident insurance is a type of supplemental insurance that pays out when you're injured in an accident on or off the job.  An accident can happen anywhere (not just your car). Weather it is to help cover medical cost, bills, or supplement wages for missed work, an accident plan is a lump sum paid directly to you.  It also complements both your current health insurance and your disability insurance  by allowing you to claim benefits even if your injuries don't keep you out of work. It can supplement health insurance if your injury requires medical care that your health plan either doesn't cover or has a co-pay or deductible that must be paid for the medical service where the accident plan will help to cover those expenses.

What’s covered by accident insurance?

  What your accident policy covers will depend on your coverage and insurance company. Insurers usually divide injuries into different categories to assign them a level of risk and coverage. These include:

• Accidental death or dismemberment
• Burn
• Concussion
• Dental
• Dislocation
• Eye injury
• Laceration
• Fracture

  The more severe your injury, the greater your benefit will be. For more serious conditions, such as being in a coma, you can expect a benefit as high as $10,000. Less serious injuries, like a laceration, may only trigger a benefit worth a few hundred dollars.

Companies may distinguish between “basic dismemberment” — accidental loss of just one limb, sight in one eye, or hearing in one ear — and “catastrophic dismemberment” — accidental loss of at least two limbs, sight in both eyes, hearing in both ears, or ability to speak. These benefits can be tens of thousands of dollars.
Why Do I Need Accident Insurance?
  Accidents can happen anytime and anywhere and bring on unexpected cost such as exams, x-rays, stitches, or more serious accidents end up in hospital stays.  Many of these cost add up, even with health insurance you will need to pay the co-pays, co-insurance and deductibles.  For children it is bound to happen that they have an accident and end up needing medical care, weather it be from playing sports, playing outside or just around the house.  For the low cost of accident insurance, normally between $6-$20 a month (the cost of a cup of coffee now days) you can help to protect your family and your finances when life happens. 
For additional information and a quote on an accident plan for the family, schedule a time to talk with one of our specialist today