Medical insurance offsets most of the treatment costs for injuries resulting from an accident. But what about the out of pocket costs you don’t consider? There’s time off from work while you or a loved one convalesces, doctor visits and hospital co-pays, medical insurance deductibles, maybe child care expenses—even stocking up on ibuprofen and bandages! It’s inconvenient, expensive, and can make a serious dent in a family’s savings. Accident insurance provides a hedge against this possibility, paying a fixed, lump-sum benefit for injuries resulting from a covered accident—up to and including death if your employer’s plan includes that provision.
These benefits are paid directly to you or your designee, to use however you wish. The benefit schedule specifies payment amounts for events like hospitalizations, Emergency Room treatments, surgery, coma, paralysis, major diagnostic tests, physical therapy, fractures, burns, dislocations, etc.