Accident Insurance
Accidents happen. Ask yourself how prepared you are in case a serious accident occurs. Things to think about are health costs not covered by medical insurance or Medicare, any loss of income, and the costs related to everyday living while in recovery. This is where supplementing your primary health insurance with additional coverage can be valuable.. Another valuable use of Accident coverage is it helps cover costs while in a disability insurance elimination period.
It’s important to note that accident insurance is a supplemental coverage, and not intended to replace your primary health coverage, such as Medicare, Medicare Advantage or any exchanged based or employer provided health insurance. Accident insurance works in tandem with those different types of coverage.
Accident insurance, also called accident expense or accidental death insurance, gives you cash if you get injured or die from an accident covered by your policy. It pays a benefit directly to you (or your beneficiaries in case of death) for injuries resulting from a covered accident. Here are a few types of things accident insurance might cover:
- Emergency treatment
- Hospital stays
- Medical exams
- Supplies
- Living Expenses such as food, auto and housing, etc.
- Final expenses
Each Accident insurance plan varies in coverage, so it’s important to examine each prospective coverage to determine whether it’s meets YOUR criteria. A few of the basics that most Accident insurance policies cover are:
- Emergency care – hospital treatment, ambulance, X-rays, exams or ER visit
- Specific injury care – burns, concussion, emergency dental work, ear or eye injury or poisoning
- Follow-up treatment, physical therapy, prescription meds, supplies, or even transportation and lodging.
- Hospital care – hospital admission/confinement, intensive care or rehab unit.
- Surgical care – major surgery, ruptured disc, hernia, outpatient surgery or anesthesia
- Accidental death – benefit is paid directly to your beneficiaries if your death is a result of an accident
- Preventive care – some policies offer a wellness benefit that pays you cash back for routine blood work, immunizations and more
One important fact to know about all Accident insurance policies is that if a certain condition isn’t listed in the coverage, it won’t be covered.
One important coverage that goodaccident insurance plans containsis an accidental death and dismemberment rider. This type of rider pays out a benefit to the deceased’s beneficiaries if the insured died or became dismembered (loss of a limb) from an accident. Many individual accident insurance policies offer accidental death insurance as part of the policy, not as an optional rider. This is a good substitute coverage for people who can’t qualify for regular life insurance.
Who might consider accident insurance?
- Anyone with current health insurance, on Medicare or Medicare Advantage
- Anyone with a limited budget for unexpected medical expenses
- If you’re unable to qualify for life insurance due to medical reasons
- If a pre-existing condition makes you ineligible for disability insurance, you could receive benefits instead through an accident insurance policy
Accident insurance works well with any sort of Medicare coverage. The coverage is flexible enough to help in most Medicare homes.
If you have additional questions, schedule a call or email your Medquote Medicare Expert and ask if Accident insurance is right for you.