5 Reasons to Consider Personal Accident Insurance

When an accident happens, most of us aren’t financially prepared for the overwhelming costs of care that may follow — even if we have medical coverage. Supplemental accident coverage can help take care of the unexpected costs of treatment and recovery and provide peace of mind.

Would You Benefit From Personal Accident Insurance?

When it comes to personal accident insurance, every situation is unique. While it can provide you with the financial protection you need in the event of an accidental injury, you may be wondering whether it’s the right decision for you.

Accident coverage might be right for your household if you:

• Have children who are active or play sports.
• Work at a physically demanding job. 
• Participate in physically active hobbies. 
• Enjoy doing work or projects around the house.

5 Benefits Of Having Personal Accident Coverage

Maybe you’re one of the people described above, but you’re still not sure this type of supplemental health coverage is something you and your family need. Consider these five benefits of personal accident insurance during your decision-making process:

1. You choose how to use your benefits. Your accident insurance benefit is paid directly to you. That means you can choose to use the money where you need it most, whether that’s on medical costs or daily expenses.
2. There is no medical underwriting. This means there are no medical questions asked or exams required before you can enroll in accident coverage. If you feel that your family would benefit from the added protection, you’re able to enroll.
3. Policies are budget friendly. Your cost for a policy will ultimately depend on where you live and how much coverage you want. But considering the expenses the coverage will help pay for in the event of an accident, you’re the one who benefits.
4. You can take leave if you’re self-employed. If you’re self-employed, you may not have sick leave to help cover expenses while you take time to heal after an accident. Personal accident insurance would help protect your finances so you can focus on recovery.
5. Peace of mind. Whether you have plans to take up scuba diving, hike the Appalachian Trail, or take on some DIY projects around the house, personal accident insurance helps those who intend to stay physically active enjoy their hobbies with peace of mind.

How Does Personal Accident Insurance Work?

Personal accident insurance provides essential coverage against accidental injuries. And the injury doesn’t have to be severe. Some commonly covered accidental injuries include broken bones or dislocations, burns, and dental and eye injuries.

With this coverage, you’ll receive a fixed cash payment depending on your injury. You can use the funds to: 

• Cover medical expenses resulting from the accident.
• Pay for treatments or equipment needed for recovery, like physical therapy or crutches.
• Cover daily expenses like food or rent while you’re away from work.
• Take care of any expenses that may come up in the case of accidental death.

Deciding On Personal Accident Coverage

You can also visit our supplemental health webpage to learn more about personal accident coverage and talk to your employer about the policies they may offer before making your decision.