Voluntary Accident Coverage
Accident insurance helps provide a layer of protection for individuals that major medical plans might not cover (helps narrow gaps caused by out-of-pocket expenses such as deductibles, co-payments, and non-covered medical services). These are Guarantee Issue with a group of 10 or more employees, and plans can be designed to complement an overall benefit package. Benefits are paid directly to the Insured.
“Workplace accidents are covered under workers’ compensation insurance, but accidents that occur when employees are not at work would be covered by a voluntary accident insurance plan. The accident insurance would help to cover the out-of-pocket costs associated with the employee’s medical insurance plan (deductible and coinsurance) that the employee would otherwise have to pay.”
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