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Accident Insurance

Facts about Accident Insurance

Most forms of insurance are beneficial, and that’s no different with accident insurance. It provides financial support for people and their families in times of need. Many people are unaware of this insurance and what it does. Here are some facts.

What is Accident Insurance?

Accident insurance is purchased to protect the policyholder from the possibility that an accident may occur resulting in injury or death. It helps pay medical bills and additional out of pocket expenses.

Accident insurance can be purchased on its own or bundled with other policies. Some employers provide this coverage as an employee benefit to help guard against workplace accidents. When provided on the job, accident coverage is often in the form of group insurance.

All about Benefits

Policy premiums must be paid on time before any benefits will be given. When a claim is made, and the policy is active, than benefits will be given. In terms of accident coverage, this is often used for paying medical bills. Accident coverage can also pay for ambulance calls, emergency room stays, intensive care treatment and surgery.

Types of Coverage

Accidental death and dismemberment are common types of accident insurance coverage. This coverage typically only pays out if the accident results in death or loss of body parts, including blindness. There are other forms of accident coverage as well, including coverage for injuries such as broken bones, fractures, dislocated limbs, concussions, lacerations and burns.

Accident normally calls for immediate medical treatment, which can cause huge unexpected expenses. If you have no insurance, then you could find yourself in a financial bind. The insurance also helps pay funeral expenses, in a worst case scenario.

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