Insurance providers offering accident coverage offer a variety of plans to help people manage the costs associated with unexpected injuries. These supplemental policies pay out cash for medical expenses that don’t fit into health insurance deductibles or out-of-pocket maximums.
These payments can also cover other expenses and keep families’ budgets on track.
Unum
Unum offers employees protection for out-of-pocket expenses that occur as the result of an accidental injury. This coverage helps ensure that family members can focus on recovery and not worry about finances. Employees can access their policy details online, including coverage information, claim forms, and more. The company also provides a mobile app for easy access to claims information and updates.
Your policy contains exclusions and limitations that may affect your benefits. Please review it carefully before submitting a claim.Unum will determine the amount to be paid for a covered loss, according to the Benefits List.
If you die as the result of an accident while on a covered layoff or leave of absence, your death benefit will be paid to the beneficiary named by you for this group plan. You can change your beneficiary at any time by completing and signing a form approved by your Employer and submitted to us. If you do, the change will take effect on the date that your Employer receives that form.
The portable insurance coverage terms of this group plan allow you to convert your coverage to an individual life policy without evidence of insurability, if you meet the conversion requirements. The maximum amount of life insurance that you can convert is equal to the plan’s insured death benefit. You can also convert to an individual term policy if you are no longer eligible for the group plan, but you cannot convert back to this group plan at a later date.
Colonial Life
Colonial Life is a well-established insurance provider that offers supplemental accident and health coverage. Their supplemental coverage plans can help fill the gaps caused by increasing deductibles and co-payments in major medical plans. These plans can also help cover costs associated with critical illness. These benefits are designed to give workers peace of mind knowing that they can pay for unexpected expenses and help them keep their savings.
Accidental injuries are common and often occur where they are least expected. These injuries may result in expensive and time-consuming hospital visits and procedures, lost income, and financial stress. Supplemental accident and health insurance can be a good way to help workers pay for these unexpected expenses, especially when they are out of work. These policies can also be a great complement to existing workplace benefits, such as short-term disability and long-term disability.
Employees can choose from a number of different voluntary supplemental insurance plans offered by Colonial Life, including dental, critical illness, accidental death, and whole life insurance. These plans are available through payroll deduction and are portable, meaning they can be taken with employees when they change jobs or retire. They also do not require a medical exam to qualify for coverage.
The company’s flagship supplemental insurance product, accident insurance, is available through the workplace in many states. This product provides a lump-sum benefit for hospital confinement, and it can be used to help pay for copayments and deductibles that are not covered by most major medical plans. The policy also includes travel assistance and a transportation/lodging benefit.
Colonial Life has been around for decades and has a solid reputation for quality products, customer service, and stability. Its life insurance policies have received high ratings from A.M. Best and the BBB, while its accidental death and cancer insurance has seen consistent growth over the years. The company’s official website, however, could use a bit of an upgrade in terms of user-friendliness. There is no official claims response time frame promise, and there are a number of complaints filed against the company through the BBB.
Aflac
When a serious accident occurs, you can be faced with medical bills and other expenses that could be financially devastating. Luckily, Aflac offers a range of insurance coverage to help with these unexpected costs. In addition to covering hospitalization, ambulance fees, and transportation costs, Aflac can also provide money for rental car or mortgage payments and food expenses. This makes it an ideal choice for people who have a hard time affording medical care or are unable to work due to an accident.
Although the name “Aflac” may sound strange, it is a highly respected company with a long history of innovation and customer service. Since the company began in 1958, the insurance provider has offered a wide range of products, including accident and disability policies. Today, Aflac continues to grow and innovate in the insurance industry. Its employees are committed to helping individuals and families through difficult times. Unlike traditional health insurance, Aflac’s accident and sickness policies pay cash benefits directly to the policyholder (unless assigned). These benefits can be used to cover deductibles, co-pays, and other annual out-of-pocket expenses. Aflac is a popular choice for college students and employees because its premiums are deducted from paychecks and offered at discounted rates.
In addition to the basic coverage, Aflac offers a variety of optional riders to make the policy more flexible.