What Is Voluntary Accident Insurance

Accident insurance from the hartford complements other benefits including traditional healthcare insurance.

What is voluntary accident insurance. When it s combined with voluntary critical illness it offers employees an affordable complete benefits package without undue expense to their employer. Voluntary accident insurance is an accident insurance policy aka an accident supplement that an employer offers to employees. Employers struggling with budget constraints find that voluntary accident insurance is a smart way to offer benefits that meet their employees needs without increasing costs to the bottom line. Voluntary accidental death and dismemberment insurance vad d.

When life takes an unexpected turn unum accident insurance can help you pay for the expenses your medical insurance doesn t cover. Virgin islands and guam. Some policies will even cover accidental death and dismemberment. Enroll in this benefit when it s offered at work for convenient coverage and a little extra peace of mind.

In new york insurance products and services are offered by first reliance standard life insurance company home office new york ny. Similar to but legally distinct from health insurance accident insurance complements disability insurance by allowing you to claim benefits even if the injuries you incur do not keep you out of work. A financial protection plan that provides a beneficiary with cash in the event that the policyholder is accidentally killed or loses. Accident insurance helps you pay for the medical and out of pocket costs that you may incur after an accidental injury.

Accident insurance is a type of financial product that pays out a lump sum if you incur specific kinds of injury as a result of an accident. More than 25 injury and treatment types are covered including ambulance charges emergency room visits hospital costs surgery crutches physical therapy and more. This includes emergency treatment hospital stays and medical exams and other expenses you may face such as transportation and lodging needs. In other words there is a life insurance component if you were to die from accidental injuries.

Voluntary accident insurance refers to coverage in which voluntary benefits are offered by an employer but paid for by employees via payroll deduction. Group rates make supplemental health insurance like accident insurance affordable whether offered on an employer paid or voluntary basis where employees pay 100 of the cost. Insurance products and services are offered by reliance standard life insurance company in all states except new york the district of columbia puerto rico the u s.