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What You’ll Risk By Going Without Accident Insurance

April 11, 2017

Most people are familiar with the phrase, “accidents happen.” Unfortunately, it’s a true statement, whether you’re young or more advanced in years.  

Not only do they happen, they’re almost always unexpected.

Accident insurance is coverage that can help with costs associated with an accident that isn't covered by your medical insurance plan.

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This type of plan pays out in one lump sum after an accident has occurred. A major plus to this coverage is that the money can be used in whatever way you see fit, including ways you may not think of right away, such as childcare and transportation.

What are the pluses?


The fact that anyone is susceptible to an accident is one good reason to consider Accident Insurance. There are other benefits, as well.

  • No waiting period. As soon as the premium is paid, you’re covered!
  • No medical exams. Coverage isn’t dependent on a medical exam or any other health assessment.
  • Direct payment. The sum you’re owed is paid directly to you and not the medical providers.
  • Simple claims process. There’s no confusing paper trail to chase, just one claim form per accident.   

Now that you know some of the benefits, you may be thinking that it sounds great but wondering if you actually need it.

Do you need Accident Insurance?

The unpredictable nature of an accident-induced health emergency can leave you reeling.

The truth is, an accident or injury can happen to anyone, but there are some people who are at a heightened risk, including those who:

  • Play a sport. Broken bones, sprains, and strains are more common than you’d like to think.
  • Are very physically active. If injuries were predictable they would be far less common. Being physically active can result in accidents, even when you’re careful.
  • Are getting older. As people age they can become weaker and more unsteady on their feet, increasing the chances of a fall or some other injury.

Chances are, you’re not prepared for an unexpected hospital stay, emergency room visit, x-rays or other testing. The associated costs rack up swiftly.

Accident insurance will cover the gaps left by your other medical coverage with a lump sum that you can use in the way you deem most necessary for your situation.

Being financially prepared is one less worry that you’ll have if something unfortunate were to happen to you or a member of your family.

Considerations when buying Accident Insurance

What should you look for when you’re ready to purchase this type of insurance?

Use these general guidelines to ensure you’re getting what you need.

  • Is it flexible? Look for a plan that allows you to choose the amount of coverage that you’re getting.
  • Is it affordable? Do the math and make sure you can fit the monthly premiums comfortably into your budget.
  • Is there risk involved? Find out if there are penalties or refunds if you decide to cancel the policy at some point.

Make sure to ask a lot of questions and be sure you understand the answers.

This is where a licensed independent insurance agent can be a huge advantage. They’re trained to know the ins and outs of policies, the best way to explain them in a way you understand, and they act as an advocate should any issues arise.

If you’re interested in finding out how InsureOne Benefits can assist you in finding an Accident Insurance policy that works for you and your family, give us a call today!

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