Financial protection when accidents happen
Accidents can occur anytime, anywhere, and often lead to unexpected expenses that traditional health insurance might not fully cover. Group accident insurance provides employees with supplemental financial support to help cover the costs related to accidental injuries.
What is group accident insurance?
Group accident insurance is a voluntary or employer-sponsored benefit designed to provide a lump-sum or scheduled payment to employees if they suffer an injury due to an accident. This coverage helps with expenses such as emergency care, hospital stays, surgeries, rehabilitation, and other out-of-pocket costs that arise from accidents.
What does group accident insurance cover?
Typical benefits may include payments for:
- Emergency room visits and ambulance rides
- Hospital confinement and ICU stays
- Fractures, dislocations, and burns
- Surgery and anesthesia
- Physical therapy and rehabilitation
- Medical devices such as crutches or wheelchairs
- Transportation and lodging related to treatment
Why choose group accident insurance?
- Helps cover gaps: Accident insurance complements health insurance by covering costs that may not be included, like deductibles and copays.
- Affordable group rates: Employers and employees can access coverage at discounted group pricing.
- Convenient payroll deduction: Premiums are typically deducted directly from paychecks.
- No medical exam required: Easy enrollment with simplified underwriting or guaranteed issue.
Who benefits from group accident insurance?
Everyone can benefit, but it’s especially valuable for employees who work in high-risk environments or have active lifestyles. It provides peace of mind that financial burdens from accidents won’t derail their recovery.
How are premiums paid?
Group accident plans may be employer-paid, employee-paid, or contributory. Many employers offer this coverage as a voluntary benefit, with employees choosing whether to enroll.