Accidents happen all the time – and most of us believe that they will always happen to someone else. Here is the definition of personal accident insurance and what it will do for you. also providing a fixed amount for personal injury or accident protection, accident insurance also covers the cost of the excess that your existing health insurance does not cover. As the cost of the deductible, the non-medical costs and not other costs out of pocket.
Once a claim is accepted, you will be paid directly and the money will be available to you to do what you want, including payment for food, mortgages, bills and other expenses.
The debt of doctors today is the main cause of bankruptcies in America. Knowing what your health insurance does not pay for is as important as understanding what your health insurance covers.
Dozens of millions of Americans are now covered by a high deductible (HDHP), which has a lower monthly premium but a higher deductible (the amount you must pay before your insurance begins).
You can expect to pay around $ 2,295 per year also their premiums for medical treatment. And this does not include the associated non-medical costs such as rehabilitation, transportation or childcare.
Unfortunately, most people do not have that much money just to sit around. In fact, 46 percent of adults say they either can not afford $ 400 emergency expenses or cover them by selling or borrowing something. A Fed report shows that nearly half of adults are poorly prepared for a financial crisis and can barely cover emergency costs in the event of an emergency.
With accident insurance (also known as accident insurance or individual accident insurance or accident insurance) you pay a monthly premium, which usually remains the same as long as you maintain the insurance.
You receive a cash benefit if you have an accident or have been seriously injured during the insurance period. This service can be used for all expenses and helps to keep your family cared for even when you can not work.
What is insured with the accident insurance?
Passenger Accident Insurance offers protection against everyday injuries – such as cycling, walking or walking in a parking lot – that leave a sprained ankle or a broken arm or a broken leg.
Here are some specific costs and non-medical costs covered by accident insurance:
One-off costs and non-medical costs of accident insurance
Rent or mortgage
Another way to think about accident insurance is that you and your family are reassured and your financial future is protected. The result is that you can be paid directly in cash for injuries or physical injuries.
As soon as you file your claim, the money is usually received within a few days.
To select an accident insurance company
With accident insurance and accident insurance, there are several things to consider. In particular, make sure the company is reputable and has a good reputation. An important industry indicator is the AM Best rating, which analyzes the financial stability of insurance companies. AM Best is the oldest and best-known provider of ratings, financial data and news with an exclusive focus on the insurance industry. Also, check out the Better Business Bureau (BBB), which conducts an independent assessment of companies based on customer feedback and complaints.
Accident insurance plans and policies vary widely. Some employers offer group accident insurance, which is usually completed through the workplace and voluntarily covers employees as a group. These plans typically result in lower coverage costs. Individual or personal accident insurance is sold to consumers either directly at the expense of health insurance or based on damages.
Medical Expenses: Refunds medical expenses resulting from a bag or accident.
Compensation: Refunds a pre-defined amount for each eligible claim used to cover your medical expenses resulting from an injury or accident.
Is the accident insurance worth it?
For many purchases, there is a subjective choice based on your lifestyle, financial situation, and budget. The main consideration in accident insurance is your risk tolerance.
Surely this is an extra expense – (usually in the range of 10-20 $ / month). However, the risk of not obtaining coverage means that in the event of an accident, if you do not have any savings for the excess, you can afford to pay a sizeable hospital bill and other expenses.
How do you actually buy accident insurance?
Traditionally, it is a work or an insurance broker. An excellent source for finding, comparing and buying personal accident insurance from various insurance companies is Emerge, a platform that makes decisions based on your lifestyle and budget.
Keep in mind that choosing accident insurance at the end of the day is a personal decision. Many, however, decide whether the costs justify peace of mind and the knowledge that they and their family will be financially protected in the event of a major accident. Some things are indeed priceless.