Accident Insurance

Accident Insurance Policies

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Accident insurance is often ignored unjustifiably. This type of insurance pays out to an employee should they be injured or disabled due to a workplace accident. If the worst were to happen and an employee dies, then a beneficiary receives compensation.

This insurance can fill in the gaps where life insurance, health insurance, disability insurance, or workmen’s compensation leaves off.

Disability is the most common aspect to most accident insurance policies. The federal government mandates that most employers obtain disability insurance in order to pay for medical and living expenses that are required due to injuries sustained on the job. Keep in mind that this coverage has a time limit and when it expires employees must apply to the Social Security Administration to receive further benefits. This process can be a long one and sometimes the claim is denied.

Employers offering these policies usually put forth several options. The policies may cover only the worker or it might also cover his or her family as well. Some policies can even cover an employee who is away from the job and has an accident. Others might only cover workplace accidents.

Policy benefits can pay for funeral expenses, travel costs incurred from the accident scene, and even they can cover one’s living expenses. The benefits may also cover job training in the event that an employee needs to change professions as a result of disability. Some policies cover one for missed work days and others pay out cash benefits should one be a victim of violent crime.

Accident coverage provides peace of mind in knowing that in the event of an accident, one will receive compensation. For those with young children or adult dependents, this coverage could be ideal.  Younger people who are single and have no children might elect to have this coverage if they feel that they are more likely than average to be involved in an accident.

Accident insurance is quite affordable and less costly than life insurance. The feeling of extra protection can be priceless.



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