Accidental Medical Expense
Accidents happen, and sometimes they can be quite devastating. If you have accident insurance when you suffer an accident, such as a slip-and-fall, you could claim a large cash benefit payment from your insurer.
Accident insurance is quite affordable, and there are many types of plans available. This is what you should know about accident insurance and how it works.
What is Accidental Medical Expense
Accidental medical expense, also known as accident insurance, is a supplemental insurance product that helps you pay for any medical costs or other out-of-pocket costs that arise after you suffer an accidental injury. It only covers qualifying injuries, so check with your plan provider to determine which injuries will be covered.
What Does It Cover?
The word “accident” is a broad term that covers a variety of situations. Therefore the injuries that fall into this category vary in nature. An accidental injury may include any of the following:
- Burns
- Lacerations
- Loss of a limb
- Broken limb
- Paralysis
- Also includes coverage for accidental death and dismemberment
Other accidental injuries may be covered as well, but the full extent of your coverage will vary based on your plan.
Accident Insurance and Major Medical Insurance
Accident insurance is a supplemental insurance product, therefore it is not meant to replace your primary health insurance plan. If you feel you may be at risk of being injured in an accident, an accident insurance policy can provide you with the funds you need to pay your out-of-pocket health care costs.
Many people think that their primary medical insurance will cover all of their costs in the case of an accident, but this actually isn’t the case. Most of the time, there is a substantial amount that must be paid out of pocket when you are injured in an accident. Accident insurance helps fill these coverage gaps, providing you with additional income that can be used to pay medical bills.
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Accident Insurance Benefits
The way accident insurance plans are structured makes it difficult to grasp how your benefits will be distributed. Generally, accident insurance will either pay a lump sum payment or pay a specific amount based on the accident you experienced. To learn exactly how accident insurance benefits work, please speak to one of our experienced insurance agents.
Accident Insurance Costs
Accident insurance is relatively inexpensive. Usually, a person who isn’t risk-prone should be able to find coverage for less than $30 a month. There are more expensive plans, but that is a good average to base your search on.
Find Accidental Medical Expense Coverage
If you are looking for accidental medical expense coverage, Veritas Insurance Group can help. We are knowledgeable insurance experts who will evaluate your needs and help you find a solution that fits your specific situation. To get started with a free quote, please give us a call at 563-940-2284.
