Enrolling in medical, dental and vision insurance often feels like a given, but what about coverage that can offer additional protection? With 72% of U.S. workers feeling at least somewhat stressed about their personal finances, this may be the perfect time to explore how supplemental health benefits, like accident insurance and critical illness insurance, can help ease the financial hit of unexpected events.1,2
What Are These Coverages?
Accident insurance, which we call Accidental Injury Insurance, and critical illness insurance, which we call Critical Illness Benefits, are benefits you can buy in addition to traditional medical insurance. They offer cash benefits when you experience a covered incident, event or condition.
Accidental Injury Insurance is designed to cover accidental injuries like dislocations, burns, lacerations and other urgent care needs.
Critical Illness Benefits offer coverage for serious illnesses like cancer, stroke or a heart attack.3
What To Know About Accidental Injury Insurance and Critical Illness Benefits
1. Cash Benefits – Paid Directly to You
When your accidental injury or critical illness benefits claim is approved, you’ll receive cash benefits that you can use however you wish. The payment goes to you – not a healthcare provider or facility - that you can use for any expense, such as:
- Copays and deductibles
- Child care costs while you recover
- Rent or mortgage
- Groceries and more
2. Works Alongside Your Medical Insurance
These benefits are designed to help create an extra financial safety net in addition to your health insurance. The cash benefits you could get can help bridge the gap between what your medical insurance covers and other expenses even the best medical plans don’t cover.
3. More Affordable Than You Think
Like your other benefits, accidental injury and critical illness benefits are paid through a fixed monthly premium typically deducted from your paycheck. That amount is often far less than a traditional medical insurance premium. When enrolling, you may also be able to get coverage for yourself, your spouse and your family.
4. Coverage When You Need It
These benefits can cover everyday accidents like cuts and fractures as well as more serious illnesses like cancer and stroke throughout all stages of life.
5. Moves With You From Job to Job
Changing jobs or getting ready to retire? No sweat. You can take your accidental injury and critical illness insurance with you for a fixed monthly cost.
How To Sign Up for Benefits
Check with your employer to see if they offer Accidental Injury Insurance and Critical Illness Benefits as part of their annual enrollment event. Choosing coverage through your employer may:
- Offer greater financial protection at a reduced rate.
- Save you time researching and vetting coverages on your own.
- Offer a benefits payroll deduction option, meaning you won’t have to worry about a monthly bill to pay.
Be sure to review all the benefits options during your employer’s annual enrollment or if you experience a life change event. Take control of your financial wellness today so you can rest easier tomorrow.
