Why accident insurance?
Because accidents happen when you least expect them. Even with health insurance, the extra expenses from an accidental injury can really add up. Lost wages from missing work, high health insurance deductibles and unpaid bills all affect your lifestyle, home and family. And because 57% of Americans have less than $1,000 In their savings accounts,1 many don't have financial help during times like these.
What is accident insurance?
Accident Insurance, also known as supplemental accident insurance or personal accident insurance, pays benefits for accidental injuries.
Consider the affect a common accident may have on your financial picture. Because you never know when you or someone in your family could get hurt In an accident, an accident insurance policy, like those underwritten by Golden Rule Insurance Company, can be helpful when the unexpected happens.2
Edgar's mountain bike ride In the park turns serious when he gets into an accident and fractures his arm. He Is taken by ambulance to the hospital where he has surgery to repair the fracture. His total medical expenses are $7,006.
Edgar has limited savings, but because Edgar has an Accident ProGuard Insurance plan underwritten by Golden Rule Insurance Company, he pays a $250 deductible and then receives $6,756 out of his chosen plan's $10,000 calendar year benefit level to help with his covered medical costs. His savings are not used, and Edgar can pay for the care he needs.
What are my accident insurance options?
The options you have for accident insurance vary by state, but multiple plan options are available to meet many needs and budgets.3
- Benefits paid directly to you
- Multlple benefit levels so you can choose a monthly cost that works for you
- No networks - Choose where you want to get care
- Cash to help with unexpected medical costs due to accidental Injury
- Cash for accidental Injury medical costs that can help pay health insurance gaps, like a high deductible
Available with some plan designs
- Accidental Injury
- Accidental Death & Dismemberment
- Critical Illness
- Non-Injury hospital admission benefits
- Guaranteed Issue options - No medical questions to answer
Accident ProGuard Series (available in select states) 5
- Basic accident insurance product
- Guaranteed Issue - no medical questions to answer to apply
- Includes Accidental Death & Dismemberment (AD&D) coverage
- Accident Insurance with critical Illness insurance paying a lump sum for covered illnesses
- Choose guaranteed issue plans or simplified issue plans (some medical questions, more benefit levels)
- Combines a benefit for hospital admission due to sickness with accident and critical illness coverage
- Helps with those out-of-pocket medical expenses like deductibles that aren't covered by major medical plans
Accident SafeGuard Products (available in many states)
Pays a fixed benefit amount for qualifying accidental Injury losses (like $200 for an ER visit, depending on your plan)
What does accident insurance cover?
- Hospital Emergency Room
- Physical Therapy
- Urgent Care Center
Who may need accident insurance?
- Individuals and families with an activate lifestyle
- Individuals and families with small children
- Anyone with current health Insurance
- Anyone with a limited budget for unexpected medical expenses
The people and events depicted in the example are fictional and do not represent actual cases.
1 Huddleston, Cameron. "More Than Half of Americans Have Less Than $1,000 in Savings in 2017." GOBankingRates survey. Retrieved from https://www.gobankingrates.com/saving-money/half-americans-less-savings-2017/
2 THESE PRODUCTS PROVIDE LIMITED BENEFITS. THESE ARE SUPPLEMENTS TO HEALTH INSURANCE AND ARE NOT A SUBSTITUE FOR THE MINIMUM ESSENTIAL COVERAGE REQUIRED BY THE AFFORDABLE CARE ACT (ACA). LACK OF MAJOR MEDICAL COVERAGE (OR OTHER MINIMUM ESSENTIAL COVERAGE) MAY RESULT IN AN ADDITIONAL PAYMENT WITH YOUR TAXES. These products provide benefits in a stated amount regardless of the actual expense incurred.
3 Benefits vary by plan. Not all features are available with all plans.
4 There are no network limitations for these accident insurance plans, but you may be bound to certain networks and providers with your major medical plan.
5 Available in AK, AL, AR, AZ, CO (Accident ExpenseGuard only), CT (Accident ExpenseGuard only), DC, DE, FL, GA, HI, IA, IL, IN, KS, LA, ME, MI (Accident ExpenseGuard only), MN, MO, MS, MT, NC, NE, NV, OH, OK, OR, PA (Accident ExpenseGuard only), RI, SC, SD, TN (Accident ExpenseGuard only), TX, UT, WI, WV and WY.
6 All products require separate applications. Separate policies or certificates are issued unless the product is a rider or optional benefits. Short term plans have a limited duration and are not renewable. Short term health insurance is medically underwritten and does not cover preexisting conditions. It does not meet minimum essential coverage requirements, meaning signing up for this coverage may result in a tax penalty. Expiration or termination of a Short Term Medical plan does not trigger an ACA special enrollment opportunity.
7 National Hospital Ambulatory Medical Care Survey: 2014 Emergency Department Summary Tables.
Retrieved from https://www.cdc.gov/nchs/fastats/emergency-department.htmOpens a new window
No individual applying for health coverage through the individual Marketplace will be discouraged from applying for benefits, turned down for coverage, or charged more premium because of health status, medical condition, mental illness claims experience, medical history, genetic information or health disability. In addition, no individual will be denied coverage based on race, color, religion, national origin, sex, sexual orientation, marital status, personal appearance, political affiliation or source of income.
References to UnitedHealthcare pertain to each individual company or other UnitedHealthcare affiliated companies.
Administrative services are provided by United HealthCare Services, Inc. or their affiliates.
Products and services offered are underwritten by Golden Rule Insurance Company, Health Plan of Nevada, Inc., Oxford Health Insurance, Inc., UnitedHealthcare Life Insurance Company, UnitedHealthcare of the Mid-Atlantic, Inc., UnitedHealthcare of New York, Inc.