Accident insurance provides cash to pay expenses associated with an accidental injury. Your medical insurance will pay for medical treatment after an accident, but it usually won’t pay the entire expense. For instance, you may have a deductible or additional expenses because you travel for treatment. Health insurance won’t cover that, but accident insurance will.
Anyone can benefit from this insurance, but if you have children, are an athlete, or have a dangerous job, then you’re more likely to benefit from this coverage. This is because children and athletes are prone to accidents. And people who work dangerous jobs are also at risk for injuries.
When you need help, you file a claim with your insurer. The insurer will let you know if your claim is approved or denied. If your claim is denied, then your insurer will provide the benefit. But there is also accidental death and accidental disability insurance. Accidental death pays the benefit to your heirs upon your death. And accidental disability provides a benefit when you’re unable to work because of an injury.
If you’re interested in this coverage, you must purchase the policy before an accident occurs. The policy will not cover you for something that has already occurred.