Category Archives: Accident

Accident Insurance | Disability Insurance | Allstate

Get Extra Coverage When You Need It.

No one plans on having an accident or becoming disabled. That’s why supplemental health insurance, like accident coverage and disability coverage, can help you in the event that you experience one of life’s mishaps. Accident coverage and disability coverage are designed to work with your existing health insurance plan and can help you take care of expenses that may not be covered by your current insurance.

Accident Insurance Offers Added Protection.

If you are accidentally injured, accident insurance from Allstate Benefits can help you take care of out-of-pocket expenses and medical costs beyond what your existing health insurance plan covers, like:

  • Hospital stays
  • Ambulance bills
  • Dislocations
  • Fractures
  • More

Disability Insurance Could Help Protect Your Income.

If you’re unable to work because of an illness or an injury, disability insurance can help you with a monthly cash benefit until you’re able to return to work. Most plans cover up to 60 percent of your income and the coverage stays with you, even if you change jobs. Your monthly cash benefit could help you cover expenses like:

  • Mortgage payments
  • Personal assistance
  • Groceries
  • Car payments
  • More

To learn more about accident insurance and disability insurance, contact us.

Source: Accident Insurance | Disability Insurance | Allstate

Supplemental Accident & Disability Insurance Take a Bite Out of Your Workers’ Comp Costs

Supplemental Accident & Disability Insurance Take a Bite Out of Your Workers’ Comp Costs                  

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No matter your business, keeping your workers’ compensation costs down is a major concern. And developing the most cost-effective methods for tamping down those costs can be challenging. Add to that determining the actual financial impact to your business from loss of productivity and increased absenteeism as a result of work comp claims.

Most employers understand that lowering the incidence of workers’ comp claims leads to better rates because of a lower experience mod. Historically, companies have achieved this by implementing better safety protocols and improving worksite conditions. But now, the 2014 Workers’ Compensation Report suggests that lower work comp rates may actually be achieved by adding voluntary benefits into the mix.

As we mentioned in the previous blog post on voluntary benefits, employers who have included voluntary accident and disability insurance in their overall benefits offering have realized as much as a 50% reduction in work comp claims.[1]

Accident & Disability Insurance Account for Reduction in Work Comp Claims

Earlier this year,  a Workers’ Compensation Survey of 600 companies to determine whether there was a direct correlation between providing employees voluntary accident and disability insurance and a decline in work comp claims. The survey revealed that 55% of companies who provided employees with the option to enroll in accident or disability insurance actually experienced a decrease in work comp claims. And 34% of small to medium companies also reported a decrease.

Voluntary accident coverage. The survey also measured the direct effect of voluntary accident insurance on workers’ comp claims. Results revealed that when employers included these insurance products in their benefits offering, the following occurs:

 

Employers 50% Reduction in Claims 25-49% Reduction in Claims
All 600 Employers 15% 17%
Large Companies 12% 29%
Medium Companies 13% 14%
Small Companies 15% 9%

 

Voluntary disability coverage.  The results for those companies offering voluntary disability insurance were nearly the same, with 47% of large employers, 43% of small, and 33% of medium-sized companies reporting a decrease in work comp claims. Asked whether they could directly link the offering of voluntary disability insurance to a decline in work comp claims, respondents reported the following:

 

Employers 50% Reduction in Claims 25-49% Reduction in Claims
All 600 Employers 14% 15%
Large Companies 11% 20%
Medium Companies 18% 7%
Small Companies 18% 17%

Reduction in Costs, Claims and Employee Productivity

The information above reveals that employers can, in fact, reduce the frequency and cost of work comp claims by simply making voluntary accident and disability insurance available to their employees AND carefully explaining during enrollment time the purpose and usefulness of these supplemental coverages. With a reduction in claims comes a lower experience mod resulting in lower work comp insurance rates. In addition, employees who avail themselves of these voluntary insurance products gain financial peace of mind and are better able to avail themselves of the care they need. In the end, employers experience greater productivity and a reduction in absenteeism.

Providing these voluntary products is easy. They can be offered as an option with your larger benefits package at little or no cost. Employees pay the premiums through payroll deductions on a pre-tax basis.

Learn how voluntary accident and disability insurance can help you proactively gain control of your workers’ compensation costs.

[1] Employee Benefit News, “Survey Finds Majority of Employees Want Customizable Benefits,” Tristan Lejeune, Mar. 1, 2013

Source: Supplemental Accident & Disability Insurance Take a Bite Out of Your Workers’ Comp Costs

Why do I need Accident Insurance??

Why do I need Accident Insurance?

Every company says the same thing.  It is crucial that we replace lost income and cover the additional bills that come with accidents.  We offer coverage with many of the top carriers.  Contact us today to find the best quote on Accident Insurance.

 

Accidents happen to all of us. And, whether it’s a broken bone, a sprain, a car accident, or an allergic reaction to a bee sting, meeting the costs for treatment and recovery after an injury can be challenging. An affordable accident insurance policy can help you pay for the expenses that are not fully covered by your major medical insurance.

Source 1 -ehealth

ACCIDENT INSURANCE

You may not be able to prevent an accident from happening, but you can be prepared for when it does. Accidents happen. Don’t be caught unprepared.

Even if you have medical insurance, you still have deductibles and copayments. You might also have expenses your insurance doesn’t cover. If you miss work due to accidental injury, how will you keep up with your regular bills and expenses?

Accident insurance pays you cash for accidental injuries

If you’re involved in a covered accident, we send you a check for covered injuries and let you decide the best way to spend it. You even get coverage for multiple injuries from the same accident. And all of this is on top of any other benefits you may receive from your other insurance plans.

Source 2 -Lincoln

Metlife –

Group Accident Insurance complements your medical coverage by helping to ease the financial impact of an accident. It provides you with a payment to use as you see fit and can help with any of the out of pocket expenses you may incur as a result of an accident, such as insurance deductibles, copays, transportation to/from medical centers, childcare and more.

Accidents can happen anytime, anywhere. Today’s active lifestyles may make you more susceptible, too. You can’t plan for accidents, but you can be better prepared financially to handle them when they do occur.