Employers normally offer accident insurance to those people who work for them, but it is an often under looked and misunderstood insurance. This coverage can give an employee a cash benefit if they are injured or disabled in an accident at work. If you are killed in the accident, this benefit will go to your family to help them with day to day bills.
Even if you have health insurance coverage, disability coverage, life insurance, and workers compensation coverage, there will be gaps. These gaps can be covered by your accident insurance. This can cover your costs for a specific period of time before you get benefits for disability from the Social Security Administration.
Employers offer several different options. This may cover just you or you and your family members, which is why it is essential that you take the time to evaluate your options to make the right choice for you and your family.
If you cannot work, expenses can quickly add up. From funeral costs to travel cost home to living expenses, these expenses can quickly cause a severe financial issue for you and your family. Accident insurance can help cover these expenses, as well as lost income due to missing work. A cash payout can even be available if you are a victim of a violent crime.
When you are involved in an accident, accident coverage can give you the money you need to take care of your family and the day to day expenses. If you have children, this type of coverage is essential, as most families live from paycheck to paycheck. Accident insurance coverage can mean the difference between filing for bankruptcy and being able to make it through this situation with your finances intact.
Accident insurance coverage can be much more budget friendly than regular life insurance, especially if you are involved in an accident and need benefits. While you may not think you need it, this type of coverage can go a long way to giving you the financial benefits you need to take care of your day to day expenses and other costs that cannot be covered because you are not able to work.