New group accident insurance plan from Colonial Life helps provide financial protection from the unexpected

Colonial Life has introduced a new group accident insurance plan that helps provide financial protection to working Americans who have an accidental injury. The new product, available to employers with 10 or more eligible employees, features optional coverage that pays for 24 health screening tests for employees or pays benefits if employees are hospitalized.

Accident insurance can help offset today’s rising deductibles and out-of-pocket medical costs.

Every 10 minutes, more than 700 Americans suffer an injury severe enough to seek medical help.1 And medical help comes with an expensive price tag.
Today’s employee bears a greater financial responsibility for medical costs with increased deductibles, bigger copayments and shrinking coverage. In fact, the number of employees with a $1,000 or greater annual deductible in their health plans has tripled in the past six years.2

Accident insurance provides lump-sum and daily benefits for covered accidents that can help pay nonmedical expenses and medical costs not covered by major medical insurance, such as lost income from not being able to work, rehabilitation, caregiver fees, travel costs, deductibles and coinsurance. Accident plans typically cover services such as doctor’s office visits, hospital admissions, emergency treatment, fractures, dislocations, surgery, rehabilitation, occupational therapy, X-rays and medical imaging.3 Benefits are paid directly to individual policyholders unless they specify otherwise, regardless of any other insurance they may have.