Just as it sounds, Accident insurance can help you pay for costs you may incur after a covered accidental injury. Covered accidents include a car accident, a fall while skiing or even a fall down the stairs at home. The benefit is paid regardless of any other insurance coverage you might have (including your medical coverage). The policy also includes an Accidental Death Benefit of $50,000*.
* Spouse benefit is $25,000 and Child benefit is $10,000.
including major diagnostic exams
if you are away from home when the accident happens
How the Plan Works
The benefit amount is paid directly to you unless otherwise assigned. You can use the financial benefit in any way you like, including deductibles, child care, housecleaning, groceries, utilities, or any purpose that can help you meet your personal, financial or household needs. Below is an example scenario.
On his way to work, John was in a car accident.
He was transported by ground ambulance to the emergency room and admitted to the hospital.
He had a dislocated hip and spent five days in the hospital.
He had several physical therapy sessions before returning to work.
John submitted his accident claim and received $5,850 from his accident insurance coverage.
He used it towards his deductible, copay and supplemental income for his missed work days.
|John's Accident Insurance Benefits Paid A Total Of $5,850
|Ground Ambulance||$300||MRI||$150||Dislocated Hip||$3,000
|Emergency Room||$150||Hospital Stay – Admission||$1,000||Appliances||$100
|X-ray||$50||Hospital Stay – Daily (5 days)||$1,000||Physical Therapy (4 sessions)||$100
Coverage That Is Yours — No Matter Where You Are
There are no medical questions or pre-existing condition clauses with the coverage. You may take the coverage with you if you leave MIHS for any reason (with certain stipulations). Coverage is available for on-and-off job accidents. Coverage is available for your spouse and children.
Major Organ Failure
How the Plan Works
Critical Illness insurance pays a fixed benefit directly to each participant (unless otherwise assigned) who is diagnosed with a covered critical illness; re-occurrence benefits if the condition returns, and additional occurrence benefit if another covered illness is incurred (subject to limitations). You can use this money for any purpose you like. It can help pay for expenses not covered by your health care plan (such as your deductible or copays), lost income, child care, travel to and from treatment, home health care costs or any of your regular household expenses. Policy includes a $50 health screening benefit. Below is an example.
Tom suffered a relatively small stroke and was hospitalized for five days.
He began rehab to get back to where he was physically before the stroke.
Tom submitted his claim and received a lump-sum payment of $10,000.
|Critical Illness Coverage|
|Benefit Amount||Guaranteed Issue Amount for|
New Eligible Employees
|Guaranteed Issue Amount for
|Children||50% of employee amount||All guaranteed issue||All guaranteed issue|