Motor vehicle and other unexpected injury-related accidents caused almost 39 million* trips to the emergency room in 2015. And unanticipated—and uncovered— after-treatment ER bills average over $600.** Your major medical insurance will help with many of your expenses, but wouldn’t you feel better knowing you’ll have extra help paying some of your bill?
Accident Insurance, underwritten by Transamerica Life Insurance Company, pays you a benefit to help cover your out-of-pocket expenses so you can focus more on getting well and less on the extra expenses an accident can bring. Benefits include:
Thanks to your employer’s group rates, you’ll pay less for this insurance than you would for individual insurance you’d find on your own.
*Centers for Disease Control, National Hospital Ambulatory Medical Care Survey: 2015 Emergency Department Summary Tables, tables 1, 4, 15, 25, 26, viewed at https://www.cdc.gov/nchs/fastats/emergency-department.htm
** CNBC, "Many get hit with surprise 'out-of-network' bill after emergency rooms: Study," viewed 6-15-17 at http://www.cnbc.com/2016/11/16/many-get-hit-with-surprise-out-of-network-bill-after-emergency-rooms-study.html
Answers about the plan, including eligibility, options, enrollment, customer service and more.
Who is the provider?
This is a summary of AccidentAdvance®, Accident Insurance underwritten by Transamerica Life Insurance Company, Cedar Rapids, Iowa Policy form series CPACC100 and CCACC100. Forms and form numbers may vary. This insurance may not be available in all jurisdictions. Limitations and exclusions apply. Refer to the policy, certificate and riders for complete details.
How can this help me?
Most families don’t budget for the costs associated with accidents. When an accident does occur, the last thing on your mind is the charges accumulating while at the emergency room:
These costs can add up fast. Most families have medical insurance that will cover a majority of the expenses. But, what about the out-of-pocket medical expenses, such as lost wages an employee or spouse/domestic partner loses when out of work or staying home to care for an injured family member? You hope that an accident never happens, but at some point you very well may take a trip to your local emergency room. If that time comes, wouldn’t it be nice to have an insurance policy that pays you a benefit regardless of any other insurance you have? </
Who is eligible?
You and your eligible family members just need to enroll during your enrollment period and be actively at work for your insurance to be effective. Some states require the insured to have medical coverage.
When can I enroll?
As a new hire, you can enroll during your new hire enrollment period. Outside of your new hire enrollment period, enrollment is limited to the company’s annual enrollment period.
What if my employment status changes?
When you leave or retire from your current employer, you can continue your insurance without interruption through the portability provision, subject to applicable law and the policies' terms and conditions. Although payroll deduction will no longer be available if you retire or leave your company, you can opt for other payment methods such as monthly payment through Automated Clearing House or quarterly, semi-annual or annual direct bill. Higher rates may apply.
Will my rates increase as I get older or if I file a claim?
No, your rates will not increase due to age, health or individual claims.
Will I have to take a medical exam to get this insurance?
No! For the initial Open Enrollment period and for new hires added throughout the year, this insurance is guaranteed-issue (which means you may qualify for insurance without having to submit to a medical exam or answer health questions).
What types of accidents and injuries are covered?
Once you’re enrolled in this insurance, you’ll collect benefits for various covered events, including:
You’ll also receive a lump-sum payment when you have these covered medical services/treatments:
[Provide full product limitations and exclusions when proposing for specific client]
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