About Accident Insurance
Treatment for a broken bone, a laceration or other accidental injury shouldn't deplete someone's bank account. But many medical plans only cover a portion of the costs. Accident insurance pays in addition to major medical coverage that is already in place. This extra protection can help ease financial worries, so everyone can concentrate on getting better.
How Accident Insurance Works
Accident insurance from The Standard pays cash benefits when a covered accidental injury occurs. Coverage may include benefits for ambulance services, physical therapy and more. People with this coverage submit claims after diagnosis and/or treatment and benefits are paid for approved diagnoses and procedures based on a pre-determined schedule of benefits. The cash benefits can be used to help pay for deductibles, treatment costs, house payments or any other household expense – there are no restrictions.
Meet Cindy
Cindy breaks her leg playing soccer and spends a few hours in the emergency room. The doctor orders x-rays, two follow up visits and three physical therapy sessions.
Cindy pays the $1,250 deductible and $1,875 in coinsurance for her major medical insurance, for a total of $3,125 in out-of-pocket expenses. Then, she files a claim through her Accident insurance from The Standard and receives $4,8801 in benefits. That's enough to cover her out-of-pocket expenses with enough left over to cover some of her monthly expenses.
Features and Benefits
- Coverage is Guaranteed Issue at initial enrollment subject to pre-existing condition limitations if applicable*
- No waiting period for coverage to begin
- Coverage available for spouse and children
- Affordable premiums paid through convenient payroll deduction
- Benefits are paid directly to the covered person without spending restrictions
- Coverage can be continued as long as premiums are paid to The Standard
- Optional riders include Outpatient Physician's Benefit riders, which pay a daily benefit when you visit a doctor outside the hospital for any reason2