Accident insurance is a type of insurance where the policy holder is paid directly in the event of an accident resulting in injury of the insured.The insured can spend the benefit payment however they choose.Accident insurance is complementary to, not a replacement for, health insurance.

What can accident insurance cover? Accident insurance helps you pay for the medical and out-of-pocket costs that you may incur after an accidental injury.This includes emergency treatment, hospital stays, and medical exams, and other expenses you may face, such as transportation and lodging needs.Reasons to buy an Accident Insurance policy Coverage for medical expenses.

This can include the costs of rehab and what’s not covered by your health insurance.No medical underwriting required.This a viable option if you’ve been refused life insurance in the past.

Provides peace of mind.Accidents could happen, especially if your hobbies include physical activity and potentially dangerous situations.Low cost.

A policy can be as little as $15 a month depending on factors like where you live, your age and how much you coverage you’d like.You don’t have the savings.If you suffer an accident and aren’t able to work as a result, your policy can provide financial assistance.

You want to be protected until you retire.Choose term lengths that can cover you until retirement so you won’t have to dip in to your retirement savings and investments in case of an accident.If you’re a contract employee or self employed.

If your job doesn’t allow for sick leave, accident insurance could protect your finances if you’re unable to work.Qualifications for earning an Accident Insurance policy payments To qualify for an accident insurance payments, below are the kinds of accidents required before a payment can be made to you from your insurance company.Accidental death and dismemberment Quadriplegia Accidental loss of life Paraplegia Disability Permanent total or partial loss of eye sight Permanent total or partial loss of hearing Permanent total or partial loss of one or two limbs Permanent total loss of speech Legs and arms Fracture injuries Thumbs, fingers and toes Skull Jaw Collarbone or sternum Kneecap and elbow Wrist, ankle, hand and foot Ribs Nose Neck