Accidental insurance, also known as accident insurance or personal accident insurance, is a type of coverage that provides financial protection in the event of accidental injuries or death. This insurance is designed to cover unexpected accidents and their associated costs, such as medical expenses, hospitalization, disability, or even death benefits.
The way accidental insurance works is relatively simple. First, individuals or groups purchase an accidental insurance policy from an insurance company. The policyholder pays regular premiums, either monthly or annually, to maintain the coverage. In return, the insurance company agrees to provide financial benefits if the insured suffers from accidental injuries or death as outlined in the policy terms and conditions.
Accidental insurance typically covers a range of incidents, including but not limited to, vehicle accidents, slips and falls, burns, fractures, or athletic injuries. However, each policy can have specific coverage limitations, exclusions, and conditions, so it is essential to read and understand the terms before purchasing.
In the event of an accident, the insured or their beneficiary should inform the insurance company and provide the necessary documentation, such as medical reports, police reports, or any other evidence required to support the claim. Once the claim is initiated and approved, the insurance company reimburses the insured or pays the agreed-upon benefits according to the terms of the policy.
The policy benefits can vary based on the severity of the accident and the chosen coverage. Some policies might provide a lump sum payment, while others may cover the expenses directly. The insured can use the insurance payout to cover medical bills, rehabilitation costs, lost income due to disability, funeral expenses, or any other financial obligations arising from the accident.
In conclusion, accidental insurance acts as a safety net for individuals or groups against unexpected accidents by providing financial assistance. It ensures that policyholders and their families are protected from the financial burden that can arise from accident-related expenses.
What are the benefits of American Fidelity accident insurance?
Start providing financial protection today for you and your family if an accident suddenly occurs. Benefits include emergency room treatment, ambulance transportation, follow-up treatment and a wellness benefit. Benefit payments made directly to you. Benefits regardless of other coverage.
What does American Fidelity accident policy cover?
Covers accidental injuries resulting from twisted ankles, burns, bee stings, spider bites, or recreational sports activities. Pays an annual benefit for a routine physical exam, preventive testing and more.
Is American Fidelity worth it?
American Fidelity has earned an A+ financial rating from A.M. Best and is also listed as a high-performing life-health insurance company through Ward’s 50. In addition, American Fidelity has a low complaint ratio with the National Association of Insurance Commissioners (NAIC).
