Accidents can happen to anyone. But what people often don’t think about – or plan for – are the costs that accompany an accident.
What is group accident insurance?
Group accident insurance, underwritten by Securian Life Insurance Company, helps your employees plan for the unexpected and provides them with additional peace of mind.
You have maximum flexibility when designing a plan and can choose the features and options most valuable to you and your employees. And you can take advantage of Securian’s signature service and support for your employees, including educational tools like Ellie,™ the interactive benefits guide.
Why offer group accident insurance?
- Accidents happen. More than half occur in or around the home,1 and the potential out-of-pocket costs of care following an accident are growing2
- Employee’s payout doesn’t depend on income or other insurance
- Cash benefit paid directly to the insured to use any way they wish
- No health questions asked – coverage is always guaranteed
- Multiple benefits available for any one accident
- Dependents eligible for same benefit amounts as employee
- Easy for employees to enroll at work and pay through payroll deduction
- Coverage is available at affordable group rates
How group accident insurance works
If the insured employee experiences an accidental injury covered in the policy, they can get a payout to use any way they wish to cover deductibles, out-of-pocket medical costs or everyday living expenses.
Here’s an example of how benefits under a group accident insurance policy might be paid to an employee.
Janet slips off a stair and breaks her lower leg and wrist
Janet spends two days in the hospital
Janet could receive a cash payout to help cover her expenses
|Benefit||Expense amount||Accident insurance payment|
|Broken lower leg
|Emergency room treatment
|Hospital stay (2 days)
|Follow up visits (4)
|Outpatient therapy visits (4)
Actual experience and benefit payouts may vary.
What’s covered by group accident insurance?
You can customize an accident insurance program to include a variety of benefits for your employees. The most commonly covered benefits are listed here, but many more are available.
When an employee submits a claim, the amount paid will depend on the number of benefits for which they qualify, the care they receive, and the terms and conditions of the policy.
Core benefits can be paired with standard and additional benefits to address the financial and health risks facing your employees and your organization.
- Ambulance (air, ground or water)
- Emergency room treatment
- Hospital3 stay
- Paralysis (quadriplegia, paraplegia, hemiplegia or uniplegia)
The following are included with the option to remove.
- Adaptive home and vehicle
- Adult companion lodging
- Child organized sports injury
- Emergency dental (Crowns or extractions)
- Eye injury (with surgery or removal of foreign object without surgery)
- Follow-up physician’s office visit
- Initial physician’s office visit
- Lacerations (With or without sutures)
- Surgeries (abdominal, pelvic or thoracic; cranial, knee cartilage; ruptured disc; tendon, ligament, rotator cuff)
- Transfusions (Blood, plasma or platelets)
- Traumatic brain injury
The following are available upon request.
- Diagnostic testing
- Family care
- Gunshot wound
- Joint replacement (elbow, hip, knee or shoulder)
- Paralysis (triplegia, diplegia or monoplegia)
- Rehabilitative therapy (Inpatient or outpatient)
- Skin graft
- Spinal injection for pain management
- Surgical anesthesia
Additional group accident insurance features
You may select from these additional benefits to complement accident insurance at no additional premium.
Accidental death and dismemberment
This added coverage provides beneficiaries with additional financial protection if an employee’s death or dismemberment is due to a covered accident.
Health and wellness
Once per year, your employees and their spouses can receive a benefit for having a health and wellness screening, such as an annual physical.
Continuation of coverage
If an employee becomes disabled, they may be eligible to have their group accident insurance premiums waived. Continuation options for terminated employees are also available.
1 Summary of Health Statistics for the U.S. Population: National Health Interview Survey, Centers for Disease Control and Prevention, National Center for Health Statistics, 2013.
2 The average employee’s share of health care costs has increased more than 50 percent over the last five years. Source: National Safety Council, Injury Facts, 2014.
3 A hospital does not include a rehabilitation center, nursing home, rest home, extended-care facility, convalescent home, a treatment c enter for drug and/or alcohol addiction(s) or a treatment center for mental health disorders, even if such facilities are affiliated with or adjoined to a hospital.
This is a summary of plan provisions related to the insurance policy issued by Securian Life Insurance Company. In the event of a conflict between this summary and the policy and/or certificate, the policy and/or certificate shall dictate the insurance provisions, exclusions, all limitations and terms of coverage.
This policy provides limited benefits. This policy has exclusions, limitations, reduction of benefits, terms under which the policy may be continued in force or discontinued. For costs and complete details of the coverage, contact Securian Life Insurance Company. All elections or increases are subject to the actively at work requirement of the policy. Securian Life products are offered under policy form series 15-32400 or a state variation thereof. Product availability and features may vary by state.
This presentation provides general information to the recipient. Securian Life cannot provide legal or tax advice with respect to ERISA; COBRA; Health Savings Account (HSA) laws, rules or regulations, any applicable tax laws, rules, or regulation; or any other applicable federal or state laws, rules, or regulation. Any questions regarding these topics should be directed to your legal and tax advisors.