Accident insurance pays a predetermined lump sum to the beneficiaries of the policy if the insured is killed in an accident as a result of an injury or illness.
Employers usually offer two types of accident insurance:
24-Hour and Business Travel
Twenty-four-hour accident insurance covers any accident the insured may have at any time of the day. It is in addition to the benefits of a group life insurance policy.
Business travel accident insurance covers accidents the insured has while traveling on company business.
Some companies pay for accident insurance; others require the employee to pay. If your company pays for your accident insurance, tack on an additional 45 cents per $1,000 of annual coverage to your annual compensation package. If you have a family, add about 70 cents per $1,000 of annual coverage. Check with your employer for details. Our vendors and carriers have established an array
of enhance products with the highest level of support and services for our employer clients.