Group Accident Insurance
Accident insurance is an insurance policy for an unexpected bodily injury. It’s a type of supplemental insurance that covers accident-related costs. Group accident insurance differs from health insurance in that the lump sum payment isn’t restricted to only covering medical expenses; employees can use the benefit money for anything they need. It may help pay for uncovered medical costs, like an ambulance ride or the amount needed to meet your medical deductible. But the money can also be used for non-medical costs, such as paying rent or buying groceries if you are unable to work.