According to Colonial Life, the new product, which is available to employers with 10 or more eligible employees, will feature optional coverage that pays for 24 health screening tests for employees or pays benefits if employees are hospitalized.
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The new accident insurance will provide lump-sum and daily benefits for covered accidents that can help pay nonmedical expenses and medical costs not covered by major medical insurance, such as lost income from not being able to work, rehabilitation, caregiver fees, travel costs, deductibles and coinsurance.
Accident plans will typically cover services such as doctor’s office visits, hospital admissions, emergency treatment, fractures, dislocations, surgery, rehabilitation, occupational therapy, X-rays and medical imaging. Benefits will be paid directly to individual policyholders unless they specify otherwise, regardless of any other insurance they may have.
Colonial Life’s new group accident insurance plan will offer many features, which include: coverage options; additional benefits options; guaranteed issue; affordable; one rate; health savings account-compliant; multi-state friendly; and portable.
Colonial Life provides financial protection benefits through the workplace, including disability, life, accident, cancer, critical illness and supplemental health insurance.
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