Prudential Offers New Accident Insurance Product
Simplified claims process pays lump sum payment without restrictions on use of benefit
“Accidents are more common than we think and out-of-pocket costs during treatment and recovery can add up quickly,” said Bob Patience, vice president, Voluntary Benefits,
According to the
Prudential’s accident insurance offering is an “incident based plan” which means it pays a lump sum for a loss resulting directly from an accidental injury, and those benefits are not dependant on the services performed to repair the injury. The benefit varies depending on the severity of the injury and the money can be used to cover out-of-pocket medical and non-medical costs, without restriction. As an example, a standard benefit amount for a broken leg could pay up to
Unlike most traditional treatment-based plans, the product’s simplified claim process requires minimal documentation. With certain traditional accident plans, a separate piece of evidence would typically need to be submitted at the time of the claim for each treatment or procedure. Prudential’s accident insurance product requires only evidence of the injury itself; there is no need to provide evidence of various treatments such as X-rays, ambulance trips or physical therapy. Employees can also choose coverage for qualified dependents.
“Including accident insurance as another employee benefit can help individuals protect against a risk that may have significant consequences and supports overall financial wellness,” continues Patience. “Just as important is the streamlined and easy-to-understand claims process we’ve employed that minimizes a lot of paperwork and administration.”
For more information visit www.prudential.com/financialwellness.
Prudential, the Prudential logo and the Rock symbol are service marks of
Group coverages issued by
This policy provides ACCIDENT insurance only. It does NOT provide basic hospital, basic medical or major medical insurance as defined by
IMPORTANT NOTICE - THIS POLICY DOES NOT PROVIDE COVERAGE FOR SICKNESS.
This Accident coverage is not comprehensive health insurance coverage (often referred to as "Major Medical Coverage").
It does not satisfy the individual mandate of the affordable care act.It does not meet the requirements of minimum essential coverage as defined by federal law.
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Source:
Pair Charged With Staging Accidents
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