What is Accident Supplement?
Accident Supplement is Accident Medical Expense (AME) insurance, which provides cash reimbursements for medical expenses you or a family member may incur due to an accident. These AME plans pay out benefits for any leftover expenses you may have after using your health insurance.
Example expenses include:
- Inpatient expenses: Boarding, ICU treatment, ER treatment, physician services (surgery or anesthesia), and nurse services
- Outpatient expenses: Office visits, diagnostic imaging tests, physiotherapy, outpatient surgery facilities, ambulance services, medical equipment rental, dental services, and outpatient prescription drugs
A deductible may apply before reimbursements can be paid. These guaranteed-issue plans have no termination age and automatically include accidental death and dismemberment (AD&D) coverage for you and any covered family members. AD&D covers the loss of life, limbs, speech, sight or hearing.
What is Accidental Death & Dismemberment Insurance (AD&D)?
Accidental Death & Dismemberment Insurance is included as part of Liferaft Accident Supplement Insurance. AD&D provides financial protection in the event of loss of life, limbs, sight, speech, and hearing.
Depending on your plan selection, these cash benefits range from $5,000 to $20,000 and can cover expenses such as funeral costs, medical bills, and lost income.
How much does Accident Supplement cost?
Accident Supplement insurance premiums start at $6 a month, and vary depending on your plan level. Based on the plan you select, you will be reimbursed for covered medical expenses ranging from $2,500 to $10,000.
How should I select my coverage level?
Liferaft Accident Medical Expense plans range from $2,500 to $10,000 in benefits. Accident medical expense insurance plans reimburse you for any expenses remaining after your insurance benefits have already been paid. With that in mind, a good rule of thumb is to look at your plan’s annual out-of-pocket maximum and pick the plan that will cover up to that amount.