What is voluntary accident insurance?

Voluntary accident insurance, also known as supplemental accident insurance, is a type of insurance policy that provides coverage for accidental injuries that occur outside of work. This type of insurance typically pays out a lump sum benefit in the event of accidental injuries such as broken bones, burns, concussions, or other injuries resulting from accidents.

Voluntary accident insurance is often offered as a voluntary benefit through employers, allowing employees to purchase additional coverage for themselves and their families. It is typically affordable and can provide financial protection in the event of unexpected medical expenses or loss of income due to an accident.

Coverage under voluntary accident insurance policies can vary, but commonly include benefits for hospitalization, emergency room visits, ambulance services, surgery, rehabilitation, and other medical expenses related to the accident. Some policies may also provide additional benefits for accidental death or dismemberment.

It is important to carefully review the terms and conditions of a voluntary accident insurance policy before purchasing to ensure that it provides the coverage you need. Additionally, it is recommended to compare quotes from multiple insurance providers to find the best coverage and rates for your specific needs.